Louis Vuitton has been named the most valuable luxury brand by BrandZ. The French fashion house grew 15 percent in brand value over the past year, as it is now worth $47.2 billion. BrandZ points out that much of Louis Vuitton's success continues to revolve around its signature leather goods and unmatched creativity in all product categories.

Luxury grew more than any other category in 2019, according to BrandZ's Top 100 Most Valuable Global Brands ranking, rising 29 percent in overall brand value to add more than $38 billion in worth to reach $171.3 billion. BrandZ insists much of the recent spike can be attributed to luxury brands catering to both older, traditional customers who aspire to be associated with the luxury market's inclusive and youthful spirit, as well as younger customers wanting to be a part of a luxury brand.

Alongside Louis Vuitton, French brands dominate BrandZ's 2019 list, with Chanel ranking number two ($37 billion) and Hermès number three ($31 billion). Six of the top 10 most valuable luxury brands are French.

Furthermore, Yves Saint Laurent grew more than any other brand in comparison to last year, adding 45 percent value growth to $3.6 billion. Dior then grew second most year-to-year thanks to 29 percent brand value growth to $4.66 billion.

See below for BrandZ's top 10 most valuable luxury brands of 2019.

1. Louis Vuitton ($47.2 billion brand value) 2. Chanel ($37 billion) 3. Hermès ($31 billion) 4. Gucci ($25.3 billion) 5. Rolex ($8.4 billion) 6. Cartier ($6 billion) 7. Burberry ($4.7 billion) 8. Dior ($4.7 billion) 9. Saint Laurent/Yves Saint Laurent ($3.6 billion) 10. Prada ($3.5 billion)

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