Dom P more prestigious than Cristal
This report from the Luxury Institute (www.luxuryinstitute.com) is just in, and making interesting reading in view of my article earlier today about Dom 1998. But this is a strictly American survey with no mention of the likes of Krug, Bollinger, Pol Roger, Salon or the more obviously connoisseur champagnes.
NEW YORK, November 27, 2006 As the holiday season approaches, which brands of champagne and sparkling wine do wealthy consumers rate the most prestigious? According to the Luxury Institute’s Luxury Brand Status Index (LBSI) survey of Champagnes and Sparkling Wines, the iconic LVMH brand, Dom Pérignon, is the clear winner. The brand ranks first overall, and in three out of the four critical metrics: uniqueness and exclusivity, used by people who are admired and respected, and making those who consume it feel special across the entire experience. High net worth consumers cite Dom Pérignon’s consistently high quality, superb taste and social status. According to the wealthy, “The name has become synonymous with the best in champagne”.
Cristal is the second-highest ranking brand among the 20 champagnes and sparkling wines rated. Respondents who recommend the brand above others cite its “smooth, delicious taste”and its reputation among those they respect. La Grande Dame by Veuve Clicquot, another LVMH brand, ranks third for overall LBSI, but is top-ranked in terms of consistently superior quality. It’s also the brand most perceived as worthy of a significant price premium and the brand wealthy consumers are most willing to recommend.
Twenty leading brands were rated, including: Cristal (Louis Roederer), Dom Pérignon, Domaine Chandon, Domaine Ste. Michelle, Etoile, Freixenet, J, Korbel, Krug, La Grande Dame by Veuve Clicquot, Laurent-Perrier, Moët & Chandon, Mumm, Nicolas Feuillate, Perrier-Jouët, Piper Sonoma, Piper-Heidsieck, Schramsberg, Taittinger, and Veuve Clicquot Ponsardin.
“The emotional attachment wealthy consumers have with Dom Pérignon makes it clear that they think they actually own this iconic LVMH brand. Of the hundreds of brands that we ask wealthy consumers to rate every year across scores of luxury categories, Dom Pérignon is one of the world’s most prestigious, and therefore, most valuable, luxury brands,” said Milton F Pedraza, CEO of the Luxury Institute. “Of course, it is one thing is to intuit that, and quite another to have wealthy consumers themselves validate this in their own voices. The premium wines, liquors and spirits industry has many wonderful connoisseurs and experts. However, we think there is room for wealthy consumers who vote with their tastes and wallets, to create independent, peer-to-peer reviews. The mission of the Luxury Institute is to facilitate that impartial process for the benefit of companies and consumers alike.”
A nationally representative sample of 1,200 wealthy consumers, who have consumed or purchased alcoholic beverages in the past six months, was surveyed online. Respondents had an average household income of $340k and average net worth of $2.7m. Survey results are weighted to match the demographic and net worth profile of the same audience according to the latest Survey of Consumer Finances from the Federal Reserve.
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