According to a study conducted by YPulse, Gucci, Rolex and Louis Vuitton are among the top 3 high-end brands most popular among younger generations in Western Europe.
Iconic homes are among the most sought-after brands for GenZ and Millennials
Like every year, YPulse released its report on GenZ and Millennials' perceptions of the luxury industry. The company, which specializes in younger generation consumer analysis, surveyed 2,500 people aged 13 to 39 in the UK, Italy, Spain, France and Germany for the month of October 2023. Focus on the premium brands that these young Europeans most want to purchase.
Gucci has proven to be the luxury house that 13- to 39-year-olds would most like to buy. The Italian brand is number 1 in the 18-39 age group and ranks second among consumers aged 13-17. This attractiveness can be explained by Gucci's strategy to establish itself where young consumers are, especially in the Web3 and gaming universe. The house continues to offer digital content to interact with this connected community, for example through mini-games, digital art, operations on Roblox or even the installation of its Gucci Cosmos exhibition in the metaverse of The Sandbox. Despite a -7% drop in sales to 2.2 billion euros in the third quarter of fiscal 2023, Gucci still seems to shine in the eyes of younger consumers.
©YPulse
Same story for Louis Vuitton placed at the top of the rankings. With 4th place among 13 to 17 year olds, 2nd place among 18 to 24 year olds and 3rd place among 25 to 39 year olds, the French house is also surfing digital activations, with collections of NFTs, distribution channels on Discord and Instagram and the unprecedented popularity of the Internet. In fact, in 2023, Louis Vuitton was the most searched high-end house on Google, the most followed on Tik Tok, and the second most powerful and valued fashion brand that year. A hegemony that is also due to the aura of its new artistic director, Pharrell Williams, well known among younger generations, and its culinary activities, which are at the forefront of the trend combining gastronomy and luxury.
Let's also quote Rolex, which benefits from its iconic image to reach the target group of 18 to 39 year olds. This age group ranked the brand among the top three homes they most want to own. Other luxury brands mentioned in the YPulse study include: Prada, Dior, Ferrari and Chanel.
Note that 13- to 39-year-olds view the big names in the tech world, Apple, PlayStation and Xbox, as high-end brands. The Nike brand was also mentioned in the ranking of 13-24 year olds and even took the top spot among the brands that 13-17 year olds are most interested in purchasing.
YPulse's full 2023 Luxury and Young Consumer Report is available here.