Nike, Inc. is American athletic footwear and apparel has retained its position as the world’s most valuable apparel brand despite dips in brand value from slower revenue growth this year, registered at $31.3bn in 2023, which is 6% down from $33.2bn in 2022.
Nike beat out luxury fashion houses Louis Vuitton, Chanel and Gucci in the ranking which came in second, third and fourth respectively.
Annie Brown, General Manager of Brand Finance UK, said, “From its relentless commitment to innovation, ability to stay ahead of market trends, and extensive partnerships with athletes worldwide, Nike has firmly cemented its place at the top of the apparel industry. In 2023, the brand is continuing to leverage its enormous global influence and reputation to empower positive change in the sporting world and beyond.”
Besides that, renowned luxury Louis Vuitton registered up 12% to $26.3 bn, where Chanel’s value up 27% to $19.4 bn, Gucci brand value $17.8bn, Adidas $15.7bn and Hermes $14.2bn.