Textiles are created by weaving, knitting, crocheting, braiding, tatting, or otherwise interlacing fibers to create a flexible material made up of a network of fibers, whether they’re natural or artificially produced. While we usually automatically think of clothing when we think of textiles, they can encompass a broader range of products as well.
We were curious to see which global textile industries had claimed the top spots after the unpredictable turmoil of the coronavirus pandemic that caused stores to close their doors and eCommerce to boom. Here’s our look at the top ten largest textile companies globally based on their market value as of January 2021.
TJX Companies. Framingham, MA, USA
2022 Annual Revenue: $48.55 billion
TJX is one of the top textile companies in the United States. The company comprises seven retail chains and four eCommerce sites, and it retails apparel and home fashions worldwide. TJX operates over 4,500 stores across nine countries on three continents.
Businesses falling under TJX Companies include T.J. Maxx, Marshalls, Homegoods, Sierra, Homesense, and T.K. Maxx. The company was founded in 1977 when the first T.J. Maxx opened its doors.
TJX Companies, Inc. was ranked 80 in the Fortune 500 company listings for 2020 and continues to be a global leader in the apparel and home fashion retail industry.
Toray Industries. Chuo City, Tokyo, Japan
2022 Annual Revenue: $19.83 billion
Toray Industries started by producing fibers and textiles in addition to plastics and chemicals. Since its founding, the company has diversified into other industries as well, including pharmaceuticals, biotechnology, medical products, water treatment membranes, electronics, IT products, and more.
Toray’s operations are organized into the following segments: fibers and textiles, carbon fiber composite materials, functional chemicals, life science, environment and engineering, and “others,” giving it an extremely diverse portfolio across various industries.
The company was established in 1926 and now operates in twenty-nine countries as of March 2020. Toray is one of the world’s largest carbon fiber producers and remains one of Japan’s largest producers of synthetic fiber.
V.F. Corporation. Denver, CO, USA
2022 Annual Revenue: $11.84 billion
Although V.F. Corporation saw a loss in market value during the pandemic, it’s still a serious contender in the textile industry. V.F. prides itself on having a diverse portfolio of iconic outdoor and activity-based lifestyle and workwear brands.
Formerly known as Vanity Fair Mills, V.F. Corporation was founded in 1899, giving it a long and rich history of over 120+ years.
V.F. has manufactured textiles in many different capacities, from silk lingerie in the early 1900s to becoming one of the largest jean makers in the world in the 1980s. V.F. has acquired familiar brands such as Wrangler, The North Face, Eagle Creek, and many others over the years.
However, in 2018, V.F. announced that it would be splitting into two separate companies. V.F. would maintain the sports apparel and footwear businesses while Kontoor Brands would control the jeans and outlet stores. Today, V.F. has more than 30 brands organized into outdoor, active, and work categories.
Zalando SE. Berlin, Germany
2022 Annual Revenue: $11.20 billion
Zalando SE is a multinational eCommerce company that offers clothing, sports products, bags, footwear, and other accessories in seventeen countries. It’s considered one of Europe’s top textile companies.
Zalando was founded in 2008 under the name Ifansho until the name changed. Originally, the company focused on footwear before adding apparel to its portfolio and branching off from there.
Today, the company operates in seventeen countries and is focused on building infrastructure to sustain a growing digital market for fashion.
PVH Corporation. New York, NY, USA
2022 Annual Revenue: $9.155 billion
Formerly known as the Phillips-Van Heusen Corporation, PVH operates in over forty countries and focuses on producing high-quality fashion and lifestyle products. The company owns well-known brands including Van Heusen, Tommy Hilfiger, Calvin Klein, Geoffrey Beene, and others.
PVH started in 1881 with the primary function of mending and selling shirts for Pennsylvania coal miners. The company evolved throughout its impressive history spanning 140 years, and today, despite a downtick in market revenue last year, it’s a global powerhouse in the fashion industry.
PVH has nine brands and operates more than six thousand retail locations in over forty countries. It also manages more than two thousand factories.
Lululemon Athletica. Vancouver, Canada
2022 Annual Revenue: $6.26 billion
Lululemon Athletica is a Canadian textile company specializing in yoga and activewear and general sports apparel and accessories. It was founded in 1998 as a design studio by day and a yoga studio by night until it became a standalone store in 2000. The very first designs were made for women to wear for yoga.
Lululemon currently focuses on yoga, running, cycling, training, and “most other sweaty pursuits” for women and men. It has also branched out to produce hair accessories, bags, yoga mats, water bottles, et cetera. The company also trademarked its original fabric, Luon, in 2005.
Over the past two decades, Lululemon has made multiple appearances on Fortune’s fastest-growing companies list. In 2019, Lululemon announced an ambitious goal to double its men’s business over the next five years and directly compete with athleticwear giants like Nike.
Ralph Lauren Corporation. New York, NY, USA
2022 Annual Revenue: $6.22 billion
Ralph Lauren Corporation is a global leader in apparel, accessories, home, and fragrances. The company is known for producing high-end luxury products with brand names like Polo that are widely recognized worldwide.
The company started its early beginnings in 1967 when twenty-eight-year-old Ralph Lauren launched a new necktie line under the label Polo. He started his business by selling his designs out of a drawer in the Empire State Building. Throughout the decades, Ralph Lauren remained true to his original vision as he expanded into other niches, including women’s clothing and houseware.
Ralph Lauren became an American cultural icon, and even though he stepped down from his CEO position in 2015, his brand continues to be a fierce contender on the global stage.
Under Armour. Baltimore, MD, USA
2022 Annual Revenue: $5.80 billion
Under Armour is a well-known brand in the US activewear industry. The company produces footwear, sportswear, sports equipment, and toiletries.
Under Armour was founded in 1996 by Kevin Plank, the former special teams captain for the University of Maryland football team. Plank’s goal was to create a new synthetic fabric that would wick moisture away instead of soaking it into standard T-shirts worn under jerseys. The brand started in his grandmother’s basem*nt.
Under Armour hit its first big break in 1999 when Warner Brothers contacted the company to outfit two of its feature films — Any Given Sunday and The Replacements. Under Armour continued to grow from there as it struck contracts with major sports teams, companies, and athletes over the next couple of decades.
Prada. Milan, Italy
2022 Annual Revenue: $4.4 billion
Prada is a well-known, high-end brand name. The company produces luxury products such as leather handbags, perfumes, shoes, cosmetics, eyewear, watches, and other fashion products.
It was founded in 1913 by Mario Prada. Six years later, Prada received the prestigious distinction of being awarded the title of Official Supplier of the Italian Royal House, which allowed the company to display the House of Savoy coat of arms in its trademark logo.
Since then, Prada has established itself as one of the most iconic fashion brands in history, and it remains one of the world’s largest textile companies today.
Shenzhou International Group Holdings. Ningbo, Zhejiang, China
2022 Annual Revenue: $3.30 billion
Shenzhou International Group Holdings is a clothing manufacturer based in China. The company claims that it is the “largest vertically integrated knitwear manufacturer in China.”
It manages the production, dyeing, finishing, printing, embroidering, cutting, and sewing of knitwear and other fabric-related materials in addition to providing packing and logistic services.
Shenzhou International Group Holdings was founded in 2005 in Hong Kong. The company’s product categories are primarily sportswear, casual clothing, and lingerie. Its main products include jackets, vests, trousers, pants, T-shirts, tops, dresses, and lingerie.
What is the biggest textile company in the world?
The biggest textile company in the world is TJX Companies. With a revenue of $48.55 billion, TJX is the largest textile company in the world. The second largest textile company in the world is Toray Industries, with a revenue of $19.3 billion.
How big is the global textile industry?
The global textile industry has a market size of $993.6 billion. The global textile industry plays a sizeable role in the world economy. With a CAGR of 4.0% through 2030, you can be sure that the global textile industry will continue to make an impact.