As per the latest research conducted by Brand Finance, Nike remains at the first rank for 7 years in a row. The ranking did not get affected despite the company’s downfall by 13%. Thanks to the company’s wise move of adapting its apparel to technology, the sales and reputation have thus increased.
The top 10 Apparel brands right now include,
- Louis Vuitton
How was the research conducted and what made Nike stand out?
More than 5000 companies were assessed based on names, signs, logo, brand value, and other parameters. It is also important to understand that all the brands across the world were deeply impacted 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 of the apparel brands in the world. Thankfully, the footwear section fared well helping Nike maintain its spot. 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 assist people with cerebral palsy to delving into the sustainable aspect of things with Nike Air, the brand has been smart enough to adapt to most of the trends followed today. Nike has evolved from being a luxury brand to an adaptive wear enterprise that manufactures shoes for people for all budgets and uses. The company has, time and again, encouraged men and women to remain fit and strive towards a lifestyle that makes them want to remain healthy.
These factors have helped the brand garner immense popularity, besides its continuous collaboration with some of the best celebrities and influencers in the world.
Is Nike one of your favourite brands?
Source: The Next Big Brand