Graff and Asprey top Luxury Brand Status Index

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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”.

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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.

 

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