The 2013 BrandZ Top 100, a ranking of the most valuable global brands compiled by research firm MillwardBrown, found luxury firms struggling with the need to balance exclusivity with attracting new customers through use of social media. The survey said luxury brands had become more "accessible, collaborative and experimental".
The survey found that the Chinese customer continued to be key to the fortunes of luxury firms in Europe. Although, the sector felt the impact of government limits on official gift giving and slowing economic growth in China, purchases by Chinese and other Asian tourists to Europe "buoyed luxury sales in the economically troubled markets of western Europe", it said. Overall in the past year, the value of the luxury sector had risen 6%, compared with a 15% increase a year ago, it added.
