Forbes has released its annual list of the 100 Most Innovative Companies in the world and making the list: Hermès, e-commerce site Amazon.com (no. 6), ubiquitous coffee company Starbucks (no. 33, followed by Whole Foods at 34), Netflix (no. 30) and fast fashion giants H&M (no. 74) and Zara's parent company Inditex (no. 82). Number 1 on the list: Software and programming site, salesforce.com. Hermès, the 177-year old Paris-based design house, was ranked highest of all fashion companies that made the list, coming in at number 13. The list follows the announcement that Hermès's womenswear director, Christophe Lemaire, will be leaving the company to focus on his eponymous label.
Forbes bases its list on the following methodology: "Companies are ranked by their innovation premium: the difference between their market capitalization and a net present value of cash flows from existing businesses (based on a proprietary formula from Credit Suisse HOLT) … To be included, firms need seven years of public financial data and $10 billion in market cap. We include only industries that are known to invest in innovation."
Other fashion companies that made the list:
Li & Fung, a Hong Kong-based global sourcing firm, which counts garments and accessories as a source of around two-thirds its business, came in at number 41. Two of its key clients are Wal-Mart Stores Inc. and Kohl’s Corp.
Luxottica, which owns Ray-Ban, Persol and Oakley, and is the holder of the exclusive eyewear licenses for Prada, Tom Ford, Chanel, Burberry, and Stella McCartney, among others, was ranked at number 51. The Italian eyewear company, has come under scrutiny in recent years for its seeming monopoly over the eyewear market.
Estée Lauder Companies took the number 54 stop. Launched in 1946, the brand manufactures and markets a range of its own skincare, makeup, fragrance and hair care products, as well as those for Tom Ford, Marni, Bobbi Brown, La Mer, and Coach, among others.