Hermès grows, Nike plummets: Interbrand ranking reveals fashion industry winners and losers

The latest “Best Global Brands” ranking from New York-based brand consultancy Interbrand reveals increasing polarisation in the international fashion market. While Hermès, Chanel, Zara and Uniqlo gain brand value, Nike, Gucci and Prada suffer significant losses. Notably, traditional brand strength alone no longer protects against decline.

French luxury brand Hermès is one of the major winners in this year's “Best Global Brands” ranking by Interbrand. With a brand value of 45.2 billion dollars and an increase of 10.6 percent, the fashion house ranks 15th in the overall global ranking, which is led by Apple, Microsoft and Google. This makes Hermès the most valuable fashion label among the analysed fashion and sportswear brands. Louis Vuitton follows closely behind in 16th place. However, the brand experienced a 6.9 percent decline to 45.1 billion dollars.

Chanel also shows positive development, with its brand value rising by 8.1 percent to 32.9 billion dollars. The results highlight growing polarisation within the luxury segment. While some houses are expanding their desirability and economic strength, others are coming under pressure.

Nike records sharpest drop

The development is particularly pronounced among sportswear brands. Nike loses 35.5 percent of its brand value, landing in 32nd place at 21.7 billion dollars. This makes the US sportswear manufacturer one of the biggest losers in the entire ranking. The reasons include a strategic shift towards direct-to-consumer sales from 2020 onwards and a neglect of sport in favour of financial targets. Adidas also records a decline, with its brand value falling by 7.9 percent to 16.1 billion dollars. The German brand consequently ranks 56th.

This trend demonstrates that an established global brand position does not automatically guarantee economic stability. Particularly in the sportswear and lifestyle segment, it is becoming increasingly important to continuously evolve brand identity and remain relevant to consumers.

Zara and Uniqlo set positive benchmarks

The international fashion retail segment is performing significantly better. Zara increases its brand value by 11.2 percent to 21.6 billion dollars, reaching 33rd place. This places the Spanish Inditex brand directly behind Nike in the ranking.

Uniqlo is growing even more strongly. The Japanese brand gains 16.2 percent to reach 20.5 billion dollars, securing 38th place. Its clear brand promise centred around functional, timeless clothing and textile quality appears to be paying off. Conversely, H&M loses 12.1 percent, ranking 80th with a brand value of 10.4 billion dollars.

These contrasting developments make it clear that international fashion retail is not solely about price and product assortment. A distinct positioning and a relatable brand promise are gaining importance.

Gucci and Prada lose significant brand value

Substantial differences are also evident within luxury fashion. While Hermès and Chanel grow, Gucci and Prada face significant losses. Gucci loses 30.7 percent of its brand value, falling to 8.1 billion dollars. The brand ranks 93rd. Prada records a decrease of 15.1 percent, landing in 96th place at 7.6 billion dollars. Dior ranks 85th with a 5 percent decline and a brand value of 8.9 billion dollars.

The results underscore that heritage, awareness and a long design history alone are insufficient to remain successful in the long term. A decisive factor is evidently how convincingly a brand translates its identity into the present and generates new demand.

Brand strength alone is no longer enough

In this year's analysis, Interbrand particularly emphasises the importance of cultural relevance, brand desirability and compelling customer experiences.

In the 2026 ranking, the consultancy observes a widening gap between brands that convert their strength into economic growth and those that rely more heavily on their existing reputation. The total value of all 100 listed brands rises by 8.1 percent to approximately 3.87 trillion dollars.

This presents a nuanced picture for the fashion industry. Hermès demonstrates that exclusivity and desirability can continue to form a strong economic foundation. Zara and Uniqlo prove that clearly positioned fashion retail concepts can also grow internationally. Simultaneously, the declines at Nike, Gucci and Prada highlight how quickly even established brands can lose value.