20 companies dominate the world's fashion industry. Here's who makes the list.
10. Kering — Gucci, Alexander McQueen, Balenciaga
9. Adidas
8. Ross Stores
Economic profit: $1.06 billion
Off-price retailer Ross Stores is known for offering a wide selection of well-known brands at discounted prices and providing customers with a treasure-hunt shopping experience that's hard to replicate online. It has been hailed as a "retail treasure" by analysts.
7. Richemont — Cartier, Chloé, Net-a-Porter
Economic profit: $1.07 billion
Richemont is the parent company of a host of jewelry and watches brands such as Vacheron Constantin, Cartier, and IWC Schaffhausen.
It also owns Net-a-Porter, the online fashion store selling a wide mix of designer brands.
6. H&M Group
Economic profit: $1.28 billion
H&M is best known for its cheap namesake brand but also runs more expensive stores such as & Other Stories and Cos.
H&M was considered one of the pioneers of the fast-fashion movement and continues to be one of the leading apparel companies in the world. However, in recent years, it has come under pressure as more nimble online brands have sped up supply-chain times.
Read more: The biggest difference between Zara and H&M explains why one is thriving while the other is flailing
5. Hermès
Economic profit: $1.35 billion
Luxury French brand Hermès is best known for its silk scarves and hand-stitched $10,000 Birkin handbags.
In its most recent quarterly results, it reported strong sales growth and a 14% increase in revenues in China, despite concerns of a potential slowdown in customer spending there.
4. TJX Companies — TJ Maxx, Marshalls
Economic profit: $1.97 billion
TJX Companies, the parent company of several off-price chains in the US, including TJ Maxx and Marshalls, is leading the American off-price market.
TJ Maxx offers discounts of between 20-60% on well-known brands and has reported strong same-store sales numbers for several years.
3. LVMH — Louis Vuitton, Givenchy, Dior, Marc Jacobs
Economic profit: $2.33 billion
Headquartered in Paris, LVMH is a luxury goods conglomerate that owns a wide range of designer brands including Louis Vuitton, Loewe, Céline, and Givenchy.
In the first nine months of 2018, revenues were up 10% at the company. Fashion and leather goods make up the largest portion of its business.
2. Nike
Economic profit: $3 billion
Nike does not only dominate the US athletic footwear market but is also considered to be one of the most powerful brands in the world.
In recent years, it has come under pressure in the US and lost sales to German rival Adidas, which has been offering new and differentiated products and reacting quickly to market demand.
1. Inditex — Zara, Massimo Dutti, Pull & Bear
Economic profit: $4 billion
Spanish-headquartered Inditex is the retail powerhouse behind brands such as Zara, Massimo Dutti, and Pull & Bear.
The company was founded by billionaire Amancio Ortega, who opened the first Zara store in northern Spain in 1975. Zara has since grown to become an enormous, 2,000-store chain, with a presence in 96 countries around the world.
Read more: Zara is part of the biggest fashion company in the world. Meet the other brands it owns.
Here is the full top 20 list, ranked:
- Inditex – Zara, Massimo Dutti — $4 billion
- Nike — $3 billion
- LVMH – Louis Vuitton, Givenchy, Dior, Marc Jacobs — $2.33 billion
- TJX Companies – TJ Maxx, Marshalls — $1.97 billion
- Hermès — $1.35 billion
- H&M — $1.28 billion
- Richemont — Cartier, Chloé, Net-a-Porter — $1.07 billion
- Ross Stores — $1.06 billion
- Adidas — $1.06 billion
- Kering — Gucci, Alexander McQueen, Balenciaga — $943 million
- L Brands — Victoria's Secret, Pink — $876 million
- Pandora — $871 million
- Fast Retailing — Uniqlo, Theory — $783 million
- Next (British clothing company) — $713 million
- VF Corporation — The North Face, Vans, Lee — $646 million
- Luxottica — $626 million
- Michael Kors — $597 million
- Gap — $537 million
- Hanes Brands — $495 million
- Burberry — $446 million
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