LVMH-owned brands Moët & Chandon, Chandon, Veuve Clicquot and Dom Pérignon are the most valuable wine and champagne brands on the planet, according to a new report from brand valuation consultancy Brand Finance.
According to the Brand Finance Champagne & Wine 10 2024 rankings, Moët & Chandon saw its brand value rise 9% last year, to $1.4 billion, while Chandon saw its brand value slip back 1%, to $1 billion.
In third place, Veuve Clicquot saw its value value rise 2% to $959.2 million, while Dom Pérignon reported a 7% increase in brand value, to $799.8 million.
Chinese brand Changyu, which was the second-most valuable brand last year, now places fifth, following a 33% decrease in brand value, to $706.8 million.
Changyu continues to hold the highest Brand Strength Index score among wine and champagne brands, according to Brand Finance's research. The brand excels in familiarity and consideration, maintaining its leading position in these areas. However, the research also highlighted a decline in stakeholders' perceptions of Changyu's price premium, due to the growing presence of competing wine brands in China.
'Significant Transformation'
"The wine industry is experiencing a significant transformation as both producers and consumers become more environmentally conscious," commented Henry Farr, director, Brand Finance. "Brand Finance’s research reveals that sustainability now drives a substantial 11% of customer consideration in the sector.
"Companies adopting practices like reducing pesticide use, recycling water, and ensuring fair treatment for vineyard workers are becoming increasingly appealing to consumers. Consequently, many producers are revamping their practices to better protect the environment and safeguard their vines against climate extremes.
"Transparent communication of these efforts is likely to be a crucial component to earning consumer trust, preference, and ultimately, brand success in the coming years."
The Brand Finance Champagne & Wine 10 2024 rankings list the most valuable and strongest champagne and wine brands globally. Brand value, as defined by Brand Finance, represents the net economic benefit that a brand owner could gain if the brand were licensed in the open market. On the other hand, brand strength is a measure of how effectively a brand performs on intangible aspects, such as consumer perception, relative to its competitors.
