Part 9/15:
Nike’s dominance in athleisure—think hoodies, leggings, and sports-inspired fashion—has also faced challenges. Lululemon, a Canadian apparel company, has experienced explosive growth, increasing revenues from $3 billion in 2017 to $8 billion in 2023. Its focus on premium, stylish, and functional sportswear has attracted a broad demographic, especially in the U.S. Market.
Similarly, emerging brands like Vari, Aloe, Adonola, Tala, and Represent are gaining ground, especially among younger consumers and in regional markets, further chipping away at Nike’s market share.