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What is the the Most Prestigious Retail Brand?
What's in a name?
If you said Tiffany's...You're wrong!
If you said Harry Winston... You're wrong!
If you said Neiman-Marcus...You're wrong!
If you said Cartier...You're wrong!
If you said Van Cleef and Arpels...You're wrong!
If you said Bulgari...You're wrong!
If you said Vuitton...You're wrong!
Give up?
Try Bergdorf-Goodman.
Yes, Bergdorf-Goodman!
A survey of the wealthiest consumers in the United States ranked Bergdorf Goodman as the country's “most prestigious traditional luxury retail brand.”
The 2007 Luxury Brand Status Index (LBSI) survey, conducted by the New York City-based Luxury Institute, asked 1,500 wealthy consumers in the US to rate eight traditional luxury brands including Barneys, Bergdorf Goodman, Bloomingdale’s, Brooks Brothers, Neiman Marcus, Nordstrom, and Saks Fifth Avenue.
Those surveyed have an average income of $319,000 and an average net worth of $3 million, the institute stated.
The results showed that Bergdorf Goodman ranked as the favorite, while its parent company Neiman Marcus came in second and Nordstrom a close third. Although not on the list, Internet retailer Vivre scored extremely high marks across the board, earning it an unofficial honorable mention.
"This category's rankings are generally stable, although the addition this year of ratings for the growing luxury e-tailer category changes the overall ratings dynamics significantly," said Milton Pedraza, chief executive officer of the Luxury Institute. "Wealthy consumers tell us that highly exclusive e-tailer Vivre outscores all traditional luxury retailers when the sub-categories are combined. No other e-tailer comes close."
"While smaller, and not as well known, Vivre has managed to become a highly exclusive e-tailer at a transitional time in the history of luxury when wealthy consumers tell us that a trusted brand, exclusive product relevance, convenience, and security are the hallmarks of a great luxury retailing website, and that offline presence matters far less than executives believe," Pedraza added.
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