Digital entertainment companies are gaining stature at the expense of the established kings of luxury, an annual report into the UK’s most desired brands has found.
Spotify was the highest new entrant in this year’s CoolBrands Top 20, stealing 11th place, while Netflix and Instagram were fifth and seventh, making the top 10 for the first time reports The Telegraph.
Sonos, the maker of the wireless multi-room speaker systems and a pioneer of the connected home, also joined the index, while high-end home technology designer Bang & Olufsen fell five notches to 16th place and Sony dropped out of the ranking altogether. Other luxury brands including Dom Pérignon, Rolex, Bose and Selfridges were also knocked out of the top 20.
Apple, which had fans queuing for days last week to be among the first to get their hands on the newly released iPhone 6s and 6s Plus, retained the top spot for the fourth consecutive year.
“Attaining Top 20 CoolBrands status takes time and isn’t the result of a one year fad or flash in the pan,” said Stephen Cheliotis, chairman of the CoolBrands Council.
“Young brands however, like Netflix and Instagram, are showing clear momentum. They are moving up the Top 20 at a decent pace and posing a threat to established sector peers, suggesting they’ll challenge the leading brand overall,” he said.
While Stella McCartney, last year’s 20th coolest brand, lost its place on the index, rival British fashion house Alexander McQueen rose seven slots to rank sixth. A retrospective of the designer’s work became the UK’s most highly-attended paid-for art exhibition.
High street sports brands fared well amid a British resurgence in fitness activity, with Nike taking fourth place and Adidas joining the list at number 18. Whole Foods Market also entered the index this year, taking 15th place.
The CoolBrands Top 20, now in its 14th year, is compiled from a longlist of 1,450 brands based on the opinions of 2,500 British consumers and a judging panel. Brands cannot apply for consideration or pay to be included.
These are the 20 coolest brands in the UK:
Alexander McQueen (+7)
Aston Martin (-8)
Royal Albert Hall (new)
Whole Foods Market (new)
Bang & Olufsen (-5)
Ace Hotel (new)
Virgin Atlantic (=)