US casualwear chain Gap was the biggest fashion faller in the Interbrand Best Global Brands list this week but Swedish young fashion chain H&M made its chart debut.
The list, collated by specialist marketing firm Interbrand, measures global brands based on their financial success and their marketing strategies.
Gap fell 16 places to 77th position. It was the only fashion company to fall down the list.
Rune Gustafson, chief executive of Interbrand London, said: “With Gap, the middle ground has always been a battle ground and there has been a flight to quality [by the consumer], and a shift of economic spending power from West to East.”
Gustafson added: “H&M has a clear offer and is clear about what it stands for and has used designer collaborations to grow the choice.”
On the back of the global spending shift to new markets such as China, luxury brands climbed the Interbrand chart.
Louis Vuitton was the highest ranking fashion brand in the list this year at number 16, Gucci came in at 45 and Hermès was up on last year at 76. Armani was a new entry at 94.
In order to qualify for the Best Global Brands list at least one third of a company’s revenue must come from outside of its country of origin. The economic data relating to the company must be publicly available and the company must be in profit
Louis Vuitton 16
H&M – new 22
Armani – new 94
Gap 77 from 61