Global Sports Clothing & Accessories Industry
The world sports apparel industry is expected to exceed $126 billion by 2015, according to Global Industry Analysts. The market is driven by a trend toward healthier, more active lifestyles, with older demographics and women becoming more active.
The global sports and fitness clothing industry is highly fragmented, with many brands competing, from basic discount brands to high-end fashion names. Even well-established brands have to work hard to maintain their share of the market. Consumers are demanding more versatile wear with wider functionality, which means retailers continue producing new styles of sports apparel for men and women.
Some sports apparel companies are joining up with fashion designers to produce new clothing styles and widen their product lines. Consumption will continue to be driven by a trend toward less formal dress in the workplace and demand from specific demographics such as teenagers and baby boomers.
Challenges faced by sports apparel companies include constantly changing fashion trends, tough competition and more price-conscious shoppers. Business activity in the sector can be fragmented with companies setting up factories in different countries, which has the advantage of protecting companies from a problem in any one country, but also poses difficulties in terms of logistics.