20 World’s Biggest Fashion Companies

 

20 World’s Biggest Fashion Companies in 2023

 

20 World’s Biggest Fashion Companies– Based on the annual report in 2023, there are 20 World’s Biggest Fashion Companies with billion dollars of income and assets. Commonly, they are some of the biggest companies with diversified and high-class products. Maybe many customers hunt their products and sacrifice a large amount of money to buy their products.

 

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As a human, some of us has different standard about fashion. It depends on lifestyle, economic factors, habits, social factors, and culture. With distinct aspects in global, each region has different fashions habits. Of course, the market of fashion is very wide across the country.

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Fashion is a dynamic world, full of challenges, and competition. Historically, New, or old brands, senior or junior designers are always faced with the same challenge to produce quality products that can be sold. The fashion industries have become a lifestyle to humans. From time to time, there is a new breakthrough and innovation with the development of lifestyle in fashion industries. Overall, these companies have its identity of products. Many consumers fell in love with their products. Here are the 20 World’s Biggest Fashion Companies in 2023.

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The Rank of 20 World’s Biggest Fashion Companies Based on Net Income in 2023

Rank	Name of Companies	Revenue	Revenue	Net Income	Net Income
		Origin Currency	US Dollar	Origin Currency	US Dollar
1	Louis Vuitton	EUR 86.1 billion	USD 95.6 billion	EUR 15.1 billion	USD 16.7 billion
2	Inditex	EUR 35.9 billion	USD 39.8 billion	EUR 5.3 billion	USD 5.8 billion
3	Nike	USD 51.3 billion	USD 51.3 billion	USD 5.7 billion	USD 5.7 billion
4	Hermes	EUR 13.4 billion	USD 14.8 billion	EUR 4.3 billion	USD 4.7 billion
5	TJX	USD 54.2 billion	USD 54.2 billion	USD 4.4 billion	USD 4.4 billion
6	Kering	EUR 19.5 billion	USD 21.6 billion	EUR 3 billion	USD 3.3 billion
7	EssilorLuxottica	EUR 25.3 billion	USD 28 billion	EUR 2.9 billion	USD 3.2 billion
8	Richemont	EUR 20.6 billion	USD 22.8 billion	EUR 2.3 billion	USD 2.5 billion
9	Fast Retailing	USD 18.9 billion	USD 18.9 billion	USD 2.1 billion	USD 2.1 billion
10	Ross Stores	USD 20.3 billion	USD 20.3 billion	USD 1.8 billion	USD 1.8 billion
11	H&M	SEK 236 billion	USD 23.3 billion	SEK 8.7 billion	USD 0.86 billion
12	Prada	EUR 4.7 billion	USD 5.2 billion	EUR 0.67 billion	USD 0.7 billion
13	PVH	USD 8.7 billion	USD 8.7 billion	USD 0.66 billion	USD 0.66 billion
14	Ralp Lauren	USD 6.6 billion	USD 6.6 billion	USD 0.64 billion	USD 0.64 billion
15	El Corte Inglés Group	EUR 14.4 billion	USD 15.9 billion	EUR 0.50 billion	USD 0.55 billion
16	Li-Ning	RMB 27.5 billion	USD 4.4 billion	RMB 3 billion	USD 0.49 billion
17	Hugo Boss	EUR 4.1 billion	USD 4.5 billion	EUR 0.269 billion	USD 0.29 billion
18	Puma	EUR 8.6 billion	USD 9.5 billion	EUR 0.253 billion	USD 0.28 billion
19	Under Armour	USD 5.7 billion	USD 5.7 billion	USD 0.23 billion	USD 0.23 billion
20	Fila	KRW 4 trillion	USD 3 billion	KRW 153 Brillion	USD 0.11 billion
21	Victoria Secret & Co	USD 6.1 billion	USD 6.1 billion	USD 0.11 billion	USD 0.11 billion
22	Adidas	EUR 21.4 billion	USD 23.7 billion	(EUR -0.014 billion)	(-0.015 billion)
23	VF	USD 10.4 billion	USD 10.4 billion	(USD -0.96 billion)	(USD -0.96 billion)
Source: Annual Report, 2023
Currency Rates:
1 Euro = 1.11 US Dollar (USD)
1 Yuan Renminbi (CNY) = 0.16 US Dollar (USD)
1 Korean Won (KRW) = 0.00085 US Dollar (USD)
1 Swedish Krona (SEK) = 0.099 US Dollar (USD)
Origin Currency - The Currency that Officially Used in Annual Report of 2023
US Dollar- The Converted Currency from Origin Currency to US Dollar With Currency Standart Above

 

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As additional data, we also presented some of the statistical numbers of assets and liabilities. These variables are obtained from the balance sheet of each company in the Annual report of 2023. The rank of the company is based on the assets that the company had in 2023.

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The Rank of 20 World’s Biggest Fashion Companies Based on Assets in 2023

Rank	Name of Companies	Assets	Assets	Liabilities	Liabilities
		Origin Currency	US Dollar	Origin Currency	US Dollar
1	Louis Vuitton	EUR 144 billion	USD 159 billion	EUR 80.6 billion	USD 89.7 billion
2	EssilorLuxottica	EUR 60.5 billion	USD 67.1 billion	EUR 21.5 billion	USD 23.8 billion
3	Richemont	EUR 42.6 billion	USD 47.2 billion	EUR 22 billion	USD 24.4 billion
4	Kering	EUR 41.3 billion	USD 45.8 billion	EUR 25.3 billion	USD 28 billion
5	Nike	USD 38.5 billion	USD 38.5 billion	USD 23.7 billion	USD 23.7 billion
6	Inditex	EUR 32.7 billion	USD 36.2 billion	EUR 14 billion	USD 15.5 billion
7	TJX	USD 29.7 billion	USD 29.7 billion	USD 22.4 billion	USD 22.4 billion
8	Hermes	EUR 20.4 billion	USD 22.6 billion	EUR 5.1 billion	USD 5.6 billion
9	Fast Retailing	USD 22.5 billion	USD 22.5 billion	USD 9.7 billion	USD 9.7 billion
10	Adidas	EUR 18 billion	USD 19.9 billion	EUR 13 billion	USD 14.3 billion
11	H&M	SEK 181 billion	USD 17.9 billion	SEK 133 billion	USD 13.1 billion
12	El Corte Inglés Group	EUR 14.2 billion	USD 15.7 billion	EUR 7.3 billion	USD 8.1 billion
13	Ross Stores	USD 14.3 billion	USD 14.3 billion	USD 9.5 billion	USD 9.5 billion
14	VF	USD 11.6 billion	USD 11.6 billion	USD 9.9 billion	USD 9.9 billion
15	PVH	USD 11.1 billion	USD 11.1 billion	USD 6 billion	USD 6 billion
16	Prada	EUR 7.6 billion	USD 8.4 billion	EUR 3.7 billion	USD 4.1 billion
17	Puma	EUR 6.6 billion	USD 7.3 billion	EUR 4 billion	USD 4.4 billion
18	Ralp Lauren	USD 6.6 billion	USD 6.6 billion	USD 4.1 billion	USD 4.1 billion
19	Li-Ning	RMB 34.2 billion	USD 5.4 billion	RMB 9.8 billion	USD 1.5 billion
20	Under Armour	USD 4.7 billion	USD 4.7 billion	USD 2.6 billion	USD 2.6 billion
21	Victoria Secret & Co	USD 4.6 billion	USD 4.6 billion	USD 4.1 billion	USD 4.1 billion
22	Hugo Boss	EUR 3.4 billion	USD 3.7 billion	EUR 2.1 billion	USD 2.3 billion
23	Fila	KRW 4.9 Trillion	USD 3.6 billion	KRW 2.4 trillion	USD 1.8 billion
Source : Annual Report, 2023
Currency Rates :
1 Euro = 1.13 US Dollar (USD)
1 Yuan Renminbi (CNY) = 0.16 US Dollar (USD)
1 Korean Won (KRW) = 0.00085 US Dollar (USD)
1 Swedish Krona (SEK) = 0.099 US Dollar (USD)
Origin Currency - The Currency that Officially Used in Annual Report of 2023
US Dollar- The Converted Currency from Origin Currency to US Dollar With Currency Standart Above

 

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Brief Description of 20 World’s Biggest Fashion Companies

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 1.    Louis Vuitton Moët Hennessy (LVMH)  

LVMH Moët Hennessy Louis Vuitton or commonly known as LMVH is founded in 1987 through the merger of the fashion house Luis Vuitton (Founded in 1854) and Moet Hennessy (Founded in 1971). Along with the development of its business, as of 2023, LVMH has 6,097 official stores, 75 maisons (luxury fashion brands), and has employed more than 213 thousand of people. To date, the LMVH was led by Bernard Arnault (Chairman and Chief Executive Officer).

As a global company, LVMH has some outstanding brands in some Sectors. These sectors are Wine and Spirit, Fashion and Leather goods, Perfume and Cosmetics, Watches, and Jewellery. In the Fashion and leather sectors, this company has diversified brands of fashion and leather goods. these brands include Berluti, Celine, Christian Dior, Emilio Pucci, Fendi, Givenchy, JW Anderson, Kenzo, Loewe, Loro Piana, Louis Vuitton, Marc Jacobs, Moynat, Off-White, Patou, Phoebe Philo, Rimowa, Stella McCartney, and others.

Financially, in 2023, according to the Annual Report of the fashion companies, Louis Vuitton’s total assets had become EUR 144 billion / USD 159 billion with total liabilities around EUR 80.6 billion / USD 89.7 billion. Based on the business performance, Louis Vuitton gained revenue EUR 86.1 billion / USD 95.6 billion with net income around Louis Vuitton EUR 15.1 billion / USD 16.7 billion.

 

2. EssilorLuxottica

EssilorLuxottica is a global leader in the production, manufacture, and distribution of ophthalmic lenses, frames, and sunglasses. The Italian Luxottica and the French Essilor merged to form this company on October 1st, 2018.  Nowadays, this company has over 72,000 employees in 85 countries.

Based on the portfolio prodcuts, EssilorLuxottica has some brands. The lens brands of Essilor Luxottiva are Essilor, Varilux, Crizal, Eyezen, Stellest, Xperio, Transitions, Ray-Ban, Oakley, and Barberini. Meanwhile, the brand of eyewear of EssilorLuxitoca was Ray-Ban, Oakley, Persol, Oliver Peoples, Vogue Eyewear, Arnette, Alain Mikli, Costa, Native Eyewear, and Bolon.

EssilorLuxottica Group has been performing well in 2023. According to the balance sheet in 2023, the EssilorLuxottica’s total assets had become EUR 60.5 billion / USD 67.1 billion with total liabilities around EUR 21.5 billion / USD 23.8 billion. Based on the business performance, EssilorLuxottica gained revenue around EUR 25.3 billion / USD 28 billion and net income of EUR 2.9 billion / USD 3.2 billion.   

3. Richemont

Compagnie Financière Richemont S.A., is one of the luxury goods companies founded in Geneva, Switzerland in 1988.  Commonly, this company manages some of the most prestigious names in the industry, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC Schaffhausen, and Montblanc. Along with the development of its business, the total number of employees of this company reaches 35 thousand people.

Richemont in 2023 was in positive performance. The assets of the company reached EUR 42.6 billion / USD 47.2 billion with total liabilities around EUR 22 billion / USD 24.4 billion. In the business performance, Richemont’s revenue reached EUR 20.6 billion / USD 22.8 billion and gained net income around EUR 2.3 billion / USD 2.5 billion.

4. Nike

Nike, Inc. is an American multinational company that has many diversified products of sports fashions. Historically, this company was founded by Bill Bowerman and Phil Knight in January 1964. Culturally, the name of Nike comes from the goddes mythology in Greece. The nike symbolizes the goddess of victory and success.  Along with Business Development of Nike from time time, Nike had launched some brands, namely Converse and Jordan Brand. Nike acquire Coverse in 2003 with cost of 300 million US Dollar. Meanwhile, Jordan Brand is the successful partnership between nike and Michael Jordan, a legendary NBA basketball player with 6-time championships playing with Chicago Bulls.

Operationally, Nike still has a primary office in Beaverton, Oregon, USA. Financially, Nike in 2023 is still in excellent positions and performance. The Nike’s total assets was 38.5 billion US Dollar with total liabilities around 23.7 billion US Dollar. Based on the business performance in 2023, Nike gained revenue around 51.3 billion US Dollar and net income around 5.7 billion US Dollar.          

5. Kering

 

Kering is a French multinational corporation that has diversified luxury goods Founded by François Pinault in 1963. This company owns the luxury brands, namely Balenciaga, Bottega Veneta, Gucci, Alexander McQueen, Yves Saint Laurent. Officially, this company has a primary office in forty rue de Sèvres, Paris, France with a total of employees reaching 38 thousand people.

Furthermore, in 2023, Kering’s total assets had become EUR 41.3 billion / USD 45.8 billion with total liabilities around EUR 25.3 billion / USD 28 billion. Based on the business performance in 2023, The Kering gained revenue around EUR 19.5 billion / USD 21.6 billion with net income around EUR 3 billion / USD 3.3 billion.

 

6. TJX

The TJX Companies, Inc. is an American multinational company with diversified fashion products. Historically, this company was founded in 1987 by Bernard Cammarata. Along with the development of the company, total employees of this company reached 270 thousand.

Financially, in 2023, TJX had total assets around 29.7 billion US Dollar with total liabilities of 22.4 billion US Dollar. Furthermore, the business performance is still in good condition with gained revenue around 54.2 billion US Dollar and net income 4.4 billion US Dollar.          

7. Inditex

 

Inditex is one of the biggest fashion companies in the world with 96 Stores and 216 areas of marketing products. Founded in 1963, this company has advanced to be a global player with a total employee of 162 thousand. Furthermore, this company has some outstanding fashion brands, namely Zara (Zara + Zara Home), Pull&Bear, Massimo Dutti, Bershka, Stradivarius, and Uterqüe.

In the year of 2023, Inditex has total assets about EUR 32.7 billion / USD 36.2 billion with total liabilities around EUR 14 billion / USD 15.5 billion. According to the Income statement of the company in 2023, Inditex gained revenue 35.9 billion / USD 39.8 billion with Net Income around EUR 5.3 billion / USD 5.8 billion.

8. Adidas

Adidas AG is one of the biggest sports apparels companies from Germany. Founded by Adolf Dassler in 1949, this company has become a global player in Sports Industries. Until 2021, this company 2,200 own retail stores with 114 independent maufacturing partners across the globe. Based on the production in 2021, Adidas produces 340 million pairs of Footwears, 482 million units of apparel, and 116 million accessories and gear.

In the Year of 2023, Adidas had total assets around EUR 18 billion / USD 19.9 billion and total liabilities around EUR 13 billion / USD 14.3 billion. Based on the business performance in 2023, Adidas gained revenue around EUR 21.4 billion / USD 23.7 billion but sufferef net losses of around (EUR -0.014 billion) / (USD -0.015 billion).

9. Fast Retailing

 

Fast Retailing is a Japanese Fashion company that was founded by Ogori Shoji in March 1949. In the beginning, the name of the company is Ogori Shoji Co., Ltd. and it changed to Fast Retailing Co., Ltd in 1991. Along with the company’s business development, Fast Retailing has multiple fashion brands including UNIQLO, GU, and Theory.

Financially, Fast Retailing also had good conditions in 2023. The total assets of Fast Retailing reached USD 22.5 billion with total liabilities around USD 9.7 billion. According to the Income Statement in 2023, Fast Retailing got revenue around USD 18.9 billion and net income of around USD 2.1 billion. 

10. H&M

Hennes & Mauritz or commonly known as H&M is a global fashion company that comes from Stockholm, Sweden. Historically, this company was founded in 1947. Along with business development, the company has employees of around 126 thousand people and has some brands, namely H&M and H&M HOME, COS, Weekday, and Monki.

Financially, in 2023, H&M has total assets around SEK 181 billion / USD 17.9 billion and total liabilities around SEK 133 billion / USD 13.1 billion. Based on the business performance in 2023, H&M gained revenue SEK 236 billion / USD 23.3 billion with Net income around SEK 8.7 billion / USD 0.86 billion.

11. El Corte Ingles Grup

 

El Corte Inglés S.A. is a global company from Spain that has headquartered in Madrid.  Historically, the founder of El Corte Inglés was Ramón Areces Rodriguez and Cesar Rodriguez Gonzalez. To date, El Corte has more than 78 thousand of employees. Based on the financial condition, in 2023, El Corte Inglés Group had total assets around EUR 14.2 billion / USD 15.7 billion with total liabilities around EUR 7.3 billion / USD 8.1 billion. Based on the business performance in 2023, El Corte got revenue EUR 14.4 billion / USD 15.9 billion with Net Income around EUR 0.50 billion / USD 0.55 billion.

12. VF Corporation

Vanity Fair Corporation or VF Corporation is a global fashion company from Denver, Colorado, United States of America. Founded in 1899 by John Barbey, this company has become a global company with around 50 thousand employees. Furthermore, VF Corporation managed some brands in the specialized segments, namely Outdoor (The North Face, Timberland, Smartwool, Altra, Icebreaker), Active (Vans, Supreme, Kipling, Napapijri, Eastpak, JanSport), and Work (Dickies, Timberland PRO).  

In the year of 2023, VF had total assets around USD 11.6 billion and total liabilities around USD 9.9 billion. Based on business performance in 2023, The VF gained revenue USD 10.4 billion but suffered net losses of around (USD -0.96 billion). 

13. PVH

 

PVH Corp. or the Phillips-Van Heusen Corporation is an American clothing company that owns brands such as Tommy Hilfiger, Calvin Klein, IZOD, Arrow. Founded in 1881, the company has advanced as a global company with approximately 29,000 associates operating in more than 40 countries. To date, PVH has main office in Manhattan, New York City, United States.

In the Year of 2023, PVH got total assets around USD 11.1 billion with total liabilities around USD 6 billion. Based on the business performance in 2023, the PVH got revenue around USD 8.7 billion with net income around USD 0.66 billion. 

14. Ross Stores

Ross Stores, Inc., is a fashion company that has headquarter in Dublin, California, USA. Historically, this company was founded in 1982 by Morris Ross and Bill Isackson. To date, Ros Stores managed two brands of off-price retail apparel and home fashion stores—Ross Dress for Less® (“Ross”) and dd’s DISCOUNTS.

Financially, in 2023, Ross Stores had total assets around USD 14.3 billion with total liabilities around USD 9.5 billion.  Based on the business performance in 2023, the Ross Stores got revenue around USD 20.3 billion and Net Income around USD 1.8 billion.

15. Hermes

Hermès began its business adventure in 1837 when the harness-maker Thierry Hermès opened a workshop in rue Basse-du-Rempart in Paris. As of 31 December 2023, Hermès had 306 stores worldwide and more than 20 thousand of employees.

Financially, In the Year of 2023, Hermes has total assets around EUR 20.4 billion / USD 22.6 billion with total liabilities around EUR 5.1 billion / USD 5.6 billion. Based on the business performance in 2023, the revenue of Hermes was EUR 13.4 billion / USD 14.8 billion and net income around EUR 4.3 billion / USD 4.7 billion.

16. Victoria’s Secret & Co

 

Victoria Secret is a fachion compny which focussed on specialty some products including signature bras, panties, lingerie, casual sleepwear, athleisure and swim, as well as award-winning prestige fragrances and body care. more than 30,000 associates across a global footprint of approximately 1,350 retail stores in approximately 70 countries. Historically, this company was found in 1977 by Roy and Gaye Raymond and still has headquartered in Reynoldsburg, Ohio, U.S.

Based on business structure, the brand of Victoria's Secret & Co including Victoria's Secret (fashion-inspired collections including signature bras, panties, lingerie, casual sleepwear, swim and athleisure) and Pink (bras, panties, loungewear, knit tops, activewear, accessories, beauty). Financially, in 2023, Victoria Secret & Co had total assets around USD 4.6 billion with total liabilities around USD 4.1 billion. Based on the business performance in 2023, Victoria Secret & Co gained revenue USD 6.1 billion with Net Income around USD 0.11 billion. 

17. Ralph Lauren

 

Founded in 1967 by Ralph Lauren, this company is a global leader in the design, marketing, and distribution of premium lifestyle products, including apparel, footwear, accessories, home furnishings, fragrances, and hospitality. Along with the business company, this company has 548 retail stores and 650 concession-based shop-within shops.

Financially, In the year of 2023, Ralph Lauren had total assets around USD 6.6 billion with total liabilities around USD 4.1 billion. Based on the business performance in 2023, Ralph Lauren got revenue around USD 6.6 billion with Net income around USD 0.64 billion. 

18. Prada

Founded in 1913, Prada Group’s adventures in business begin when Mario Prada opened an exclusive store in the Galleria Vittorio Emanuele II, Milan, selling handbags, travel trunks, beauty cases, tasteful accessories, jewelry, and other luxury items.  To date, Prada managed some of the world’s most prestigious brands including Prada, Miu Miu, Church’s, Car Shoe, Marchesi 1824 and Luna Rossa. Along woht business development, Prada has 26 factories and employs around 14,800 of people. 

Financially, in 2023, Prada has got total assets around EUR 7.6 billion / USD 8.4 billion with total liabilities around EUR 3.7 billion / USD 4.1 billion. Based on the business performance in 2023, The Prada gained revenue around EUR 4.7 billion / USD 5.2 billion and Net Income around EUR 0.67 billion / USD 0.7 billion.

19. PUMA

Puma is a Global Sport fashion company based in Herzogenaurach, Germany. Historically, this company was founded in 1924 by Rudolf Dassler. Along with business development, PUMA has more than 21,000 of employees. Furthermore, in 2023, Puma has total assets around EUR 6.6 billion / USD 7.3 billion with total liabilities around EUR 4 billion / USD 4.4 billion. Based on the business performance in 2023, Puma gained revenue around EUR 8.6 billion / USD 9.5 billion and Net Income around EUR 0.253 billion / USD 0.28 billion.

 

20. Under Armour

Under Armour, Inc. is an American sports fashion company that was founded by Kevin Plank in 1996. Commonly, Under Armour specialized in producing of apparel, footwear and accessories for men, women and youth As a global company, the employee of this company reaches sixteen thousand people.

Financially, in 2023, Under Armour is still in good condition and performance. The assets of Under Armour reached USD 4.7 billion   with Liabilities around USD 2.6 billion. Based on the business performance in 2023, the Under Armour’s revenue around USD 5.7 billion and Net Income around USD 0.23 billion.   

21. FILA

FILA Holdings is a South Korean sportswear manufacturer that designs shoes and apparel founded by Ettore and Giansevero Fila in 1911 in Biella, Piedmont, Italy. Until 2007, FILA Korea purchased global FILA Assets of FILA. To date, FILA has headquartered in Bomun-ro, Seongbuk-gu, Seoul.  

As a global player and with lifelong experience in the sports fashion business, in 2023, Fila had assets of KRW 4.9 trillion / USD 3.6 billion with Liabilities around KRW 2.4 trillion / USD 1.8 billion. Based on the business performance in 2022, the FILA got the revenue around KRW 4 trillion / USD 3 billion and Net Income around KRW 153 billion / USD 0.11 billion.

22. Li-Ning

 

Li-Ning Company Limited is a Chinese sportswear company founded by former Olympic gymnast Li Ning in 1990.  Along with business development, as a one of the largest sport apparel companies, Li-Ning has released some sports brands, namely Double Happiness (table tennis), AIGLE (outdoor sports), Danskin (fashionable fitness products for dance and yoga) and Kason (badminton).

Financially, in 2023, Li-Ning has assets around RMB 34.2 billion / USD 5.4 billion with liabilities around RMB 9.8 billion / USD 1.5 billion. Based on the business performance in 2023, Li-Ning got the revenue around RMB 27.5 billion / USD 4.4 billion with Net income around RMB 3 billion / USD 0.49 billion.

 

23. Hugo Boss

 

Hugo Boss AG is a German fashion company that has a central office in Meiningen, Baden-Württemberg. Historically, the company was founded in 1924 in Germany by Hugo Ferdinand Boss as general-purpose clothing. They managed the brands of BOSS and HUGO.  Financially, in 2023, Hugo Boss got the assets around EUR 3.4 billion / USD 3.7 billion with Liabilities around EUR 2.1 billion / USD 2.3 billion. Based on the business performance in 2022, Hugo Boss’s revenue reached EUR 4.1 billion / USD 4.5 billion and Net income was EUR 0.269 billion / USD 0.29 billion. 

 

The Summary of 20 World’s Biggest Fashion Companies Based on Assets  in 2023

The Summary of 20 World’s Biggest Fashion Companies Based on Net Income in 2023

 

Bibliography of 20 World’s Biggest Fashion Companies in 2023

Louis Vuitton. 2024. Annual report 2023. Accessed via  https://www.lvmh.com/investors   on March 30th, 2024.

Nike. 2024. Annual report 2023. Accessed via https://investors.nike.com/investors/news-events-and-reports/default.aspx  on March 30th, 2024.

Kering. 2024. Annual report 2023. Accessed via https://www.kering.com/en/finance/publications/   on March 30th, 2024.

Hermes. 2024. Annual report 2023. Accessed via https://finance.hermes.com/en/key-figures   on March 30th, 2024.

Inditex. 2024. Annual report 2023. Accessed via  https://annualreport2023.inditex.com/en   on March 30th, 2024.

Richemont. 2024.  Annual report 2023. Accessed via https://www.richemont.com/investors/results-reports-presentations/   on March 30th, 2024.

Victoria Secret. 2024. Annual report 2023. Accessed via https://www.victoriassecretandco.com/static-files/48070697-c350-4fb1-b792-896b36efc77f on March 30th, 2024.

Fast Retailing. 2024. Annual report 2023. Accessed via https://www.fastretailing.com/eng/ir/library/annual.html  on March 12th, 2024.

Adidas. 2024. Annual report 2023. Accessed via https://report.adidas-group.com/2020/en/  on August 12th, 2024.

VF. 2024. Annual report 2023. Accessed via https://www.vfc.com/investors/financial-information/annual-reports  on March 30th, 2024.

Li-Ning. 2024. Annual report 2023. Accessed via http://ir.lining.com/en/ir/reports.php  on March 30th, 2024.

FILA. 2024. Annual report 2023. Accessed via http://www.filaholdings.com/en/invest/ir.asp   on March 30th, 2024.

Exilor Luxotttica Group. 2024. Annual report 2023. Accessed via https://www.essilorluxottica.com/publications-and-downloads?year=2020&type=Reports  on March 30th, 2024.

Puma. 2024. Annual report 2023. Accessed via https://about.puma.com/en/investor-relations/financial-reports   on March 30th, 2024.

H&M. 2024. Annual report 2023. Accessed via https://hmgroup.com/about-us/corporate-governance/annual-report/  on December 12th, 2023.

TJX.2024 Annual report 2023. Accessed via https://www.tjx.com/investors/financial-information/annual-repor t  on March 30th, 2024.

Ross Stores. 2024. Annual report 2023. Accessed via https://investors.rossstores.com/financial-information/annual-reports    on March 30th, 2024.

Prada. 2024. Annual report 2023. Accessed via https://www.pradagroup.com/en/investors/investor-relations/results-presentations.html  on March 30th, 2024.

Ralph Lauren. 2024.  Annual report 2023. Accessed via  https://investor.ralphlauren.com/financial-information/sec-filings   on March 30th, 2024.

Hugo Boss. 2024.  Annual report 2023. Accessed via https://group.hugoboss.com/en/investors/publications/results   on March 30th, 2024.

Under Armour. 2024.  Annual report 2023. Accessed via https://about.underarmour.com/investor-relations/financials/annual-reports  on March 30th, 2024.

PVH. 2024. Annual report 2023. Accessed via https://www.pvh.com/investor-relations/sec-filings  on March 30th, 2024