The apparel industry is one of the fastest-growing and most popular industries in the world. This industry caters to not only the rich but to also all the middle and lower-middle-class families making it one that reaches larger masses.
But it is true, that the brands that cater to the rich and super-rich are the ones that are ruling the global market. If one has to rank these brands on the basis of their value, the most basic way is to compare their market cap. But one also needs to consider its popularity to make the ranking more relateable.
As per the market valuation for the last two years, these are the top 10 fashion brands in the world right now. (Source Statista)
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As reported by Brand Finance, the new report finds that amongst the top 50 apparel industry brands, the aggregate brand value of luxury apparel brands has grown 21% this year (from US$103 billion to US$125 billion).
The sportswear brands have grown 10% this year (from US$68 billion to US$74 billion) while fast fashion brands have dropped 7% (from US$44 billion to US$41 billion).
Since the onset of the pandemic, people have been inclined toward taking care of their physical health. This has led to a substantial increase in athletic wear and accessories. This is the reason that both Nike and Adidas have made it to the list of the top 10 most valued fashion brands.
The trend of athlete wear leading the charts is yet to continue in the coming years as people have become a lot more health-conscious than ever.