Bergdorf Goodman most luxurious

Following the latest survey by the Luxury Institute, wealthy US consumers rate Bergdorf Goodman, Barney’s and Neiman Marcus as the most prestigious luxury retailers. The survey showed that high net-worth consumers rated Bergdorf Goodman as the most prestigious luxury retailer in the 2008 Luxury Brand Status Index (LBSI) from the independent New York City institute. The retailers were commented on the level of personalization in service and the quality of merchandise. Department store Barney's and Neiman Marcus ranked second and third, respectively. Barney's has been climbing the chart since last year. The following seven luxury retailers were rated; Barney's, Bergdorf Goodman, Bloomingdale's, Lord and Taylor, Neiman Marcus, Nordstrom and Saks Fifth Avenue.

According to the Milton Pedraza, CEO of the Luxury Institute its probably no accident that all the large luxury retailers that top the list are now owned by private equity groups. Milton said: "Analysts are always asking whether private equity is good for luxury. The answer in terms of luxury retailing is a resounding 'yes.' We find that private equity investors think like owners and care deeply about customer experience metrics, often more than their public company counterparts.”

The proprietary Luxury Brand Status Index (LBSI) survey is the only measure of the prestige of leading brands among wealthy Americans. A national sample of 1,642 wealthy American consumers, with an average income of $349K and average net-worth of $3.7 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. The Luxury Institute is an independent research company that provides a portfolio of proprietary publications.

Image: Bergdorf Goodman