"In its ‘Global Fashion Index,’ McKinsey ranked the top fashion companies across the world by economic profit during the first nine months of 2018. According to the report, the global fashion market is dominated by 20 companies which account for 97 per cent of global economic profit in the retail sector. These companies own some of the biggest and best-known brands in the business. Of these 20, the top 10 are. Having some of the best-known high end brands, Kering registered a profit of $943 million in the first nine months of 2018. The luxury conglomerate owns brands like Gucci, Alexander McQueen, and Balenciaga, etc. Gucci was ranked the second-hottest brand on a recent survey by Lyst and the 10th most popular apparel brand in a survey of teen spending in April."

In its ‘Global Fashion Index,’ McKinsey ranked the top fashion companies across the world by economic profit during the first nine months of 2018. According to the report, the global fashion market is dominated by 20 companies which account for 97 per cent of global economic profit in the retail sector. These companies own some of the biggest and best-known brands in the business. Of these 20, the top 10 are:

Kering

Having some of the best-known high end brands, Kering registered a profit of $943 million in the first nine months of 2018. The luxury conglomerate owns brands like Gucci, Alexander McQueen, and Balenciaga, etc. Gucci was ranked the second-hottest brand on a recent survey by Lyst and the 10th most popular apparel brand in a survey of teen spending in April.

Adidas

With a profit of $1.06 billion, German athletics brand Adidas, in recent years, has been doubling its operations in the US market capturing around 30 to 40 per cent market share.

Ross Stores

Hailed as a retail treasure by analyst, off-price retailer Ross Stores, with a profit of $1.06 billion , offers a wide selection of well-known brands at discounted prices and providing customers with a treasure-hunt shopping experience that's hard to replicate online.

Richemont

The parent company of jewelry and watches brands such as Vacheron Constantin, Cartier, and IWC Schaffhausen, Richemont also owns Net-a-Porter, the online fashion store selling a wide mix of designer brands. It has registered a profit of $1.07 billion

H&M Group

Best known for its cheap namesake brand, H&M also runs more expensive stores such as & Other Stories and Cos. The group, with a profit of $1.28 billion, is considered as one of the pioneers of the fast-fashion movement and leading apparel companies in the world.

hHermès

Best known for its silk scarves and hand-stitched $10,000 Birkin handbags, luxury French brand Hermès reported a 14 per cent increase in revenues in China despite concerns of a potential slowdown in customer spending. Its profit stood at $1.35 billion

TJX Companies

The parent company of several off-price chains in the US, including TJ Maxx and Marshalls, TJX Companies, with a profit of $1.97 billion, is leading the American off-price market. The company has reported strong same-store sales numbers for several years.

LVMH

Headquartered in Paris, LVMH is a luxury goods conglomerate that owns a wide range of designer brands including Louis Vuitton, Loewe, Céline, and Givenchy. The company, in the first nine months of 2018, reported a 10 per cent increase in its revenues. It generated a profit of $2.33 billion during the period.

Nike

A dominant name in the US athletic footwear market, Nike is also considered to be one of the most powerful brands in the world. In recent years, the brand has come under pressure in the US and lost sales to German rival Adidas, which has been offering new and differentiated products and reacting quickly to market demand. Its profit for the first nine months of 2018 stood at $3 billion

Inditex

The retail powerhouse behind brands such as Zara, Massimo Dutti, and Pull & Bear, Spanish-headquartered Inditex has grown to become an enormous, 2,000-store chain, with a presence in 96 countries around the world.