Table of Contents
Sportswear Market Overview
The sportswear brands industry, encompassing athletic apparel, footwear, and accessories, has experienced significant growth due to an increased focus on health and fitness.
Key materials such as polyester, nylon, spandex, merino wool, and Gore-Tex are essential for enhancing performance and comfort.
Current market trends include rising demand for sustainable products, technological integration in fabrics, the popularity of athleisure, and customization options.
This dynamic sector continues to evolve as brands adapt to consumer preferences, creating opportunities for innovation and market expansion.
Market Drivers
The global sportswear market is driven by several key factors. Including a rise in health and fitness awareness, which has increased the demand for high-performance apparel.
The athleisure trend combines athletic and casual wear, appealing to consumers who prioritize comfort and style.
Innovations in fabric technology, the growth of e-commerce, and celebrity endorsements enhance brand visibility and attract interest.
Moreover, a rising consumer preference for sustainability prompts brands to implement eco-friendly practices. Together, these elements foster significant growth in the sportswear market.
Market Size
The Sportswear Market is projected to reach USD 855.3 billion by 2033. Up from USD 335.8 billion in 2023, with a CAGR of 9.8%.
List of Major Companies
These are the top 10 brands operating in the Sportswear Market:
Adidas
Company Overview
| Establishment Year | 1924 |
| Headquarter | Herzogenaurach, Bavaria, Germany |
| Key Management | Bjørn Gulden (CEO) |
| Revenue (US$ Bn) | $ 23.2 Billion (2022) |
| Headcount | ~ 58,564 (2022) |
| Website | https://www.adidas.com/ |
About Adidas
Adidas AG is a prominent player in the global sportswear market. Reported a 10% increase in currency-neutral revenues in Q3 2024, largely due to a 14% rise in its core brand.
Fueled by the success of retro models like Samba and Gazelle and new releases such as the Adizero Adios Pro Evo 1 running shoe.
The company also reached an out-of-court settlement with Ye (formerly Kanye West). Allowing for the sale of the remaining Yeezy inventory, expected to conclude by the end of 2024.
Adidas appointed Mathieu Sidokpohou as the new Executive Board member for Global Sales. Highlighting its focus on innovation, market expansion, and operational excellence in a competitive landscape.
Geographical Presence
Adidas AG, based in Herzogenaurach, Germany, has a strong global presence, with 2021 net sales comprising 37% from Europe, the Middle East, and Africa (EMEA), 24% from North America, and 22% from Greater China.
Alongside rapidly growing markets in Asia-Pacific and Latin America. The brand’s extensive retail network features flagship stores in key cities like New York and London.
Most manufacturing occurs in Asia, especially in Vietnam and Indonesia. This strategic distribution enables Adidas to cater to diverse consumer needs, solidifying its leadership in the sportswear brands/sector.
Recent Developments
- In October 2024, Adidas partnered with ParalympicsGB to provide sportswear for ParalympicsGB athletes.
- In September 2024, Adidas entered into a sponsorship partnership with Hexagon Cup.
Puma
Company Overview
| Establishment Year | 1948 |
| Headquarter | Herzogenaurach, Bavaria, Germany |
| Key Management | Arne Freundt (CEO) |
| Revenue (US$ Bn) | $ 9.3 B (2022) |
| Headcount | ~ 18,420 (2022) |
| Website | https://eu.puma.com/ |
About Puma
Puma SE, a key player in the global sportswear brands industry, has implemented several strategic initiatives to strengthen its market position.
In the third quarter of 2024, the company reported a 5% increase in currency-adjusted revenues, totaling €2.31 billion, though this fell short of analyst forecasts.
The footwear segment saw a robust 9.3% growth, fueled by strong demand in performance categories. Puma plans to relaunch its iconic Speedcat shoe, targeting sales of 4 to 6 million pairs in 2025.
Thanks to its flexible multinational supplier structure, the company is also prepared to adapt to potential U.S. tariff increases.
Additionally, Puma faces ongoing intellectual property disputes, including a lawsuit from Brooks Sports regarding running shoe patents. Underscoring its commitment to innovation and strategic agility in a competitive market.
Geographical Presence
Puma SE, headquartered in Herzogenaurach, Germany, is a key player in the global athletic and casual footwear and apparel industry.
The company operates in three primary regions: EMEA, the Americas, and Asia/Pacific. In 2022, both EMEA and the Americas, centered in Boston, reported sales exceeding €3 billion, driven by growth in Latin and North America.
The Asia/Pacific region, managed by Hong Kong, generated €1.665 billion in sales, primarily from China, India, and Japan.
Puma maintains a strong presence in key markets, including Germany, France, Italy, Turkey, and the United States, with offices in Boston, Hong Kong, and Herzogenaurach, enhancing its sportswear market competitiveness.
Recent Developments
- In July 2024, Puma extended its agreement with Palmeiras to provide sporting equipment to the team.
- In July 2024, Puma, in collaboration with Lemlem, launched a collection in Argentina.
Nike
Company Overview
| Establishment Year | 1964 |
| Headquarter | Beaverton, Oregon, U.S. |
| Key Management | John Donahoe (CEO) |
| Revenue (US$ Bn) | $ 51.3 Billion (2024) |
| Headcount | ~ 79,400 (2024) |
| Website | https://www.nike.com/ |
About Nike
Nike, Inc., a premium sportswear brand in one of the brands, is implementing strategic changes to address challenges such as declining sales and a 24% drop in stock value this year.
In October 2024, Elliott Hill was appointed President and CEO, succeeding John Donahoe, along with leadership changes that brought John Hoke as Chief Innovation Officer and Martin Lotti as Chief Design Officer to boost innovation.
For the first quarter of fiscal 2024, Nike reported a 10.4% decline in net revenue to $11.59 billion, missing analyst expectations and withdrawing its annual revenue forecast due to weak consumer demand.
To tackle these issues, Nike is focusing on rebuilding wholesale partnerships, enhancing consumer engagement through sports, and investing in product innovations like the eco-friendly Nike Forward material, demonstrating its commitment to adapting in a shifting market.
Geographical Presence
Nike, Inc., a global leader in athletic footwear and apparel, reported approximately $49.3 billion in revenues for the fiscal year ending May 31, 2024, with North America contributing $21.4 billion, followed by EMEA at $13.6 billion, Greater China at $7.5 billion, and Asia Pacific & Latin America at $6.8 billion.
The company’s extensive manufacturing footprint includes over 700 contracted factories, primarily located in Asia, facilitating efficient supply chain operations.
Nike has strategically invested in digital platforms, achieving $12.6 billion in digital sales for the Nike brand in fiscal 2023.
This multifaceted approach to market penetration underscores Nike’s ability to adapt to regional dynamics and maintain its leadership in the athletic apparel industry.
Recent Development
- In August 2024, Nike opened a new store in Indore, M.P., India.
- In August 2024, Nike opened a new retail outlet in Quebec, Canada.
ASICS
Company Overview
| Establishment Year | 1949 |
| Headquarter | Kobe, Japan |
| Key Management | Motoi Oyama (CEO) |
| Revenue (US$ Bn) | $ 3.9 Billion (2022) |
| Headcount | ~ 8,927 (2022) |
| Website | https://www.asics.com/ |
About ASICS
ASICS Corporation, a significant player in the global sportswear brands industry, has recently taken steps to enhance its market position.
In September 2024, the company introduced “DISC,” a virtual sport for mixed reality platforms aimed at engaging younger athletes.
The following month, ASICS launched the NOVABLAST™ 5 running shoe, featuring advanced FF BLAST™ MAX foam for improved comfort.
The 2023 sustainability report noted a 29.8% reduction in direct CO₂ emissions and a 21.6% decrease in supply chain emissions since 2015, reflecting ASICS’s commitment to environmental stewardship.
Additionally, the sale of its subsidiary, Haglöfs AB, to LionRock Capital Limited in December 2023 indicates a strategic focus on its core operations.
Overall, these developments emphasize ASICS’s dedication to innovation and sustainability in the competitive sportswear market.
Geographical Presence
ASICS Corporation, headquartered in Kobe, Japan, is a leading global manufacturer of sportswear, operating in over 100 countries.
Its North American headquarters is in Irvine, California, with significant operations in Canada and Mexico. In Europe, the company is based in Amsterdam, managing markets across the continent, while its Asia-Pacific presence includes key markets like Australia, China, India, and South Korea.
ASICS operates manufacturing facilities in Japan, China, Vietnam, and Indonesia to meet global demand. With approximately 1,900 retail outlets and a robust e-commerce platform, ASICS emphasizes health and well-being through sports, backed by research and development initiatives at its Institute of Sport Science in Kobe.
Recent Development
- In September 2024, ASICS launched “DISC,” a virtual sport for VR and MR, designed to redefine sports and inspire a new generation of athletes.
- In August 2024, ASICS Corporation launched METAFUJI TRAIL shoes.
Lululemon-Athletica
Company Overview
| Establishment Year | 1998 |
| Headquarter | Vancouver, British Columbia, Canada |
| Key Management | Calvin McDonald (CEO) |
| Revenue (US$ Bn) | $ 9.6 B (2023) |
| Headcount | ~ 38,000 (2024) |
| Website | https://shop.lululemon.com/ |
About Lululemon Athletica
Lululemon Athletica Inc., a prominent player in the global sportswear brands/market, has implemented strategic measures to strengthen its market position.
Further, In Q2 of fiscal 2024, the company reported a 7% revenue increase to $2.4 billion, with comparable sales up by 2%.
However, flat U.S. revenue led Lululemon to adjust its earnings forecast for fiscal 2024 to $13.95-$14.15 per share, down from $14.27-$14.47.
To address past product strategy issues, including the withdrawal of the Breezethrough leggings, Lululemon is accelerating the launch of new styles, particularly in performance and office wear.
The introduction of the Cityverse sneaker and Beyondfeel running shoe also marks the launch of its first men’s footwear collection. These actions reflect Lululemon’s focus on innovation and adaptability in a competitive landscape.
Geographical Presence
Lululemon Athletica Inc., founded in 1998 in Vancouver, Canada, has built a strong global presence with 711 stores as of January 2024.
The Americas are its largest market, with the U.S. accounting for 79% of net revenue at $7.63 billion and 367 stores, while Canada has 71.
The Asia-Pacific region, particularly mainland China, is also growing rapidly, featuring 127 stores and generating $963 million in revenue.
In the EMEA region, Lululemon operates 20 stores in the UK, 9 in Germany, and 6 in France, along with locations in South Korea, Hong Kong, Taiwan, New Zealand, Japan, and Singapore. This diverse geographical distribution highlights Lululemon’s strategy to enhance its global market presence.
Recent Developments
- In August 2024, Lululemon sold its 81,009 shares to Vanguard Group Inc.
- In June 2024, Lululemon relocated and expanded its flagship store in London, the UK.
Under-Armour
Company Overview
| Establishment Year | 1996 |
| Headquarter | Baltimore, Maryland, U.S. |
| Key Management | Colin Browne (CEO) |
| Revenue (US$ Bn) | $ 5.7 Billion (2023) |
| Headcount | ~ 6,800 (2023) |
| Website | http://www.underarmour.com/ |
About Under Armour
Under Armour, Inc., a significant player in the global sportswear brands industry, has taken strategic steps to enhance its market position.
In May 2024, the company reported a 5% decline in revenue to $1.3 billion for Q4 of fiscal 2024, with a 10% drop in North American revenue and a 7% increase in international sales.
Kevin Plank resumed his role as President and CEO in March 2024 amid executive changes. In September 2024, Under Armour expanded its fiscal 2025 restructuring plan, increasing pre-tax charges to $140 million-$160 million due to plans to close a major distribution facility in Rialto, California, by March 2026.
Additionally, the company agreed to pay $434 million in June 2024 to settle a class-action lawsuit regarding misleading revenue disclosures. These developments underscore Under Armour’s commitment to strategic realignment and operational efficiency.
Geographical Presence
Under Armour, Inc., based in Baltimore, Maryland, is a prominent American sportswear brand focusing on performance apparel, footwear, and accessories.
As of 2024, North America is its largest market, generating about 61.5% of net revenues. The Europe, Middle East, and Africa (EMEA) region contributes nearly 20%, while the Asia-Pacific region is a key growth area with revenues surpassing $870 million, mainly due to expansion in China.
Although Latin America has a smaller share, it presents untapped potential. Under Armour utilizes a diverse distribution strategy, with approximately 40% of revenues coming from direct-to-consumer sales, allowing effective reach to a broad global audience.
Recent Developments
- In August 2024, Outside Interactive, Inc. acquired MapMyFitness, a GPS-based fitness-tracking app, from Under Armour, Inc.
- In August 2024, Under Armour announced its plans to acquire UNLESS COLLECTIVE.
Columbia-Sportswear
Company Overview
| Establishment Year | 1938 |
| Headquarter | Portland, Oregon, U.S. |
| Key Management | Timothy Boyle (CEO) |
| Revenue (US$ Bn) | $ 3.4 Billion (2022) |
| Headcount | ~ 9,450 (2022) |
| Website | http://www.columbia.com/ |
About Columbia Sportswear
Columbia Sportswear Company has implemented strategic initiatives to enhance its market presence in the global sportswear brands industry.
In October 2024, the company reported a 3% increase in third-quarter revenue, totaling $985.7 million, driven by demand for its Columbia and SOREL brands. To refine its marketing approach, Columbia appointed a new creative agency and head of marketing.
Its Omni-Heat Infinity technology also played a role in the historic U.S. moon return in February 2024, highlighting the company’s innovative efforts.
Additionally, the 2022 Impact Report, released in September 2023, emphasizes Columbia’s progress in sustainability and corporate responsibility, showcasing its commitment to growth and responsible practices.
Geographical Presence
Columbia Sportswear Company has a robust global presence, divided into four key regions: the United States (U.S.), Latin America and Asia Pacific (LAAP), Europe, Middle East, and Africa (EMEA), and Canada.
The U.S. comprises about 64% of net sales, with over 1,850 wholesale customers and extensive direct-to-consumer channels.
The LAAP region contributes approximately 15% of sales through nearly 350 wholesale partners, while EMEA accounts for 14% with over 3,400 partners.
Canada represents around 7% of sales through about 550 wholesale customers. Columbia’s products are distributed in more than 72 countries, underscoring its strategic efforts to address diverse market needs.
Recent Developments
- In October 2024, Columbia Sportswear Company revamped its marketing strategy for its flagship Columbia brand
FILA
Company Overview
| Establishment Year | 1911 |
| Headquarter | Seoul, South Korea |
| Key Management | Gene Yoon (Chairman) |
| Revenue (US$ Bn) | $ 30.9 Billion (2023) |
| Headcount | ~ 11,800 (2023) |
| Website | https://www.fila.com/regionselector |
About FILA
FILA Holdings Corp., a significant player in the global sportswear market, has undertaken strategic initiatives to strengthen its position.
In June 2024, the company released its fifth annual sustainability report, “Your FILA Impact – FILA Integrated Report 2023,” highlighting advancements in product circularity and supply chain transparency, including repurposing discarded shoe samples into display tools.
FILA has established teams to oversee sustainability and compliance, conduct third-party audits, and refine supplier criteria.
Additionally, in January 2024, Todd Klein was appointed as Global Brand President to lead product and marketing strategies.
These actions demonstrate FILA’s commitment to sustainability, innovation, and strong leadership in the competitive sportswear brands/sector.
Geographical Presence
FILA Holdings Corp., based in Seoul, South Korea, has established a strong global presence in athletic apparel and footwear, operating approximately 500 distribution facilities and 300 franchised stores worldwide.
The brand thrives in North America and has a prominent identity in Europe, particularly in Italy. In Asia, FILA is well-established in South Korea and has expanded into China, Japan, and India through direct operations and joint ventures while also growing in Latin America through local partnerships.
Strategic acquisitions, such as the 2011 purchase of Acushnet Company, have broadened its market reach. FILA products are available through department stores, specialty retailers, and customized e-commerce platforms, catering to a diverse customer base.
Recent Development
- In September 2024, FILA expanded its sneaker lineup in India by launching the ‘Bellissimo’ collection in partnership with Metro Brands Limited.
HnM
Company Overview
| Establishment Year | 1947 |
| Headquarter | Stockholm, Sweden |
| Key Management | Daniel Erver (CEO) |
| Revenue (US$ Bn) | $ 23.3 Billion (2023) |
| Headcount | ~ 101,103 (2023) |
| Website | http://hmgroup.com/ |
About H&M
H&M Hennes & Mauritz AB has recently strengthened its position in the sportswear market with key initiatives. In August 2022, the company launched H&M Move, an activewear line designed to make stylish and functional sportswear accessible to a wide audience.
Further, the brand emphasizes sustainability, exemplified by its collaboration with LanzaTech, which was announced in April 2023 to create a sportswear collection using CarbonSmart polyester derived from captured carbon emissions.
Additionally, H&M Move introduced an Outdoor Collection in September 2022 featuring high-performance garments for various weather conditions. These efforts highlight H&M’s commitment to innovation and sustainability in the competitive sportswear brands/sector.
Geographical Presence
H&M Hennes & Mauritz AB, a multinational fashion retailer headquartered in Stockholm, Sweden, operates over 4,000 stores across more than 75 markets globally, with a significant presence in Europe, North America, and Asia.
Key markets include Germany, the United States, and China, with India emerging as the fastest-growing market. The company also has a footprint in South America and select markets in Africa and Oceania.
H&M Group encompasses various brands, including COS, Monki, and & Other Stories, catering to diverse consumer preferences.
Recently, H&M announced plans to refurbish 250 stores worldwide and expand its presence in Europe and the Dominican Republic, reflecting its commitment to adapting to changing consumer demands and enhancing the shopping experience.
Recent Development
- In October 2024, H&M launched H&M Adorables, a baby and kidswear label.
- In April 2023, H&M launched a new sportswear collection using LanzaTech’s carbon capture technology.
New-Balance
Company Overview
| Establishment Year | 1906 |
| Headquarter | Boston, Massachusetts, U.S. |
| Key Management | Joe Preston (CEO) |
| Revenue (US$ Bn) | $ 6.5 Billion (2023) |
| Headcount | ~ 8,000 (2024) |
| Website | http://newbalance.com/ |
About New Balance
New Balance Athletics, Inc. is strengthening its position in the global sportswear market through various strategic initiatives.
Moreover, In June 2023, the company launched a $65 million expansion of its Skowhegan, Maine, facility to double production capacity and create 200 jobs, emphasizing its commitment to U.S. manufacturing.
In October 2024, it introduced the TCS NYC Marathon® Fresh Foam X 1080v14, highlighting its focus on performance innovation.
Additionally, New Balance enhanced its athlete endorsements by signing 17-year-old basketball prodigy Cooper Flagg in September 2024, adding to its roster that includes Coco Gauff and Shohei Ohtani.
Further, these initiatives reflect New Balance’s dedication to manufacturing quality, product innovation, and strategic marketing within the competitive sportswear brands industry.
Geographical Presence
New Balance Athletics, Inc., based in Boston, Massachusetts, is a prominent manufacturer of athletic footwear and apparel with a robust global presence.
The company has manufacturing facilities in Maine, Massachusetts, and Flimby, England, serving the U.S. and European markets. With around 4,000 retail locations worldwide, New Balance boasts a strong distribution network across North America, Europe, Asia, and Oceania.
As of 2022, it commands a 10% market share in the U.S. athletic shoe sector and 6% globally. Through strategic initiatives, the company seeks to strengthen its market position and address the diverse needs of its international customer base.
Recent Developments
- In February 2024, New Balance Athletics opened a new store in Hyderabad, India.
- In June 2023, New Balance Athletics expanded its current athletic footwear manufacturing factory in Skowhegan, Maine.
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