Interbrand recently released its much-anticipated ranking of the world's 100 best brands for 2018. This ranking measures how much a brand name contributes to a consumer's decision to buy a product, which is especially true when it comes to luxury items. On an industry-by-industry basis, the luxury industry tops the Best Global Brands 2018 Index. According to Interbrand, the luxury fashion and accessories sector reported an overall growth of 42 percent since 2017. Gucci and Louis Vuitton are among the world's fastest-growing luxury apparel brands.

Gucci's brand value grew by 30 per cent to $12.9 billion. On the other hand, Louis Vuitton's grew by 23 per cent to $28.2 billion. The nine luxury brands on the list have a combined brand value of $105.8 billion.

Individually, or on a brand-by-brand basis, Apple tops the list of the world's top brands. Its brand has an estimated value of $214.5 billion, an increase of 16 percent from 2017. Behind Apple is Google, another tech giant, which saw its brand equity jump 10 percent to $155.5 billion. And third is Amazon, whose brand equity skyrocketed 56 per cent to $100.8 billion, helped by the massive increase in its stock price and revenues since the start of the year. Amazon is also the fastest-growing brand on Interbrand's top 100 list.