Many investors believe they need to chase the latest technology trends to find big winners in the stock market, but that's not true at all. Lululemon Athletica (LULU -3.31%) and Deckers Outdoor (DECK -4.12%) are leading apparel brands that delivered market-crushing returns over the last decade. If you had invested a total of $1,000 10 years ago -- with $500 into each stock -- you would now have $6,415.  

It's not too late to buy these two apparel stocks. Their brands are still posting impressive numbers to deliver more great returns.

1. Lululemon Athletica

Lululemon is the next global athletic-wear brand in the making. It started with its first official store in Vancouver, British Columbia, in 2000 and has been expanding ever since. The brand has taken off with its blend of proprietary technical fabrics with everyday clothing styles, and it still has a world of opportunity ahead.

North American revenue made up most of the business in the most recent quarter, leaving only 17% of its total sales coming from outside of North America, most notably in Europe and China. 

Despite economic challenges in China, Lululemon reported nearly 70% year-over-year revenue growth from this key market last quarter, with men's sales up 28%, women's up 23%, and accessories up 52%. The company has been investing in international markets for several years, but it still has a long way to go, which is good news for investors.

While international revenue grew at a compound annual rate of 42% over the last three years, what's most exciting is that Lululemon's home turf continues to provide ample growth opportunities. U.S. revenue increased by 29% year over year last quarter, with Canada revenue up 11%. 

A key to Lululemon's growth has been its ability to drive online sales, which made up 41% of the business last quarter. And management continues to identify new opportunities to stretch its addressable market, including footwear.  

The company has a long record of consistent growth, with the brand on a clear path to further global expansion. The stock trades 39% off its all-time high, so there's not going to be a better opportunity to buy shares. 

The stock's forward price-to-earnings (P/E) ratio of 25 is not cheap, but it's a reasonable premium to pay for a fast-growing apparel business. The average stock in the S&P 500 index, which doesn't have the growth prospects of Lululemon, trades at 21 times earnings. If this stock were any cheaper, it would be a steal.

2. Deckers Outdoor

Deckers has delivered consistent growth for more than a decade. The Ugg brand is the company's largest driver of sales, but in recent years, Decker has started to develop Hoka into a hot brand in performance footwear. 

Hoka revenue grew a robust 91% year over year in the most recent quarter, which is impressive given the weak retail environment over the holidays. This is no fluke -- Hoka has been consistently delivering robust growth going back to before the pandemic. In fact, it has accelerated, which means the brand could have a long runway ahead. Google Trends shows steadily growing search queries for Hoka over the last five years, indicating consumers are increasingly seeking out the brand. Sales through direct-to-consumer channels more than doubled last quarter.  

Hoka is winning over consumers because of its special cushioning that emphasizes comfort and support. The high rate of growth in recent years suggests it has the makings of a multibillion-dollar brand. Hoka represented 26% of overall revenue in the last quarter, but it will likely remain the key growth driver for Deckers. The brand just crossed $1 billion in annual revenue earlier last year,  but that pales in comparison with larger footwear brands like Nike and Adidas, which sell billions of dollars worth of footwear every year.   

The best aspect of Deckers is its consistent operating history. Revenue has more than doubled over the last 10 years, with earnings growing much faster, indicating that management has its focus on delivering profitable growth for shareholders.

Even with higher inventory and supply disruptions over the last year, Deckers still reported a 16% year-over-year increase in earnings per share through the first three quarters of the year. 

The stock trades close to all-time highs but remains an attractive buy, at a forward P/E of just 22 times this year's earnings estimate.