April 2009
Global men’s luxury brand, Ermenegildo Zegna, has been rated ‘Best Of The Best’ in the luxury menswear segment of the 2009 Luxury Brand Status Index (LBSI) survey, making it the second consecutive win for the Italian fashion house.
Conducted by the New York-based Luxury Institute, the online survey identifies the major brands deemed by wealthy consumers as exhibiting true luxury through factors such as quality, prestige and a great customer experience. In the men’s luxury fashion survey, a group of 608 high-net-worth American men were asked to rate the brands on the basis of the following criteria: consistently superior quality, uniqueness and exclusivity, making the customer feel special across the entire customer experience, and being consumed by people who are admired and respected.
Ermenegildo Zegna gained a score of 7.89 out of 10, an indication of high regard from the survey respondents who had an average income of $346,000 and an average net worth of $3.8 million.
“Wealthy consumers understand they have the power now, and they are voting with their dollars,” said Milton Pedraza, Chief Executive of the Luxury Institute.
“In the 21st century, luxury brands will still validate consumers, but luxury consumers will in turn validate luxury brands… Luxury brands that are snobby and arrogant are out; welcoming and nurturing brands are in vogue. It used to be that luxury brands could impose high prices; now they have to earn them.”
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