IWC was the top-ranking watch brand for three out of four components of the LBSI survey, which identifies the top brands that exhibit true luxury in numerous categories based solely on the independently verified ratings of wealthy and ultra-wealthy consumers.
IWC also swept the highest scores as the luxury watch brand wealthy consumers are most willing to recommend and consider the most worthy of a price premium.
Consumers who rated IWC No. 1 described the brand as “rare and exceptional,” “the standard” and having “unique design and classic looks.”
Patek Philippe and Vacheron Constantin ranked second and third, respectively.
“At a time when many luxury brands are having identity crises in the midst of an economic crisis, IWC knows exactly who they are, what they offer and who they serve. They are a true 21st century luxury brand, as rated by the ultimate brand constituents: consumers,” Luxury Institute Chief Executive Officer Milton Pedraza said in a media release. “Additionally, Patek Philippe and Vacheron Constantin are consistently rated among the top luxury watches by ultra-wealthy consumers. The ability of these brands to be rated so highly year after year makes them brands that deliver the luxury value consumers look for universally.”
The proprietary LBSI survey asks high-net-worth consumers to rate luxury brands by category across four equally weighted components: consistently superior quality, uniqueness and exclusivity, making the customer feel special across the entire experience, and being consumed by people who are admired and respected.
A national sample of 1,013 ultra-wealthy American consumers, with minimum investable assets of $2 million, and median investable assets of $4.1 million, was surveyed online. Survey results are weighted to match demographic and net-worth profiles of the same audience according to the latest Survey of Consumer Finances from The Federal Reserve.
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