Nike has been crowned as the world’s most valuable fashion brand, according to a new report from valuation and strategy consultancy, Brand Finance. From its humble beginnings, the Beaverton-based brand has now been valued at a whopping $32.4 billion — up 16% compared to last year.
“Nike’s bold marketing makes it stand out in a busy marketplace of sportswear apparel brands, in a time when customers look for experiences and emotional connection,” explains Richard Haigh, Managing director of Brand Finance.
In comparison, the label’s main rival, adidas, rose by 17% to $16.7 billion placing it at number three in the list. While the Three Stripes stole some market share from the Swoosh’s North American market, Nike’s brand value remains nearly double that of adidas, with healthy sales growth in China, Europe, the Middle East and Africa during the course of the year.
Luxury fashion houses account for seven out of the top ten strongest apparel brands, showing importance of brand strength in the segment as seen with Louis Vuitton and Gucci, which grew by 29% and 19%, respectively. This increase can be due to the shift towards streetwear and opening up to younger audience.
Take a look at the top ten list below, and let us know what you think of the results! In related news, take your first look at the brand new Nike Air VaporMax 3.0 ‘Triple Black’!