US Sportswear and shoe brand Nike has consolidated its position as the most valuable apparel brand in the world this year with a value of $32.4 billion.
This figure means that the brand’s value – a figure which Brand Finance defines as the net economic benefit that can be achieved by a brand owner by licensing its brand in the open market – has increased 16% since last year and ensures that the US brand continues to be the market leader in the segment, in.fashionnetwork.com has reported quoting a new study from brand valuation and strategy consultancy Brand Finance.
The Nike dominance is cemented through a high-impact marketing strategy responsible for the likes of the brand’s controversial “Dream Crazy” advert featuring Colin Kaepernick. The repercussions of this campaign made front-page news as some US fans reacted negatively to the move but the weekend following the ad’s launch saw Nike’s sales soar.
“Nike’s bold marketing makes it stand out in a busy marketplace of sportswear apparel brands,” explained Brand Finance Managing Director Richard Haigh in a release. “In a time when customers look for experiences and emotional connection, Nike’s offering comes with unambiguous messages and values that people can rally behind.”
Adidas comes third behind fashion brand Zara. The German brand’s value rose an impressive 17% to reach $16.7 billion. The European label also took a chunk out of Nike’s North American market but, given the current distance between the two brands’ values, its US-based competitor seems fairly secure in its leadership.
The biggest gain, however, came from Uniqlo. The Japanese casual wear retailer slid into seventh place for 2019 thanks to a 48% rise in its brand value, which now totals $12.0 billion. The brand last year had taken away Roger Federer from the Nike camp in one of the most talked about sport icon deals.
This progress was driven by strategic initiatives at the label, including its ongoing international expansion and its recent collaboration with tennis player Roger Federer. Moving forward, the brand has announced that it is aiming to become the largest apparel retailer in the world by 2020, principally by driving sales in the US, China and online.
According to Brand Finance, this separate ranking calculates “the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Along with the level of revenues, brand strength is a crucial driver of brand value.”
Here Nike came in second with a BSI of 87.4, followed by Prada (86.6), Gucci (85.5) and Zara (85.1) in third, fourth and fifth places, respectively. All of these brands achieved an AAA rating, with only Rolex gaining a “+” for its stellar performance.
Brand Finance, which runs offices in over 20 countries, publishes its Apparel 50 report annually.
The post Nike stays as world’s most valuable apparel brand: Report appeared first on InsideSport.
https://ift.tt/2Eur6K7
Comments
Post a Comment