Nike Has Been Named the Most Valuable Apparel Brand Again
It's no secret that the pandemic did a number on several industries—clothing and apparel included. In fact, a new report by brand valuation consultancy Brand Finance says the total value of the world's most valuable apparel brands dropped by 8 percent.
It's also no secret that not all brands are equal when it comes to value. Case in point: Nike, which Brand Finance has named the most valuable apparel brand—for the seventh year in a row. The sportswear company retained the title thanks to its brand value of $30.4 billion.
See the rest of the 10 most valuable apparel brands below.
- Louis Vuitton
"2020 was undoubtedly a tough year for the apparel sector," said Richard Haigh, Brand Finance managing director. "Global and widespread economic disruption caused a sharp decrease in demand and lockdown-induced store closures forced brands to digitalize quickly or face dire consequences to sales and profits."
He added, "Despite the total brand value of the world’s top 50 most valuable apparel brands declining 8% year-on-year, on the whole we have witnessed remarkable agility and innovation across the sector, which will no doubt stand brands in good stead in the coming year."
Looks like these brands are going to recover—and fast.