Nike has been rated as the world’s most valuable apparel firm despite its recent challenges with its supply chain amid Covid restrictions.
The US firm hit a $30.44bn valuation in 2021, data presented by Finance PR has highlighted.
The footwear and clothing giant reported pandemic-related supply chain challenges last year, after it was forced to shut a number of factories in Asia amid tough restrictions.
Nike narrowly beat earnings expectations in its last quarterly earnings report, posting just a one per cent increase in revenue from a year before.
It put this down to supply chain issues, including “lower levels of available inventory” because of factory closures.
Gucci, Louis Vuitton, and Adidas were the second, third, and fourth highest valued apparel firms last year, analysis has also now revealed.
Gucci finished the year with a valuation of around $16bn while Louis Vuitton and Adidas posted valuations of around $15 and $14bn.
Edith Reads from FinancePR said: “The apparels sector continues to thrive amidst the global economy downtown. Nike continues to hold the upper hand here because it faces moderate competition. That’s because it has a highly differentiated product offering, and consumer switching costs have remained low.”
“While closures had an impact across our portfolio, North America and EMEA delivered growth due to higher levels of in-transit inventory entering the second quarter,” Nike said last year, following its earnings report.