Brand Finance: Porsche is the world’s leading luxury and premium brand for the eighth year in a row

Perfume maker Chanel moved up to second place after its brand value rose by 45.4 percent to $37.9 billion. Meanwhile, handbag brand Louis Vuitton slipped to third place with a brand value of $32.9 billion, a 2.1 percent increase in one year.

Hermes remains in fourth place (+19.4 percent to $19.9 billion). Swiss watchmaker Rolex rose from seventh to fifth (+36 percent to $18.8 billion).

Dior maintained its sixth place (+18 percent to $17.3 billion). Cartier moved up from eighth to seventh (+15.4 percent, $15.7 billion), while Ferrari moved up from ninth to eighth (+36.3 percent, $14.4 billion).

Italian clothing brand Gucci slipped from fifth to ninth (-23.6 percent, $11.4 billion).

French perfume and cosmetics company Guerlain rounded out the top ten (+23 percent, $7.7 billion), moving up one spot from eleventh last year, knocking Tiffany & Co. down to 11th place.

The Brand Finance 50 list includes 15 French companies (48.7 percent of total brand value), 15 Italian companies (18.4 percent), 6 Swiss companies (8.3 percent), five British companies (3.5 percent) and four American companies (5.8 percent).

Porsche is the only German company, but it accounts for 13 percent of the total brand value.