Index based on habits of shoppers with at least £130k incomes.
The US-based research facility the Luxury Institute has announced its 2012 Luxury Brand Status Index (LBSI) for jewellery, with UK-based diamond specialist Graff Diamonds named the highest-scoring luxury brand based on its reputation, quality and craftsmanship.
The LBSI focuses on the spending habits of ultra-wealthy US shoppers with at least $200,000 (£127,520) per year in household income and minimum net worth of $5 million (£3m). The scores of the luxury brands featured in the report are based on respondents’ evaluations of each brand’s products, customer service experience and reputation.
Graff achieved a score of 7.98 out of 10, with the Luxury Institute describing the diamond specialist as “the brand that pentamillionaires are most likely to deem worthy of charging premium prices”.
The second highest scoring jeweller was Asprey, a fell UK company with a score of 7.82, while Japanese pearl specialist Mikimoto came third with its score of 7.77.
The report also focused on the exclusivity of the brands, reporting that just 1% of pentamillionaires have purchased one of Graff’s diamonds in the past 12 months, while 3% have shopped at Asprey and 4% have purchased from Mikimoto.
Tiffany & Co. was named the most popular luxury jeweller, with 13% of ultra-wealthy shoppers making a blue box purchase in the past year and 75% saying they plan to buy Tiffany goods in the coming year.
The Luxury Institute’s chief executive Milton Pedraza said: “Quality in craftsmanship and materials are primary considerations for any luxury goods brand, but especially so in jewellery.
“The top-ranked jewellers also pay attention to delivering an outstanding customer experience to create true brand value and a competitive advantage.”
Those who took part in the survey reported having an income of $682,000 (£434,800) and average net worth of $14.6 million (£9.3m).
The Luxury Institute is "the objective and independent global voice of the high net-worth consumer". It conducts extensive research with wealthy consumers about their behaviours and attitudes on customer experience best practices. It also works closely with top-tier luxury brands to help make their companies more profitable customer-centric enterprises.