Despite the global recession, some luxury brands are retaining their value. Millward Brown Optimor’s annual list of the World’s Most Powerful Brands was just released and Director Pierre Dupreelle explained that while the luxury category was down overall by three percent, it’s still an exciting place to be. Brands like Burberry and Prada made strides in digital marketing, increasing their global visibility (though they were still left off of the Top 10 list), while brands like Louis Vuitton and Hermes did even better than last year.

Here are Millward Brown’s top ten most powerful luxury brands in the world:

1. Louis Vuitton
Last year’s ranking: 1
Overall Brand Value: up 2% to $19.78 billion

2. Hermès
Last year’s ranking: 2
Overall Brand Value: up 8% to $8.46 billion

3. Gucci
Last year’s ranking: 3
Overall Brand Value: up 2% to $7.59 billion

4. Chanel
Last year’s ranking: 4
Overall Brand Value: down 11% to $5.55 billion

5. Hennessy
Last year’s ranking: 6
Overall Brand Value: down 1% to $5.37 billion

6. Rolex
Last year’s ranking: 5
Overall Brand Value: down 14% to $4.74 billion

7. Moët & Chandon
Last year’s ranking: 8

8. Cartier
Last year’s ranking: 7
Overall Brand Value: down 19% to $3.96 billion

9. Fendi
Last year’s ranking: 9
Overall Brand Value: down 8% to $3.20 billion

10. Tiffany & Co.
Last year’s ranking: unranked
Overall Brand Value: up 6% to $2.38 billion

For more of Carrie Mitchell’s style insights, visit StyleGroove.com