According to the annual Brand Finance ranking, Nike and Gucci have once again secured the top positions as the most valuable apparel brands in the world. Nike has reigned as the leading brand for the seventh consecutive year, although its brand value has seen a decline of 13% due to the impact of the COVID-19 pandemic on sales. Despite this setback, Nike’s online sales experienced a significant increase, which helped it maintain its position as the most valuable apparel brand.
The overall value of the top 50 apparel brands declined by 8% in the past year, with the combined value dropping from $301.9 billion in 2020 to $276.4 billion in January 2021. The biggest decline in brand value was observed in Tapestry’s Coach, with a decrease of 31%. On the other hand, Fila and Bosideng emerged as brands to watch, with Fila witnessing the highest growth in brand value at 68%.
Rolex was recognized as the world’s “strongest apparel brand” with an impressive Brand Strength Index score of 89.6 out of 100. Gucci secured the second position on the list, although its brand value decreased by 12% compared to the previous year, reaching $15.6 billion. The top 20 also featured renowned brands such as Louis Vuitton, Adidas, Chanel, Zara, Uniqlo, H&M, Cartier, Hermès, Dior, Tiffany, Chow Tai Fook, The North Face, Anta, Victoria’s Secret, Omega, and Puma.
A notable highlight from the ranking was the success of footwear brands, which saw an average growth of 9% in brand value. This made the footwear sector the only sub-sector within the apparel industry to experience growth. Timberland and Converse particularly flourished, with respective increases in brand value of 47% and 8%. Conversely, underwear brands suffered the most, with Victoria’s Secret becoming the third-fastest-falling brand with a 22% decrease in brand value.
Aside from the aforementioned brands, ASOS and Boohoo witnessed significant increases in brand value at 38% and 22% respectively. This growth can be attributed to the surge in online shopping and the success of their e-commerce platforms. Moreover, beauty brands that excelled in personal hygiene product sales, such as The Body Shop and Boots, also performed well, with brand value increases of 20% and 18% respectively.
Overall, the Brand Finance ranking emphasizes the resilience of certain brands in the face of adversity caused by the pandemic. While some brands experienced declines in brand value, their ability to adapt to evolving consumer behaviors and embrace e-commerce has been instrumental in maintaining and even augmenting their brand value. As the world continues to recover from the effects of the pandemic, it will be intriguing to observe how these brands evolve and adapt to the new normal in the apparel industry.
Useful Links:
1. Brand Finance Apparel 50 – 2021
2. Forbes – The World’s Most Valuable Brands 2021
