Nike, the American sportswear giant, has done it again!
Image Courtesy: news.nike.com
The sportswear brand, despite taking the number one position for the 7th successive year, reportedly, saw its value slump by 13 per cent to US $ 30.4 billion – all thanks to pandemic-induced challenges. This was according to yearly Brand Finance ranking.
Gucci was at the second spot with a value of US $ 15.6 billion. Notably, Gucci’s value too fell by 12 per cent.
Other bigwigs in the Top 20 included Louis Vuitton, adidas, Chanel, Zara, Uniqlo, H&M, Cartier, Hermès, Rolex, Dior, Tiffany, Chow Tai Fook, Coach, The North Face, Anta, Victoria’s Secret, Omega and Puma.
Here it is important to mention that the apparel ranking is classified into subsections like luxury, sportswear, underwear, footwear, high street designer, accessories and jewellery, watches and fast fashion.
Fila, with a value of 68 per cent (US $ 2.7 billion), was awarded the fastest growing brand in 2021’s Brand Finance Apparel 50 ranking. Timberland and Bosideng came 2nd and 3rd in this category with 47 per cent and 39 per cent, respectively.
Notably, Brand Finance uses different metrics to come out with all these numbers, which include actual sales and profits.