Just when Nike founder Phil Knight stepped down as its chairman, the brand was just named the most valuable apparel brand in the world and now, the biggest US apparel company in terms of revenue last 2014.
Nike reports almost $31 billion in annual sales, which is a large margin compared to Ralph Lauren coming in at number two with only $7.6 billion.
Nike’s unprecedented growth is attributed to the growing activewear market, strong branding, and global product offering.
Following the two megabrands are sister companies Old Navy and Gap, with only a few millions in difference. Despite Gap slashing out some of its stores, its position at number four stays strong at $6.2 billio.
Other notable brands in the list are Michael Kors, Tommy Hilfiger, and activewear company Under Armour.
Nine out of the ten biggest US apparel companies are made available here locally through their physical stores, with the exception of Coach. This local visibility could be proof of a strong worldwide presence these brands have in other markets separate from their home country.
See the full list below, each brand with its corresponding annual revenue in 2014:
1. Nike, $30.6 billion
2. Ralph Lauren, $7.6 billion
3. Old Navy, $6.6 billion
4. Gap, $6.2 billion
5. Michael Kors, $4.4 billion
6. Coach, $4.3 billion
7. Tommy Hilfiger, $3.6 billion
8. American Eagle, $3.3 billion
9. Under Armour, $3.1 billion
10.Banana Republic, $2.9 billion
Call Custom Apparel Source to get yourself on this list someday…We believe in you, and we can make it happen. Mariellen Auer at 704-236-0568.