Loewe and Zara are the most valuable Spanish fashion brands in the world according to the latest Apparel 50 2023 report from Brand Finance, the leading independent brand valuation consultancy.
Each year, leading brand valuation consultancy Brand Finance analyses the top 5,000 brands and publishes more than 100 reports ranking brands across industries and countries. The world’s 50 strongest and most valuable fashion brands are included in the annual Brand Finance Apparel 50 2023 ranking. The ranking is still led by Nike, for the 9th consecutive year, with a value of €30.2 billion. Rolex is the strongest brand with a score of 88 out of 100.
With a value of €10.6 billion, Zara is the most valuable Spanish brand in the world. Remaining in the top 10 (rank 9) globally in the sector ranking, the brand presided over by Marta Ortega has experienced a 5% drop in brand value and a 3 point drop in the strength ranking, according to the 2022 performance. According to the annual market study conducted by Brand Finance, this drop is due to the strong competition in the sector, especially online, with brands such as the Chinese Shein.
Within the luxury apparel segment, Loewe experienced a 33% growth in brand value, moving it up four places in the ranking to 46th. This growth has been driven by a stronger recovery trend in demand for luxury goods.
The textile sector experienced significant challenges due to the COVID-19 pandemic. There were temporary shop closures, supply chain disruptions and a decline in demand for clothing and textiles as people embraced working from home and reduced social activities. Brands are returning to the sustainability concerns they started before the pandemic.
Nike (brand value up 5% to €30.2 billion) retains its title as the world’s most valuable apparel brand. New Balance has entered this year’s ranking as one of the brands to watch. The brand’s reputation and popularity will soar following tennis sensation Coco Gauff’s recent win at the US Open. Her victory is expected to lead to an increase in sales, which will impact on the brand’s value and reinforce its positive reputation in the sports industry.
French fashion house Celine has been named the fastest growing brand, while iconic luxury brands continue to hold their own.
Celine has experienced remarkable growth under the creative direction of Hedi Slimane. Slimane’s innovative vision and brand revitalisation efforts, driven by advertising and network marketing campaigns, have played a crucial role in Celine’s growing brand value.
Luxury clothing has faced challenges and transformations in the post-pandemic era, with e-commerce and social media reshaping the landscape as ready-to-wear, everyday streetwear and athleisure gain popularity. However, luxury brands such as Dior, Louis Vuitton and Chanel have thrived on promising sales growth and the enduring strength of their brands.
Rolex is emerging as the strongest brand in the industry, while other Swiss watch brands are seeing their brand value increase.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics that assess marketing investment, brand equity and business performance. Rolex has become synonymous with luxury and timeless elegance. It is this combination of heritage, craftsmanship and a reputation for excellence that drives the Swiss watch brand’s enduring strength, with further strong performances from Omega, which rises to 20th position, and TAG Heuer, which climbs to 36th position.
Fast fashion giants continue to lose brand value and strength.
As sustainability becomes an increasingly important factor of choice, fast fashion companies such as H&M and Zara are seeing their strengths and reputations eroded. The decline in the strength of their brands could well be attributed to inaccurate communication and a lack of transparency on sustainability.
A case in point was when it was discovered that H&M’s Conscious Collection used largely synthetic materials derived from fossil fuels. This case reflects a wider trend in the industry, whereby retailers are resorting to “greenwashing” to mask cost-saving initiatives.
Nike also has the highest Sustainability Perception Value (SPV) with €2,265 million.
Nike has the highest Sustainability Perception Value among fashion brands 2023, at €2,265 million. The brand’s sustainability campaign “Move to Zero” has improved the global perception of the brand’s sustainability commitment. Nike is also actively engaging athletes in its sustainability efforts. The brand leverages its influence to promote ESG practices across the company, supporting positive change for communities around the globe.
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