Nike Ranked Most Valuable Apparel Brand Seventh Consecutive Year
14 April 2021: Nike ranked as the world’s most valuable apparel brand for the seventh consecutive year, although the brand value was down 13% percent to US$30.4 billion, according to the Brand Finance Apparel 50 – 2021 report.
In a press release, Brand Finance noted that Nike’s sales were affected last year as the pandemic forced the brand to shutter a majority of its retail store in North America, EMEA and the Asia Pacific.
Brand Finance wrote, “Nike – a brand eminent in innovation has continued to make leaps and bounds with new technology in its products, most significantly the controversial Nike Vaporfly, a shoe that has dominated the international athletics arena in recent years, with athletes wearing them claiming 31 of the 36 podium positions in the six world marathon majors in 2019. With the shoe surviving a ban for the now-postponed Tokyo Olympics, Nike can once again showcase itself as a brand that has helped to change the face of world athletics and sport.”
New entrants in its report, Timberland and Converse, performed well this year, recording a 47% and 8% brand value increase, respectively.
In contrast, 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’s brand value was down 22% to US$4.2 billion and the third-fastest falling brand in its ranking.