While retail spending in the United States took the steepest nosedive in March, industry biggies tend to be poised to thrive on the 18th annual Forbes Global 2000 list — which uses market value, revenue, revenues and assets to assess the world’s largest public corporations.
LVMH Moët Hennessy Louis Vuitton, with brands such as Louis Vuitton, Christian Dior and Givenchy, is atop one of the world’s biggest fashion firms. LVMH, run by French billionaire Bernard Arnault, has a market value of $194 billion and assets in excess of $108 billion making it the world’s 73rd largest public company.
Sportswear giant Nike finished in a distant second among apparel companies, climbing 35 spots to become the 244th largest public company in the world. Fellow footwear maker Adidas also made strides, cracking the top 400 with more than $25 billion in sales.
Canada-based Lululemon, which came in 1209th overall, maintained last year’s momentum, clocking nearly $4 billion in sales, up from $3.2 billion last year. Thanks to the athleisure brand’s e-commerce surge and strong balance sheet, some analysts predict that the company may actually end up in better shape than it was prior to the pandemic
Yet the bad news may outweigh the good for others in this list. For instance, ranked 1490, Nordstrom recently announced the permanent closure of 16 stores, strikingly fearing that the department store could go the way of Neiman Marcus, Bergdorf Goodman and Barneys.