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Global Sports apparel market is expected to garner $186.4 billion by 2020, registering a CAGR of 5.3% during the forecast period 2015 – 2020. Sports apparel is mainly worn during workout sessions or while playing a sport. Sports attire is designed to provide comfort and agility during physical movements of the body. The global sports apparel market has witnessed astounding growth majorly due to growing health awareness and increasing fitness activities such as aerobics, swimming, running, and yoga amongst a large number of consumers. The market is further boosted by the increasing participation of women in various sports and fitness activities. Based on geography, North America was the largest revenue-generating region in the global sports apparel market in 2014.
However, Asia-Pacific would be the leading revenue-generating region by 2020, owing to improving living standards and increasing disposable income in the emerging countries such as India and China. However, the availability of low quality and counterfeit products or fake products has restricted the growth of the global sports apparel market. Numerous key players are operating in the market which includes Nike, Inc. , Umbro, Ralph Lauren Corporation Ltd., Fila, Inc., Lululemon Athletica Incorporation, Columbia Sportswear Company, New Balance Athletic Shoe, Inc. These companies have adopted various growth strategies to capture a larger market share and increase their growing customer base.
Product launches along with partnerships and acquisitions are the prime growth strategies adopted by these companies to sustain the intense competition in the market. In July 2014, Adidas entered into partnership with Manchester United, and in 2015 Nike with Chelsea two of the most successful and popular football clubs in the world, to promote its products globally. This has helped both the companies to strengthen their market position in various geographies.
India’s sportswear market has evolved from a niche segment, which was exclusively aimed at sportspersons, to an escalating consumer sector. Driven by growth in income levels, changing lifestyles and the entry of foreign players after liberalization, the industry has witnessed speedy growth over the past few years. The ever-increasing popularity of cricket, combined with the emergent interest in sports such as football, hockey and tennis, has contributed to the growth of the efficient sportswear market in the nation. In addition to this, the trend of using sportswear as casual wear has expanded the definition of target consumers for leading brands. Some brands also offer collections to cater to this demand for casual wear.
The sportswear retail market in India is estimated at INR365.8 billion and is expected to grow at a robust CAGR of 33% during 2010–2014. The market includes sports apparel, footwear and accessories, with footwear being the largest segment, accounting for around 60% of the total market. The country’s sportswear segment is largely unorganized with organized players constituting only around 30% of the market. Franchised exclusive brand outlets (EBOs) and multi-brand outlets form the core retail channels for sportswear in India. Thus, there is need of research and analyzing the market trends through competition Analysis which comprises of Tools like Marketing Mix, SWOT Analysis so as to fulfill customer demand and at the same time maintaining the brand profitability.
In 1994, Nike entered the Indian market through a licensing arrangement with Sierra Industrial Enterprises Pvt. Ltd. The company later established a wholly owned subsidiary in India in 2004.
Today, the organized sportswear market in India is dominated by the “big four” (Adidas, Reebok, Nike and Puma) global players, which have over 80% market share of the organized market, with several others such as Fila and Lotto ramping up their presence.
These brands face competition from multi-brand sportswear retailers such as Planet Sports and Royal Sporting House (RSH).
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