The luxury goods titan LVMH, founded in 1987 through the merger of Louis Vuitton with Moët Hennessy and now home to 75 iconic luxury brands, continues to dominate the global luxury market. A recent Statista report reveals that LVMH has maintained its position as the world's leading apparel and accessories company, generating an impressive $93.1 billion in sales. This figure puts LVMH substantially ahead of its closest competitor, Nike, with an approximately $39 billion difference.
The luxury conglomerate's success can be attributed to its portfolio of prestigious brands, including Christian Dior, which has successfully adapted to cultural trends while maintaining brand exclusivity. Dior has particularly attracted younger customers through high-end streetwear offerings and continues to show strong performance in Asia, where about one-third of its worldwide revenue is generated.
Global Apparel Leaders by Sales 2023/24
| Rank | Company | Sales (in billion U.S. dollars) |
|---|---|---|
| 1 | LVMH | 93.1 |
| 2 | TJX Cos | 54.2 |
| 3 | Nike | 51.6 |
| 4 | Inditex | 38.9 |
| 5 | Adidas | 23.4 |
| 6 | Richemont | 22.4 |
| 7 | H&M | 22.1 |
| 8 | Kering | 21.2 |
| 9 | Ross Stores | 20.4 |
| 10 | Fast Retailing | 20.2 |
Global Apparel Industry Runner-Ups
The sportswear segment continues to thrive, with Nike and Adidas benefiting from the growing popularity of street and sneaker cultures. Together, these sportswear giants boast a combined brand value exceeding $70 billion worldwide, with their footwear segments alone generating approximately $42 billion in combined revenue.
Inditex, owner of popular brands like Zara and Massimo Dutti, ranks fourth with $38.9 billion in sales. The company has leveraged its fast fashion business model to maintain a competitive edge, rapidly moving designs from concept to store shelves, sometimes in as little as 15 days. In 2023, Inditex generated around 35.95 billion euros in net sales, with the majority coming from European operations, where revenues exceeded 24 billion euros.
TJX Cos, the parent company of off-price retailers like T.J. Maxx, Marshalls, and HomeGoods, secured the second position with $54.2 billion in sales, demonstrating the continued strength of the discount retail sector in the apparel market.
Luxury groups continue to show strong performance, with Richemont ($22.4 billion) and Kering ($21.2 billion) both appearing in the top ten. Richemont, known for brands like Cartier and Montblanc, has maintained its position through strong jewelry and watch sales, while Kering, home to Gucci and Saint Laurent, has focused on digital innovation and sustainability initiatives.
H&M ranks seventh with $22.1 billion in sales, maintaining its position as one of the world's largest fast fashion retailers despite increased competition from online-first brands and growing consumer concerns about sustainability in the fashion industry.
Ross Stores, another off-price retailer, secured the ninth position with $20.4 billion in sales, further highlighting consumers' continued interest in discount shopping experiences for apparel and accessories.
Fast Retailing, Uniqlo's parent company, rounds out the top ten with $20.2 billion in sales. Uniqlo has shown resilience in recent years. It was one of the few major apparel brands to increase its brand value during the pandemic, growing by 1.5% when many competitors experienced double-digit declines.
