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Sportswear companies increasingly focusing on women audience

"Sportswear market has been attracting a lot of clout of late and now women are becoming their biggest growth drivers. A study by Allied Market Research found the sportswear category will grow at a CAGR of 4.3 per cent to reach a total market worth of $184.6 billion by 2020. And though the men’s sportswear segment make up around 52 per cent of the revenue and is the highest revenue-generating segment in sports apparel market, every brand has realised the potential of women’s segment that is expected to grow at a relatively higher CAGR of 5.7 per cent during the forecast period. "

 

 

Sportswear companies increasingly focusing on women audience

 

Sportswear market has been attracting a lot of clout of late and now women are becoming their biggest growth drivers. A study by Allied Market Research found the sportswear category will grow at a CAGR of 4.3 per cent to reach a total market worth of $184.6 billion by 2020. And though the men’s sportswear segment make up around 52 per cent of the revenue and is the highest revenue-generating segment in sports apparel market, every brand has realised the potential of women’s segment that is expected to grow at a relatively higher CAGR of 5.7 per cent during the forecast period. This is because of the increased involvement of women in sporting and fitness activities across the globe. Owing to this, sportswear brands are launching ‘women’ specific lines into their portfolio. For instance, Nike and JD Sports have opened up stores that are all-woman because of the trending size of women sportswear market. Significantly, the sport industry is encouraging collaborations between sports brands and fashion industry in order to produce new styles to cover the needs of the young and women segment that are significantly growing over the past years.

Campaigns focussed on women audience

Sportswear companies increasingly focusing

 

Nike recently launched #BetterForIt campaign to attract women audience, and the efforts have paid off. Going by the success, it launched a web-series called ‘Margo vs. Lily’. Under Armour, too has been aggressively pushing this agenda by taking on board stars like Gisele Bundchen and Misty Copeland. Their catchphrase ‘I will what I want’ has created quite a buzz in the market. According to consulting firm Conlumino, Under Armour’s business approximately splits at about $1.14 billion for women and $2.69 billion for men.

In 2016, Puma introduced cross-category collections by merging sports and fashion. Its ‘Do You’ campaign inspires confidence in women around the world, collaborating with a number of famous female brand ambassadors such as Rihanna, Kylie Jenner, Cara Delevingne and the New York City Ballet has helped to tell a powerful story. Recently Adidas has also hired a new team to overlook the new direction with the dictate, ‘Bring the active woman to the store’. The company has brought onboard Christine Day, former CEO of Lululemon, to advise the brand. Taking the initiative one notch up, it has launched a subscription box specifically for women called Avenue A, which contains a selection of seasonal training gear for women, curated by what Adidas is calling ‘fashion-forward trendsetters and trainers’. With such initiatives, it’s sure to be raining options for women in sportwear.

 
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