The report calculates that the total value of the world’s top 50 most valuable apparel brands has declined by 8%, decreasing to US$276.4 billion in 2021 compared to US$301.9 billion in 2020.
The apparel ranking is divided into sub sectors: luxury; sportswear; fast fashion; watches, accessories & jewellery; high street designer; underwear; and footwear. Of these sub sectors, footwear is the only one to record an increase in brand value year-on-year, posting a 9% increase in brand value on average.
New entrants Timberland and Converse have performed particularly well in 2021, recording a 47% and 8% brand value increase, respectively.
Italian sportswear manufacturer Fila is the fastest growing brand in 2021’s Brand Finance Apparel 50 ranking following an impressive 68% brand value increase to US$2.7 billion. Timberland and Bosideng are the second and third fastest growing brands, up 47% and 39% respectively. China’s Bosideng has entered the ranking in 50th position, with a brand value of US$1.5 billion.
In contrast, U.S. leather accessories brand Coach has recorded the biggest drop in brand value this year, falling 31% to US$4.7 billion. Coach’s parent company, Tapestry, has cited that forecasts across its brands are looking more positive than anticipated thanks to triple digit e-commerce growth and a strong rebound across the Chinese market.
Source: Brand Finance
