Luxury Institute News

March 12, 2009

News Release: High Net-Worth Consumers Rank the “Best of the Best” Men’s and Women’s Shoes

(NEW YORK) March 12, 2009 – The Luxury Institute reported today the results of the men’s and women’s luxury shoe categories of the 2009 Luxury Brand Status Index (LBSI) survey, which identifies the top brands that exhibit true luxury in the high-end shoe market.  

 

Which luxury shoe brands deliver the best combination of quality, exclusivity, customer experience and peer prestige? High net-worth consumers rated Ferragamo and Christian Louboutin the “Best of the Best” amongst all brands in the Men’s and Women’s luxury shoes categories, respectively, reported by the independent, New York-based Luxury Institute.

 

The LBSI asks high net-worth consumers to rate Men’s and Women’s luxury shoe brands across four equally weighted components: Consistently Superior Quality, Uniqueness and Exclusivity, Making the Customer Feel Special and Being Consumed by People Who Are Admired and Respected.

 

The “Best of the Best” are: (LBSI score out of 10)

·         Men’s Shoes

o   Ferragamo – 7.63

o   Versace – 7.60

o   Louis Vuitton – 7.35

 

·         Women’s Shoes

o   Christian Louboutin – 8.24

o   Manolo Blahnik – 8.07

o   Jimmy Choo – 8.02

 

“This year the ratings by wealthy consumers are even more meaningful,” said Milton Pedraza, CEO of the Luxury Institute. “Sometimes consumers are consistent year-to-year with ratings, and some years we have a brand that suddenly stands out temporarily. We are finding that you don’t have to be the most expensive or best known to be rated highly by wealthy consumers. Contrary to popular myth, most wealthy consumers don’t live above their means and have always looked for true lasting value in luxury purchases. Most are self-made Main Street millionaires who have earned every penny by creating value for the global economy.

 

“In a world full of biased and rigged ratings, especially online, the Luxury Institute has delivered, for more than five years, impartial research that ensures a level of transparency and objectivity that has earned us the trust of the consumer, the industry and the media,” continued Pedraza. “We strive continuously to reinforce the trust that allows us to facilitate a constructive dialogue between wealthy consumers and luxury brands via our ratings surveys. Our business continues to do well in this severe downturn, as true luxury brands find they need unbiased, reliable data from a trusted expert.”

 

The proprietary Luxury Brand Status Index (LBSI) survey is the only unbiased measure of the prestige of leading brands among wealthy Americans. A national sample of 1,208 wealthy American consumers, with an average income of $345,000 and average net worth of $3.2 million, was surveyed online. Survey results are weighted to match demographic and net worth profiles of the same audience according to the latest Survey of Consumer Finances from The Federal Reserve.

 

About the Luxury Institute (www.LuxuryInstitute.com)

The Luxury Institute is the uniquely independent and impartial ratings and research institution that is the trusted and respected voice of the high net-worth consumer. The Institute provides a portfolio of proprietary publications and research and consulting services that guides and educates high net-worth individuals and the companies that cater to them on leading edge trends, high net-worth consumer rankings and ratings of luxury brands, and best practices. The Luxury Institute also operates the LuxuryBoard.com (www.LuxuryBoard.com), the world’s first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs.

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