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Essay / Growth of Sportswear Industry and Nike...
The global sportswear industry is expected to grow and possibly exceed $126 billion by 2015. This is mainly due to a notable trend towards a healthier and healthier sector. more active lifestyle. Older demographic segments, as well as female representatives, are primarily adapting to this change. The global sportswear industry is highly fragmented with many different companies competing. These brands range from basic discount brands to largely distinct high-end fashion names. Even the largest, established brands must change and adapt to meet the fluctuating needs of wholesale and retail customers. This is extremely difficult, as consumer demands are increasingly varied in terms of comfortable and functional clothing. This means that companies must produce new styles of sports equipment to meet these specific requirements. And pursuing such a strategy will ultimately preserve the companies' market share in the industry. The sportswear industry is made up of various companies responsible for the manufacturing and retailing of sports clothing, accessories and equipment such as running and workout wear, golf wear, baseball clothing and merchandise, football and basketball uniforms, etc. The industry is so diverse in terms of market players that the top 5 companies hold approximately 22% of the entire market. More and more companies are partnering with fashion designers to offer attractive new clothing styles and expand their product lines. This is surely a good thing, as consumption is bound to increase due to the recent trend of replacing formal and uncomfortable office wear with more casual and sporty clothing. The sportswear industry today...... middle of paper... ...forms. In 2010, Nike launched its Pro Combat jersey collection, affiliated with many universities in the United States such as: Miami, Alabama, Florida, Ohio, Texas, Pittsburg, Oregon, Virginia, etc. 1.4 Market Share Sports giant Nike is the leading player in the global athletics sector. footwear market with an estimated market share of around 20%. The company is well positioned to grow its market share in the long term. Factors expected to benefit its position include factors such as a high growth rate in footwear sales, a strong competitive position, and rapid growth in key footwear markets. The global sports footwear market is expected to grow at a rate of 1.8% to $84.4. billion in 2018. The growth is expected to be driven by factors such as increasing population, increasing disposable incomes, growing health awareness and launch of innovative footwear designs and technologies..