New Brand Finance study finds durability, down quality and craftsmanship are the strongest drivers of consumer consideration
BEIJING, 16 October 2026 – Bosideng is China’s most valuable and strongest down-jacket brand, according to the inaugural Brand Finance China Down Jacket Market Brand Value 15 2026 report by Brand Finance, the world’s leading brand valuation consultancy. The brand is valued at USD2.3 billion and holds 43% of the ranking’s combined USD5.4 billion brand value.
The study combines brand valuation with consumer research to examine how down-jacket brands convert awareness and product capability into consideration, preference and long-term economic value. The market is highly concentrated, with Bosideng, The North Face, Moncler, Canada Goose and Yaya accounting for 75% of the ranking’s combined USD5.4 billion brand value, while the top 10 represent 91%. Chinese brands collectively account for 66% of total value, reflecting the scale achieved by domestic specialists and broader sports and apparel brands. However, brand strength and consumer preference vary significantly across the ranking, showing that scale and category expertise alone do not guarantee sustained competitiveness or the ability to command a premium.
Bosideng leads the ranking by a substantial margin. Its USD2.3 billion brand value is more than four times that of The North Face, which ranks second at USD521 million. Moncler follows in third at USD486 million, while Canada Goose ranks fourth at USD372 million and Yaya fifth at USD367 million.
Other brands in the top 10 are Arc’teryx in sixth at USD189 million, Descente in seventh at USD181 million, ANTA in eighth at USD173 million, Yalu in ninth at USD150 million and Snow Flying in 10th at USD148 million.
Bosideng also ranks as the market’s strongest brand, achieving a Brand Strength Index (BSI) score of 87/100 and an AAA brand strength rating. The North Face ranks second for brand strength with a BSI score of 68.9/100 and an AA- brand strength rating, followed by LI-NING with BSI score of 63.8/100, Canada Goose with BSI score of 63.6/100 and ANTA with BSI score of 61.1/100, with each of these three brands receiving an A+ brand strength rating.
Scott Chen, Managing Director, Brand Finance China, commented:
“China’s down-jacket market is no longer defined by warmth alone. As the category matures, the competitive battleground is shifting from product capability to the ability to turn that capability into a distinctive brand proposition that consumers recognise, trust and are willing to pay for. Bosideng demonstrates the power of this approach, combining specialist expertise with strong perceptions of quality and value to build both consumer preference and economic value. The next phase of competition will be about creating stronger reasons to choose. Domestic specialists must turn scale and expertise into meaningful differentiation, international premium brands need to make their price positioning tangible, and outdoor, sports and apparel brands must earn greater credibility in the category. Product performance remains the foundation, but service, innovation and digital experience increasingly shape how that performance is perceived and, ultimately, how brands convert relevance into long-term value.”
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
