In a direct completion to Lululemon, apparel brands are expanding their athletic apparel offerings. As per a Pymnts.com report, Gap Inc.’s Athleta brandhas launched a new wellness platform, while Victoria’s Secret has started a new collection of athleticwear and Kate Hudson-backed Fabletics plans to launch a $5 billion IPO soon.

Footwear company Wolverine Worldwide acquired UK-based direct-to-consumer (D2C) athletic apparel brand Sweaty Betty for $410 million in cash. Wolverine also owns Keds, Sperry, Stride Rite, Merrell and Saucony, among other brands. Brand Sweaty Betty plans to accelerate the opening of brick-and-mortar stores in the US. It also aims to convert its 60-plus stores into experience for consumers. It has already evolved its product range to be beyond just performance activewear to more lifestyle.

As per Blake Kreuger, CEO, Wolverine Worldwide, the athleisure segment is poised for continued accelerated growth. The market represents over $200 billion in revenue and is currently growing in the mid to high single digits. Earlier this year, Calvin McDonald, CEO, Lululemon had said that the pandemic has accelerated and accentuated trends that have caused athleisure to grow in the last several years.