Nike Tops the List as the World’s Most Valuable Apparel Brand
For yet another year, Nike has claimed the title of the world’s most valuable apparel brand, according to Brand Finance’s latest report. The iconic footwear brand is valued at a staggering $31.3 billion, securing a lead of $5 billion over its closest competitor, Louis Vuitton. Interestingly, Nike’s brand value has seen a 6% decline this year, yet it remains firmly at the top. Annie Brown, the General Manager of Brand Finance UK, noted, “Nike’s dedication to innovation, its ability to stay ahead of trends, and its global athlete partnerships have solidified its position as the leader in the apparel industry. In 2023, Nike continues to leverage its massive influence to drive positive change in sports and beyond.”
Here are the top ten most valuable apparel brands according to Brand Finance:
- Nike – $31.3 billion
- Louis Vuitton – $26.3 billion
- Chanel – $19.4 billion
- Gucci – $17.8 billion
- Adidas – $15.7 billion
- Hermes – $14.2 billion
- Dior – $13.2 billion
- Cartier – $12.5 billion
- Zara – $11 billion
- Rolex – $10.7 billion
A noteworthy newcomer to the list is New Balance, which has been dubbed a “brand to watch.” The company’s value rose by 11% to $1.8 billion, largely thanks to the recent success of tennis star Coco Gauff at the US Open. Gauff wore custom-made ‘Call Me Champion’ shirts by New Balance during her victory, and earlier in the year, she debuted her signature CG1 Vintage shoes, which saw a surge in sales following her win. With Gauff’s rising profile, New Balance’s growth is expected to continue.
The highest-ranking Canadian brand on the list is Lululemon, which secured 16th place overall. The Vancouver-based brand saw its value increase by 30%, reaching $5.5 billion. Lululemon’s success can be attributed to its product innovation, expanding presence in new markets, and an enhanced customer experience. The company is also set to open 50 new stores worldwide by the end of the year, solidifying its strong financial performance. Laurence Newell, Managing Director of Brand Finance North America, commented, “As Lululemon celebrates its 25th anniversary, it remains true to its roots, emphasizing its role as a community-driven brand while gaining global recognition.”
The fastest-growing brand on the list was French fashion house Celine, with a remarkable 51% increase in its brand value, now standing at $2.9 billion. Celine’s growth is largely attributed to its masterful use of social media marketing and online advertising campaigns. As luxury fashion continues to face challenges in the post-pandemic world, brands like Celine, Louis Vuitton, Dior, and Gucci have adapted and leveraged e-commerce and social media to their advantage.
Brand Finance evaluates over 5,000 of the world’s top brands annually, producing over 100 reports and ranking the leading names across all sectors and countries. The results of their research are published in their comprehensive annual report, highlighting the top 50 global brands.
