Winning, it seems, really is a habit for Nike. The athletic gear giant is the world’s most valuable clothing brand.
Forbes released its latest list of the World’s 100 Most Valuable Brands 2016, with Nike in the No. 18 spot, the first apparel brand on the list.
It’s the same spot the retailer held last year, but this year, it edged out luxury retailer Louis Vuitton (No. 19 this year, No. 14 last year), indicating the world’s increasing adoption of athletic gear as everyday wear.
In March, Nike reported third quarter revenues up 8 percent to $8 billion, and Forbes values the brand $27.5 billion, a 5 percent increase in value over last year. Louis Vuitton is worth an estimated $27.3 billion but its value slid 3 percent since the 2015 list.
The most valuable brands on the list are those that generate significant earnings in industries where branding plays a major role, and all were required to have “more than a token presence” in the U.S.
Apple topped the list overall with a brand value of $154.1 billion, and Amazon—which may not yet be considered an apparel brand but is making moves in that direction—came in at No. 12, valued at $35.2 billion.
Walmart (No. 22), H&M (33), Gucci (44) and Hermes (48) were the only other apparel brands to make the top 50, with Zara barely missing the mark, taking the No. 53 with a $10.7 billion brand value.
American brands made up more than half of the list, with 52 brands ranked, and luxury and retail were among the top industries, each with eight brands included.
“Brands get their value from how customers perceive them,” David Reibstein, a professor of marketing and branding export at the University of Pennsylvania’s Wharton School told Forbes. “What makes it valuable from a company perspective is that customers are willing to pay a higher price or are more likely to buy.”