20 companies dominate the world's fashion industry. Here's who makes the list.

The global fashion market is dominated by 20 companies, according to new research from management consultancy firm McKinsey & Company.

In its "Global Fashion Index," released last week, McKinsey ranked the top fashion companies across the world by economic profit, which it defines as "a measure for value-add created by businesses, whereby opportunity costs are deducted from revenues earned."

Dubbed the "super winners," these companies currently account for 97% of global economic profit in the retail sector and own some of the biggest and best-known brands in the business, including Nike, H&M, and Zara.

"The lesson from 2017 is that size continues to matter," the report said. "There is a demonstrable advantage to scale. The one caveat is that if you can't be big, be nimble."

Noticeably absent from this list are online players and US department stores — the latter dominated the list 10 years ago, according to the report. The companies are ranked by economic profit, which is net operating profit, less adjusted taxes minus capital charge.

Find out which companies made the top 10 list below:

10. Kering — Gucci, Alexander McQueen, Balenciaga

Gucci bags at a store in Manhattan's Brookfield Place. BusinessInsider

Economic profit: $943 million

Luxury conglomerate Kering has some of the best-known high-end labels in its empire. They include Gucci, Alexander McQueen, and Balenciaga, among others.

Gucci has exploded in popularity in recent months, especially among millennial and teen shoppers. It was ranked the second-hottest brand on a recent survey by Lyst and was ranked as the 10th most popular apparel brand in a survey of teen spending in April. Sales grew 46.6% in the first quarter of 2018 at Gucci and were up 35.1% in its most recent quarter, according to Kering.

9. Adidas

9. Adidas BusinessInsider

Economic profit: $1.06 billion

German athletics brand Adidas continues to be one of the leading global fashion companies.

In recent years, it has been doubling down on the US market and has seen positive results because of this, capturing more market share and reporting 30-40% gains.

8. Ross Stores

8. Ross Stores BusinessInsider

Economic profit: $1.06 billion

Ross Stores retail treasure

7. Richemont — Cartier, Chloé, Net-a-Porter

7. Richemont — Cartier, Chloé, Net-a-Porter BusinessInsider

Economic profit: $1.07 billion

Richemont is the parent company of a host of jewelry and watches brands such as

6. H&M Group

6. H&M Group BusinessInsider

Economic profit: $1.28 billion

H&M is best known for its cheap namesake brand but also runs more expensive stores such as & Other Stories and Cos.

H&M was considered one of the pioneers of the fast-fashion movement and continues to be one of the leading apparel companies in the world. However, in recent years, it has come under pressure as more nimble online brands have sped up supply-chain times.

5. Hermès

5. Hermès BusinessInsider

Economic profit: $1.35 billion

Luxury French brand Hermès is best known for its silk scarves and hand-stitched $10,000 Birkin handbags.

In its most recent quarterly results, it reported strong

4. TJX Companies — TJ Maxx, Marshalls

4. TJX Companies — TJ Maxx, Marshalls BusinessInsider

Economic profit: $1.97 billion

TJX Companies, the parent company of several off-price chains in the US, including TJ Maxx and Marshalls, is leading the American off-price market.

TJ Maxx offers discounts of between 20-60% on well-known brands and has reported strong same-store sales numbers for several years.

3. LVMH — Louis Vuitton, Givenchy, Dior, Marc Jacobs

3. LVMH — Louis Vuitton, Givenchy, Dior, Marc Jacobs BusinessInsider

Economic profit: $2.33 billion

Headquartered in Paris, LVMH is a luxury goods conglomerate that owns a wide range of designer brands including

2. Nike

2. Nike BusinessInsider

Economic profit: $3 billion

Nike does not only dominate the US athletic footwear market but is also considered to be one of the most powerful brands in the world.

In recent years, it has come under pressure in the US and lost sales to German rival Adidas, which has been offering new and differentiated products and reacting quickly to market demand.

1. Inditex — Zara, Massimo Dutti, Pull & Bear