Louis Vuitton, the French maker of laminated canvas handbags, was named the world’s most valuable luxury brand for a seventh consecutive year.

The brand, owned by LVMH, is worth $25.9 billion, a 7 percent increase from 2011, according to Millward Brown Optimor’s 2012 BrandZ study.

Hermes, in which LVMH owns a stake, rose to second place with a value of $19.1 billion, up 61 percent on last year. Rolex, the closely-held Swiss watch brand, was ranked third at $7.17 billion, a 36 percent gain.

Here are the top 10 names in luxury:

British fashion label Paul Smith is planning to open 24 stores in China over the next five years in its second attempt at tapping the country’s booming luxury market.

The brand will open a flagship store in Shanghai in December under a five-year partnership deal with Hong Kong-based distributor ImagineX.

The estate of Humphrey Bogart is suing British-based clothes company Burberry over use of the Hollywood icon’s name in what it said was an advertising campaign.

Nuclear-armed North Korea has been under heavy sanctions for years but there is little sign of any effect on the elite in Pyongyang, who enjoy unfettered access to upmarket cars and consumer goods.

The economy of the isolated North is widely believed to be battered and stuttering, but the luxury shops of the showcase capital tell a different story.

Wealthy Iranians are fuelling an unprecedented luxury car boom despite sanctions hurting their economy, paying up to $360,000 for high-end autos.

“Buyers are paying upfront for these cars, which generally cost two to three times more than abroad,” one car salesman in Tehran told AFP on condition of anonymity.

As Christian Louboutin launches its European online boutique April 11, the luxury shoe label has announced a host of digital innovations for the future including an iPhone app and live chats with the label’s representatives.

The iconic shoe brand suffered so much with sites claiming to be selling genuine Louboutins that in 2009 it issued a warning concerning the problem.