Aug 24, 2012: According to UK based textile intelligence, demand for summer sportswear brands have gone up post London Olympics 2012. In US alone, the sales of sports equipments, apparels and footwear reached $77.3 bn in 2011 which is up by 4.2% when compared to previous FY sales. The industry expect further increase in sales as a result of Olympic games this year.
The global sportswear market is estimated to be $315 bn in which Adidas and Nike hold 40% of the share all together. The main drivers of demand are the increasing discretionary spending by consumers, rise in participation by women in some sporting events, willingness to have healthy and active lifestyle etc. Many big names in the industry are widening their brands extensively owing to this demand.