In today's world, luxury products are no longer the preserve of either a few select locations or the rare millionaire or two; these products today are manufactured across the world and have been crafted to appeal to a variety of styles and personalities.
The increasing numbers of almost obscenely wealthy people further fuels the desire to have absolutely unique style statements and luxury brands are only too happy to oblige.
The end result is that the several luxury brands in the market now compete fiercely with one another, often looking to outdo the other in producing extravagant products.
According to a report released by Milward Brown, a leading global research agency, French fashion house Louis Vuitton is the highest-valued luxury brand, followed by fellow French brand Hermes and Italian rivals Gucci.
Check out the list of your favourite brands and see how they stack up: