Footwear is the only subsector of the Brand Finance Apparel 50 2021 survey to increase in brand value year-on-year, posting a 9 percent increase on average to $5.0 billion. New entrants in the ranking, Timberland and Converse, recorded 47 percent and 8 percent increases in brand value respectively.
The total value of the world’s top 50 most valuable apparel brands declined by 8 percent, decreasing from $301.9 billion in 2020 to $276.4 billion in 2021. The ranking is divided into subsectors: luxury; sportswear; fast fashion; watches, accessories & jewellery; high street designer; underwear and footwear. Footwear is the smallest of the subsectors in brand value.
Nike was awarded the title of the world’s most valuable apparel brand for the seventh consecutive year, despite a 12.5 percent drop in brand value to $30.4 billion. Although Nike’s sales took a hit last year due to the pandemic, the brand saw its online sales almost double in Europe, the Middle East and Africa, Brand Finance analysts explained.
Nike has a considerable lead over the second-ranked brand, Gucci, whose value of $15.6 billion was down by 11.5 percent from its 2020 score. Louis Vuitton is third in the ranking with $14.9 billion, down by 9.8 percent. Adidas takes the fourth spot with $14.3 billion, declining by 13 percent, at about the same rate as Nike. The other names in the 2021 Top 10 Most Valuable Apparel Brands list are Chanel in the fifth spot, followed by Zara, Uniqlo, H&M, Cartier and Hermès.
Skechers ranked 42nd, down from 37th in 2020, Converse was 47th followed by Timberland in 48th position.