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Global sports apparel sales experienced a slowdown in 2023, with growth rates lower than in previous years. Worldwide athletic apparel sales increased by only 1.7% to nearly $121.1 billion. The Asia-Pacific region saw an increase in sales, driven by China's post-Zero Covid reopening, while the US, the largest market for athletic apparel, saw a slight decline in sales. Among the top sportswear brands, Amer Sports, Asics, Lululemon, Gymshark, and Anta experienced the biggest sales gains, while Hanesbrands, Delta Apparel, Russell, Fila, Boardriders, Adidas, and Athleta saw declines in market share. Nike and Adidas lost a combined 80 basis points of market share in the global athletic apparel market in 2023, despite a 1% increase in overall sales. Second-tier brands such as Lululemon, Anta, Columbia, and Gildan gained 70 basis points of market share. In the European market, Nike and Adidas captured 47.4% of the branded sportswear market, down from 49.6% in 2022. German brands Adidas and Puma saw a decline in sales, while Lululemon, Puma, and Amer Sports gained market share in Europe. The data is based on publicly available information, industry sources, and SGI Europe's estimates. [Extracted from the article] |