Nike has been awarded the title of the world’s most valuable apparel brand for the seventh consecutive year, despite a 12.5 percent drop in brand value to $30.4 billion, according to the Brand Finance Apparel 50 2021 report. Although Nike’s sales took a hit last year due to the pandemic, the brand saw its online sales almost double in Europe, the Middle East and Africa, Brand Finance analysts explained.

Nike has a considerable lead over the second-ranked brand, Gucci, whose value of $15.6 billion was down by 11.5 percent from its 2020 score. Louis Vuitton is third in the ranking with $14.9 billion, down by 9.8 percent. Adidas takes the fourth spot with $14.3 billion, declining by 13 percent, at about the same rate as Nike. The other names in the 2021 Top 10 Most Valuable Apparel Brands list are Chanel in the fifth spot, followed by Zara, Uniqlo, H&M, Cartier and Hermès. Outside the Top 10, Fila emerged as the fastest-growing brand with an impressive 68 percent increase in value to $2.7 billion.

The apparel ranking is divided into sub-sectors: luxury; sportswear; fast fashion; watches, accessories & jewelry; high street designer; underwear; and footwear. Among these sub-sectors, footwear was the only one to record an increase in brand value as compared to the previous report, posting a 9 percent increase in brand value on average. Sportswear recorded a drop in average total brand value of 7 percent.

Brand Finance, headquartered in London and with offices in more than 20 countries, is a brand valuation consultancy and accountancy firm that quantifies the financial value of brands to help organizations of all kinds make strategic decisions. It conducts more than 5,000 brand valuations, supported by original market research, every year. All the brand values in the latest report have a valuation date of Jan. 1st, 2021.