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The top 10 clothing companies in America
(Getty Images / Don Arnold)
The apparel industry rakes in a massive amount of revenue each year.
But as shopping malls struggle with a decline in foot traffic, many retailers have had to get creative to keep sales growing.
Some companies, like Nike and Ralph Lauren, are dominating the industry, while others, like Gap, are closing stores and laying off employees.
The website Fashionista recently compiled a list of the top brands in the US ranked by sales.
Check out what Americans love to wear:
10. Under Armour
(Under Armour Facebook)
Annual revenue: $3.1 billion
The sports retailer made more than $3 billion in revenue last year. It may be far from eclipsing Nike's global empire, but it continues to grow and sign major deals with impressive athletes, like Stephen Curry and Jordan Spieth.
9. American Eagle
(Flickr/Mike Mozart)
Annual revenue: $3.3 billion
American Eagle implemented new techniques to help its business after comparable sales decreased by 5% in fiscal 2014. It launched a one-size-fits-all brand called Don't Ask Why to connect with more of a teen audience.
8. Tommy Hilfiger
(Flickr/Jimmy Baikovicius)
Annual revenue: $3.6 billion
This iconic American brand recently celebrated its 30th anniversary, and it definitely hasn't lost its luster. The company reported a fourth consecutive earnings beat in the most recent fiscal quarter. Revenues increased 3%, and earnings per share grew 20%, according to an earnings call.
7. Coach
(REUTERS/Fred Prouser)
Annual revenue: $4.3 billion
This luxury fashion house recently reported disappointing sales, and some believe that its decline lies in its decision to open too many outlet stores. Millennials are less inclined to spend more money on luxury apparel, which is hurting brands like Coach.
6. Michael Kors
(Meredith Galante/Business Insider)
Annual revenue: $4.4 billion
Michael Kors, like Coach, is affected by millennials' gravitation away from luxury brands. Michael Kors' decline is affecting large department stores like Macy's; many believe the brand's time has passed because it got too popular, and it's name no longer holds the same value.
5. Levi Strauss & Co.
(Flickr/Mike Mozart)
Annual revenue: $4.8 billion
Levi's jeans have seen a resurgence in recent years. More customers are embracing basics and drifting back to classic styles from one of the most famous jean retailers in the world.
4. Gap
(Flickr/SimonQ錫濛譙)
Annual revenue: $6.2 billion
Although Gap's revenue lends the company a high ranking on this list, the brand is in major trouble. It's closing many stores and firing a large number of employees; sales have even declined for 13 straight months. Some credit the company's decline to its struggle to capitalize on its key products, while others believe its' Instagram and other social media presences are to blame.
3. Old Navy
(Reuters)
Annual revenue: $6.6 billion
Old Navy is currently doing better than its parent brand, the Gap. It has lower prices and tends to stay on brand, targeting the right consumers with affordable styles.
2. Ralph Lauren
(Flickr/█ Slices of Light █▀ ▀ ▀)
Annual revenue: $7.6 billion
Ralph Lauren is a staple in American apparel. It's one of the leading brands in this industry year after year because it stays true to its core aesthetic and sticks with what works.
1. Nike
(Flickr/bricoleurbanism)
Annual revenue: $30.6 billion
Nike is the most successful and recognizable sports brand in the world. It recently closed a deal rumored to be worth roughly $1 billion to become the official uniform and apparel provider for the NBA.
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