Most valuable luxury brands top 100

BEIJING - The World Luxury Association (WLA) revealed its list of 100 global luxury brands at an official ceremony in Beijing on January 11, 2012.

Chief representative of the WLA Mr. Kun Ouyang, Secretary-General of China Consumers' Association Yang Hongcan and Italian Ambassador Attilio Massimo Iannucci attended the ceremony. Delegates from Sri Lanka, Switzerland, France, Nepal and Russia were also invited as presenters.

Winners of 10 luxury industries were revealed at the ceremony - also known as the "Oscar of the luxury industry".

Chief representative of World Luxury Association Ouyang Kun makes a speech the 2012 World Luxury Association World's Most Valuable Luxury brands Top 100 Gala in Beijing on January 11, 2012.[Photo/chinadaily.com.cn]

"Since China's accession to the WTO ten years ago, luxury brands of the world have experienced a brilliant development period in China," Ouyang said during a speech. "From yesterday's 'Pierre Cardin' to today's 'Louis Vuitton', luxury brands have inked deep memories in the minds of Chinese consumers."

With China's economic development, attitudes of Chinese consumers towards purchasing luxury products have changed. At such a time, it is of more significance to publish the selected list of today's top 100 luxury brands, not only as a form of recognition but also to spread their influence in the Chinese and global market.

Secretary-General of China Consumers' Association Yang Hongcan makes a speech at the 2012 World Luxury Association World's Most Valuable Luxury brands Top 100 Gala in Beijing on January 11, 2012. [Photo/chinadaily.com.cn]

"The Chinese market provides a wide room and strong force to push forward development of international luxury brands," said Yang Hongcan of the China Consumers' Association. "Our data also show an upward trend of luxury goods consumption in China."

"Chinese consumers hope more brands could focus on the Chinese market and provide more innovative and well-performing goods to enthusiastic Chinese buyers in the future," he added.