According to the latest research by Brand Finance, Nike remains in the top spot for 7 years in a row. The ranking was not affected despite the company’s fall by 13%. Thanks to the company’s wise decision to adapt its apparel to technology, sales and reputation have increased.
The top 10 clothing brands right now include,
- Louis Vuitton
How was the research done and what made Nike stand out?
More than 5,000 companies were evaluated based on names, signs, logos, brand equity and other parameters. It is also important to understand that all brands around the world were deeply affected due to the coronavirus pandemic.
Around 50 global brands experienced an 8% decline in brand value. From $ 299.9 billion to $ 274.4 billion, the year 2020-2021 was not too smooth for most clothing brands in the world. Fortunately, the footwear section did well in helping Nike maintain its place. The same trend was noticed for brands like Timberland and Converse, and they will be able to witness exponential growth, even in 2021.
From creating shoes to help people with cerebral palsy to delving into the sustainable side of things with Nike Air, the brand has been smart enough to adapt to most of the trends that are being followed today. Nike has grown from a luxury brand to a tailored clothing company that makes shoes for people for all budgets and uses. The company, time and again, has encouraged men and women to stay fit and strive for a lifestyle that makes them want to stay healthy.
These factors have helped the brand gain immense popularity, in addition to its continued collaboration with some of the best celebrities and influencers in the world.
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