Running a fashion business may not be easy. However, you can learn from the largest fashion company in the world. The latest fashion industry statistics show that this sector is going to generate USD 1.79 trillion in 2024 worldwide revenues with a 2.9% annual increase.
All businesses in this fashion industry should know the best strategies so that they can get closer to success. To do this, fashion businesses can learn from the best. Some biggest fashion companies have been listed so that you can learn from them.
Learn from The Largest Fashion Company In The World
According to the latest ranking of the largest clothing companies depending on the market capitalization, LVMH is at the top of the list. This is a French luxury fashion company that has a market cap of up to USD 385.3 billion. What can you learn from it and other fashion companies?
1. Chanel
Gabrielle Chanel was the couturier who founded Chanel in 1910 in Paris, France. Now, it also become the largest apparel company owned by Gerard and Alain Wertheimer, Pierre Wertheimer’s grandsons. Pierre was the business partner of Gabrielle Chanel.
Chanel is selling luxurious fragrances, high-fashion clothes, watches, handbags, and skincare and beauty products. It has become famous for the Chanel Suit, Chanel No. 5 Perfume, and little black dress. Also, the company has been active in the startup collaborations field.
In 2018, the company invested in Farfetch which is an online fashion retail unicorn. This largest fashion corporation was also partnered with Sulapac, a Finnish startup that is also the producer of bio-packaging and bio-plastics to develop a sustainable cap for the fragrance.
2. Louis Vuitton
This fashion brand is owned by the LVMH Group. It was founded by a French fashion designer known as Louis Vuitton in 1854 in Paris, France. The brand is now selling leather goods, trunks, handbags, watches, shoes, fragrances, jewelry, beauty and skincare products, and accessories.
The LV monogram is what makes people recognize the brand. In 2019, the largest fashion company in the world partnered with Riot Games which is the League of Legends’ creators.
Louis Vuitton’s LVMH Innovation Award is now open to some startup companies. It was established about five years ago and valued less than USD100 million. Now, it has less than 59 employees and has solutions that are relevant to LVMH.
3. House of Gucci
The third-largest fashion brand is Gucci. It is an Italian fashion brand that’s now owned by the French Kering Group. Gucci was founded by Guccio Gucci in 1921 in Milan, Italy. Among many Italian fashion brands, Gucci is the oldest one.
The company was started as a luggage maker which produced luxury travel goods and equestrian equipment.
But today, Gucci is selling high-end leather goods, luxurious fashion apparel, premium knitwear, watches, eyewear, jewelry, shoes, silk goods, beauty and skincare products, and handbags.
People know this largest fashion company in the world for the distinctive double G monogram and the iconic Gucci stripe that consists of two green stripes with a single red bar.
4. Christian Dior
Christian Dior was the one who founded the Dior brand. The brand itself was founded in 1946 in Paris, France. Now, this brand is selling luxurious accessories and fashion apparel including haute couture clothes, high-end leather goods, perfumes, jewelry, skincare, and shoes.
Just like Louis Vuitton and House of Gucci, Christian Dior is owned by the LVMH Moet Hennessy Louis Vuitton or LVMH.
5. Prada
This largest clothing company was founded by Mario Prada in 1913 in Milan, Italy. The brand is one of the leading brands for luxury high fashion products. It offers clothes, luggage, apparel, and luxury goods. Those products were manufactured with the best artisanal techniques.
The Prada brand is now known as an elegant shopping destination for many prestigious European and Italian customers. Prada’s innovative approach is inspired by the observation of society. It allows Prada to anticipate and influence style and fashion trends.
The brand is offering women’s and men’s leather goods, footwear, and clothing, all combining sophisticated, innovative, and contemporary designs.
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If you want to be like the largest fashion company in the world, there are some strategies to learn. For example, it is crucial to build partnerships with other businesses. Or, you may want to create innovative products for your target markets.
But the key is always marketing. Use one of SMS Broadcaster’s tools to promote your products to potential customers. Let them know what kind of business you own and what quality products you are selling.