LV. The only thing that makes them a luxury brand are their prices and their history. They are a running joke, not a fashion house (unless somebody considers ugly shoes and show-off bags fashion).
Dior Homme has lost the sleek estetic, newer desings looks so clumsy, even belt buckles look like they come from Bershka or something, not high-fashion label.
Cavalli and
Dolce & Gabbana - their collections are so boring for the last years, always the same recycled thing with some "inspiration" from other designers. Dolce is especially boring, the end product is very generic, the only thing that stands out is that metal tag on everything, even t-shirts.

Few $60`000 glittery dresses can't make up for that.
Gucci and
Dior are still balancing on the edge, they are very close to become like LV.
Margiela never had that status in my eyes, there was a bit avant-garde, but mostly his clothes are incredibly basic and boring, from what I see in the stores. That label is/was over-hyped. Or maybe I missed something.
Ungaro remains to be seen, maybe the next collection will be better. If not, maybe they should just do a casting show, Next Ungaro Designer, that should give them some PR, that's what they want most, no?

I'm not sure about
Givenchy tho, I hear they still aren't making profit, I can't remmeber the last time I saw Givenchy on red carpet. All I see is their Nightingale bags for time to time. Is Givenchy
cachet, or whats the deal with them?