Ferragamo and Louis Vuitton Tops in Customer Satisfaction
Posted on January 23, 2006
The Luxury Institute in New York conducted a poll of wealthy customers and asked them to rate 16 leading Luxury Fashion Designer brands, based on their shopping experiences with these brands: Armani, Burberry, Calvin Klein, Chanel, Christian Dior, Coach, Dolce & Gabbana, Ferragamo, Gucci, Hermes, Hugo Boss, Louis Vuitton, Polo Ralph Lauren, Prada, Versace, and Yves St. Laurent. The results made for some happy reading over at Ferragamo -- their customers just love their Ferragamos.
Milton Pedraza, CEO, Luxury Institute, says in a statement, "Wealthy consumer ratings in this category are dynamic. Ferragamo has the strongest brand loyalty as measured by the critical customer retention index, and is the brand customers are most willing to recommend. While Ferragamo is top-rated regardless of income or net worth, Louis Vuitton is top- rated among women, and Hermes is top-rated among wealthy consumers age 50+, and the brand deemed most worthy of a price premium."
The Luxury Institute surveyed 2,100+ households with a minimum of $200,000 annual income and net worth of $750,000+ (including home equity). The Luxury Customer Experience Index (LCEI) is based on four customer experience factors: Experience Drivers, Price Worthiness, Customer Retention and Customer Referral. The Experience Drivers section includes metrics of the brand's effectiveness, brand attitude, brand environment, and the brand's problem resolution index.
Apparently the Oprah fiasco didn't hurt Hermes too much. Of course it didn't hurt that Oprah did a show segment about it and told people to continue to buy Hermes Birkin bags.