According to the latest report by Brand Finance, Nike remains the best in class for apparel, maintaining its dominance with a brand value of US$32.4 billion.
The yearly report, published by independent brand valuation and strategy consultancy Brand Finance, made the unsurprising revelation that the sportswear giant remains the world’s most valuable apparel brand.
According to the report, Nike has a brand value of US$32.4billion.
Rival Adidas has bitten into some of Nike’s North American market, with brand value rising by 17 per cent to US$16.7 billion.
The gap between the two remains large, as Nike’s brand value is nearly double that of Adidas.
Spanish fast-fashion retailer Zara, (brand value up 6 per cent to US$18.4 billion) has moved into second position supplanting H&M, which falls down to fourth place (brand value down 16 per cent to US$15.9 billion).
Whilst Zara’s acclaimed integrated store and online business has seen it gain access to a further 106 countries, H&M has struggled with a mounting stack of unsold inventory and repeated customer complaints.
Japanese label Uniqlo is the fastest-growing apparel brand in the top 10, up a whopping 48 per cent year on year.
Luxury brand Rolex is the strongest brand in the sector, posting an elite AAA+ brand strength rating.
Brand Finance MD Richard Haigh commented: “The apparel sector continues to thrive. Brand value growth has been particularly strong among brands aware that consumers who shop both in-store and online spend significantly more than those who buy in bricks-and-mortar boutiques alone.
“It pays to create a robust omnichannel shopping experience for clients. Collaboration with celebrities, the digital age, and an ability to feed fast-fashion habits whilst being ethically aware will continue to benefit brand value”.