The fashion industry got a forced makeover due to the pandemic. As an industry that thrived on newness and delivering styles for personal self-expression, the fashion consumer suddenly expected more from the clothing they wear. They demanded comfort and performance first. Less important was fashion that looked good on the outside, but fashion that felt good and was good for the wearer.
Consumers found the answer in the broader $240 billion global sporting goods apparel market, classified by McKinsey into three subsegments: athleisure/sports inspired apparel (40% of the total market), performance (45%) and outdoor apparel (15%).
Of these, athleisure/sports-inspired apparel is experiencing the strongest growth, up 3.9% CAGR from 2019 through 2023, as compared