Apparel Online India Magazine April 2nd Issue 2018 | Page 15

RETAIL CURRENT
Nike emerges as Most Valuable Apparel Brand
in the world
Oregon (US)-based sportswear
giant Nike has emerged as the most
valuable apparel brand in the world
in a report by Brand Finance, the
world’s leading independent brand
valuation and strategy consultancy.
Despite a 12 per cent drop in the
brand value to US $ 28.0 billion,
Nike remained at the top position.
It was a tough year for Nike as it
experienced a decline in popularity
among teenagers, especially in
North America. Inappropriate
behaviour among executives and
managers of Nike has also emerged
as challenge for the retailer. The
solutions in place to deal with the
situation are also likely to result in
further decrease in brand’s strength
and value next year, the report
added. and the strongly increasing
popularity of competitors such
as H&M and Zara would create a
challenging environment for Nike.
According to Richard Haigh
MD, Brand Finance, the steep
competition to maximize on the
sporting apparel trend, coupled with
increased choice could threaten
Nike’s future position. Boom in retail
industry trends via online platforms Swedish fashion brand H&M,
which faced controversies this year
including racism headlines that it
made, ranked second, ahead of its
Spanish rival Zara which grabbed
the third position on the annual
list. Adidas, Hermes Paris, Louis
Vuitton, Cartier owned by the
Richemont Group, Gucci, Japan-
based Uniqlo and Rolex were
among top ten brands in Brand
Finance Apparel 50 league table,
the ‘Brand Value’.
This year, Hermes which overtook
Louis Vuitton, Cartier and Gucci
– the top four luxury brands,
witnessed a very strong brand
value growth due to consumer’s
rising inclination towards luxury
products. Victoria’s Secret, Under
Armour, Prada, Burberry and Calvin
Klein were also named in the top
50 list. Notably, Brand Finance
was set up in 1996 with an aim of
‘bridging the gap between marketing
and finance’. For more than 20
years, it has helped companies and
organisations of all types to connect
their brands to the bottom line.
M&S restructures leadership team to remodel
its fashion retail business
British retail giant Marks &
Spencer (M&S) has merged its
womenswear and kidswear
teams in order to form a new
Leadership Team to take care
of the overhaul of its clothing
and home businesses. This was
announced by Clothing & Home
Managing Director Jill McDonald
in the press statement issued.
Post-merger, Jill Stanton, known
for his outstanding commercial,
product and retail experience,
will work as Womenswear and
Kidswear Director, effective July
this year. She has earlier taken
care of the global responsibility
for clothing at Next, Dewhirst
and Nike brands. Most recently
she was Executive Vice President
at Old Navy. Her role was vital in
the label’s turnaround; she also
acted as an Interim President
here. On the other hand, Laura
Charles, a key member of the
team driving M&S’ market
leading Lingerie position since
2014, has now been promoted
to the new position of Lingerie
Director while Neil Harrison
has been given the additional
responsibility of the Beauty
Division. opportunities. Kerr has been
associated with M&S for 35
years. Womenswear & Lingerie
Design Director Queralt Ferrer
is also leaving the company
to stay with her family in
Amsterdam, as reported. for their role in the success of
other high-profile brands. He is
confident that they will bring the
same value to M&S and prove
that the presence of Stanton and
Taylor is right for the leadership
team.
In addition to the announcement
of the Leadership Team,
M&S has also announced the
appointment of Wes Taylor,
who has more than 30 years’
experience in fashion retailing,
as a menswear expert; effective
May 2018. Both Michael and Queralt
contributed significantly to the
growth of M&S over the years.
The current Kidswear Director
Michael Kerr is also stepping
down to pursue other career Commenting on the formation of
the Leadership Team, McDonald
stated that both are known
Further, the retailer said it
would speed up store closures,
accelerate the relocation and
downsizing of other stores. “We
have a clear plan to become more
relevant to more people by offering
right products at the right prices,”
stated McDonald.
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