Gucci, Louis Vuitton and Chanel fail to dethrone Nike as the most valuable clothing brand

The valuing of comfort over glamor during the pandemic does not seem to be just a matter of fashion, although it is related to clothing. In the latest ranking of the most valuable textile brands in the world prepared by the consultancy Brand Finance, and even when it depreciated, the Nike sportswear once again swept over the luxurious Gucci, Louis Vitton, Cartier and Hermés.

The famous firm of the pipe, was imposed for the seventh consecutive year at the head of the list of clothing brands. Its value fell by 17.5% as a result of the pandemic to 25,918 million euros, a number that also almost doubles that of the Italian company that follows it in the ranking: Gucci, with 13,280 million euro.

The podium is completed by the Frenchwoman Louis Vuitton, who with herself was able to surpass another sport (Adidas) with distinction and stay in third place, with a total value of 12,649 million euros.

United States, France, Italy, Germany and Spain; In that order, they are the countries that contribute the most to the world ranking of valuation of textile firms. Unfortunately, they pointed to El Cronista Comercial from the consultancy, this survey that includes the 50 top brands in the sector does not include any Latin American brand, even when some companies such as Riachuelo, Havaianas, Arezzo, Hering, Topper, Pampero or Flecha were valued . All Brazilian and renowned, but still far from entering the international top 50.

The 100 most valuable textile firms in the world lost 14% in value due to the pandemic.

Other data from the Brand Finance report show that Korea with Fila (which is based in Seoul), is the country that increased its contribution the most (59%) to the ranking. This coincides with the brand that increased its value the most this year and moved up 17 places in the ranking, from 50 to 33. On the contrary, the United Kingdom with two brands, Burberry (which fell 30% in brand value) and Next (which did 10.5%), is the country that decreased the most with its contribution compared to 2020 (23%). .

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The surveyed analysts explained that the year has not been easy for Nike even though it has retained its leadership. The brand was forced to close most of its stores in North America, EMEA and Asia Pacific due to the pandemic. However, the brand made up for it with an impressive increase in online sales, which nearly doubled in Europe, the Middle East and Africa.

"Nike, an eminently innovative brand, has continued to surprise and invest in new technology for its products. Examples are the controversial Nike Vaporflys, a shoe that has dominated the international track and field arena in recent years. Nike can be considered once again as a brand that has helped change the face of world athletics and sport," the report states.

Another news from the company, with a goal of reducing waste, is that it has just announced that it will hand-clean shoes that are slightly worn or slightly imperfect, and resell them at a cheaper value in select Nike stores within 60 days of purchase.

Shoes

The ranking of the textile sector includes brands from various subsectors: luxury; sportswear; fast fashion; watches, accessories and jewelry; street designer; underwear; and footwear. Of all those, footwear is the only one that registered an increase in brand value year-over-year, an average growth of 9%.

Timberland and Converse, 2020's newest entries, have performed particularly well in the past year. They registered a brand value increase of 30.9% and 1.9%, respectively. Converse, owned by Nike, saw a modest increase in sales last year due to increased demand in Europe, while also posting higher digital sales globally.

Underwear

Underwear brands suffered the most this year, with the two brands featured in the ranking losing an average of 19% of brand value.

Victoria's Secret lost 26.2% in value to 3.5 billion euros. The brand faced backlash for a lack of diversity in its merchandising and model lineup, according to the report. "A problem that has only been exacerbated as Gen Z consumers, in particular, redefine social norms around body image," they said.

Brand Finance values ​​5,000 of the world's largest brands each year and the 50 most valuable brands in the apparel industry are included in the report. Trademark value is understood as the net economic benefit that the owner would achieve by licensing the trademark on the open market.