Each one of the top 10 apparel brands in the world are big names in the fashion industry. These brands not only have their own unique style and quality, but have also become fashion statements and status symbols in their own right. While some of these brands belong to the high-end luxury segment, the others fall more on the casual side of the fashion ledger.
Fashion is driven by changing trends and evolves rapidly. With rapid communication enabled by social media, consumers today have become much more demanding. Demand for high-end fashion products is also increasing rapidly, especially in the Asia, North America and Western Europe regions. Most of the merchandise sold in Western countries is imported from China and other Asian countries like Indonesia and Vietnam. These nations have become leading apparel manufacturing hubs owing to their low cost of production. E-commerce has made a major impact in this industry and many of the top 10 apparel brands in the world today offer a mix of online and offline sales channels.
Many of these companies started out as local brands but today have a global clientele. Rapid globalization and internet penetration has helped these brands expand their businesses around the globe. According to Statista, the global apparel market is poised to grow in most of the major regions. The United States’ apparel market alone is estimated to grow at a CAGR of 2% to $285 billion by 2025, up from $225 billion in 2012. These fashion brands with their global reach, consumer loyalty and stylish merchandise will surely benefit from this growth trend. The apparel industry is a major contributor to the economies of many countries. According to Fashion United, the global apparel market accounts for 2% of the world’s Gross Domestic Product (GDP) and is valued at $3 trillion.
Over the next few pages we’ll share the list of the top 10 apparel brands in the world, based on their Forbes brand value. For further reading on popular and powerful brands, check out the Top 10 Luxury Brands in the World.