Global Athleisure Market to grow by
Recently a new report from reputed research firm ResearchAndMarkets.com mentioned
that the athleisure category will register a CAGR, of nearly 7
percent by 2023. According to the report, millennials are
driving demand in this category with high fashion brands
embracing athleisure. The report concluded rising adoption of
athleisure wear by millennials and the working population will
further boost market growth in the forthcoming years.
Brands like Lululemon and Gap are also increasing their sales of
menís athleisure apparel with a greater focus on technical
fabric innovations designed to advance their offerings. Last
October, Gap launched Hill City, its high performance menís
apparel brand that uses technical fabrications for apparel those
transitions with the wearer throughout the day, from working out
to work and to the weekend.
Retail consultant Gabriella Santaniello, who founded research
firm A-Line Partners, believes that the category is stabilising
and there is still room for growth for companies that continue
to provide innovation and execute well. For instance, Lululemon
has used innovation as a tool to grow the already established
womenís line, with the introduction of new fabrics and
categories like intimates, while the menís line is slated to be
the firmís growth vehicle.