Nike tops brand value list again
Brand valuation consultancy Brand Finance has named the world’s top 50 apparel brands by value. The London-based consultancy calculates brand value as the net economic benefit that any brand owner would achieve by licensing the brand in the open market.
Its apparel ranking is divided into luxury, sportswear, footwear, fast fashion, watches, underwear, accessories and jewellery.
Making its calculations at the start of 2021, it said that, collectively, the total value of the world’s 50 most valuable brands in these categories had declined by 8% compared to the previous year to reach $275 billion.
Commenting on this, Brand Finance managing director, Richard Haigh, said 2020 had undoubtedly been a tough year for the sector. He explained: “Global and widespread economic disruption caused a sharp decrease in demand and lockdown-induced store closures forced brands to digitalise quickly or face dire consequences for sales and profits.”
He said, however, that brands had shown “remarkable agility and innovation” and that this should stand them in good stead in the coming year.
By the consultancy’s calculation, Nike retained the title of the world’s most valuable apparel brand for the seventh consecutive year, despite recording a 13% drop in value year on year to reach $30.4 billion. This was almost double the value of the brand in second place, Gucci, with $15.6 billion. Fila was the fastest growing brand in this year’s top 50 ranking, following an increase of 68% in its brand value to reach $2.7 billion.
Footwear was the only one of the sub-categories to record an increase in brand value year on year, posting a 9% increase in the average value. New entrants to the top 50 Timberland and Converse performed particularly well, recording a 47% and 8% brand value increase, respectively.
