Marketing consulting company Interbrand has released its list of 2019's top global brands. The ranking revealed that for the second consecutive year, luxury and retail comprise the fastest growing sector — outpacing even technology — with an average growth rate of 11%.

In order to estimate a brand's valuation, Interbrand analyzes the financial performance or services of a brand, the role a brand has in purchase decisions, and a brand's competitive strength compared to other brands within its sector.

As result, the analysis found that the top nine luxury companies have a combined brand value of roughly $117.784 billion.

The top luxury brand in the world is Louis Vuitton, with a $32.223 billion brand valuation and 14% year-over-year growth. In addition, Gucci was noted as being the fastest growing luxury brand in the world, with a growth rate of 23%.

Keep reading to find out which brands dominated the luxury sector last year.