US super-rich name top men’s brands
12/06/2008
A survey carried out by New York-based Luxury Institute, a research institution focusing on high-end consumer markets, has revealed the favourite luxury men’s footwear brands in the US.
The research took place across the country, with 821 wealthy men taking part. The institute said the average earnings of respondents was almost $350,000 a year and that their average net worth was $3.6 million.
They named 17 brands in all, but Ferragamo came top, with rival Italian brands Tod’s and Prada in second and third place respectively.
The others on the list, in alphabetical order, were Alden, Allen Edmonds, Armani, Bally, Berluti, Bruno Magli, Church’s, Cole Haan, Dolce & Gabbana, Ermenigildo Zegna, Gucci, Hugo Boss, Louis Vuitton and Ralph Lauren.
“Ferragamo’s top rating in men’s shoes demonstrates that this iconic brand is coming home again,” said Milton Pedraza, CEO of the Luxury Institute, on presenting the survey results. “Wealthy male consumers look for maximum prestige, functionality and value, and Ferragamo delivered in 2008.”
He added that one key insight from the research was that brands that are specialists in one category tend to outperform ‘jack-of-all-trade’ brands.
Mr Pedraza went on to say: “It is also clear that when it comes to men’s luxury shoes, Italy dominates the category with nine of the top 10 brands, although they are rated differently across metrics, and consumers have different reasons for recommending, or not recommending, each brand. Italian luxury executives tell us that our impartial surveys have helped refine and enhance their brand strategies over the years by providing the authentic voice of the high net-worth consumer.”
Share this story:
