Nike in the United States tops the global apparel list with a valuation of $30.44 billion

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Nike ended fiscal 2021 as the world’s most valuable apparel company. The company achieved a valuation of $30.44 billion in 2021, which placed it at the top of the top ten garment companies in the world. In fiscal 2020, the American multinational had made more than $44 billion in sales. It beat the other marks by a mile to get to this spot.

According to data presented by FinancePR.com, Nike’s North American business is the most lucrative. The region contributed more than $17 billion to the company’s revenue in 2021. Again, the US market is the largest, accounting for around 40% of its global earnings, Nike said in a press release.

“The apparel sector continues to thrive amid the global economic downturn. Nike continues to gain the upper hand here as they face moderate competition. This is because it has a highly differentiated product offering and consumer switching costs have remained low across the industry,” Edith reads from financePR.comnoted.

Nike ended fiscal 2021 as the world’s most valuable apparel company. The company achieved a valuation of $30.44 billion in 2021, which placed it at the top of the top ten garment companies in the world. In fiscal 2020, the American multinational had made more than $44 billion in sales. It beat the other marks by a mile to get to this spot.

Additionally, Nike generates revenue from three important segments. These are the apparel, footwear and equipment segments, of which the footwear segment is the largest and most profitable of all. It brought the company around $28 billion in sales in 2021.

Today, three factors continue to shape the global apparel market. First, there has been significant growth in developing economies. Second, the US economy has been slow to recover from the effects of COVID-19. There was a noticeable decline in the European market, the statement added.

Nike beat other reputable brands by a mile to get to this spot. For example, the second brand GUCCI reached a valuation of around 16 billion dollars. Louis Vuitton came in third with around $15 billion. Nike’s closest competitor in the sports segment, Adidas, closed at just over $14 billion.

Fibre2Fashion (RR) Press Office

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