value rose by 43% year on year to reach 97th place in Kantar's Most Valuable Brands report, with a brand value of $21.6m (£16.2m). It is ranked third in the apparel category.

Kantar's metrics include combining corporate financial data with consumer perception.

The report says that Uniqlo has a significant brand equity advantage, with "stronger than expected" consumer perceptions in relation to the brand’s size.

Kantar says the retailer is particularly strong in its home market of Japan and has also gained traction in China and European markets such as Spain.

Zara has grown its brand value by 37% this year to reach 65th place in the ranking.

The Inditex flagship is one of only 39 brands that have remained in the list since it began in 2006 with Kantar noting its "evolution".

Adidas has grown its brand value by 811% since 2006, and is now valued at $21.1m (£15.8m).

Other brands that have grown their value during the year are H&M (3%) and Chinese sports company Anta (11%). Indian brand house Westside is new to the list this year.

Nike and Lululemon remained in the top 10 for brand value but fell by 31% and 12% respectively.

Helen Rowe, brand guidance consultant in Kantar's UK, insights division said: "One of the big stories of the past 20 years has been the 'shrinking middle' of the brand landscape. But now there's potentially an additional dynamic at play, thanks to the rise of buying and selling on resale platforms.

"Some of the lower-cost value brands could feel more pressure - because when people do choose to buy new, they're doing so with an eye toward potentially selling those clothes again down the line. So it might be better, from a resale point of view, to build a wardrobe around more mid-priced apparel brands. It's a whole new factor in consumers' value calculations."