A new report from ResearchAndMarkets.com on “Global Athleisure Market 2019-2023” projects 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 men’s athleisure apparel with a greater focus on technical fabric innovations designed to advance their offerings. Last October, Gap launched Hill City, its high performance men’s 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 women’s line, with the introduction of new fabrics and categories like intimates, while the men’s line is slated to be the firm’s growth vehicle.
