Outlook 2025: Chances for the sporting goods industry

What does the future hold for the sporting goods industry in 2025 amidst a climate of uncertainty and constant change? Dive into our comprehensive analysis that shows chances for growth in a challenging economic landscape. We give a status update on the current situation and describe 6 opportunities
The situation: Consumers are saving – but not so much on sports

More than many other consumer goods industries, sporting goods have proven over the years to remain relevant to consumers in times of crisis. At least relative to the fashion industry, with which it is often compared.

Adidas is expecting an operating profit of around €1.2 billion in 2024, up from the previous forecast of around €1 billion. Sales are expected to increase by around 10 percent, with a target of high single-digit growth. Asics reported a 64 percent increase in operating profit in the nine months to Sept. 30. Hoka’s sales also rose by more than a third (34.7%) in the first two quarters of 2024, prompting parent company Deckers Brands to raise its forecasts. Shoe manufacturer Wolverine Worldwide was unable to report such good figures for the third quarter, with group sales actually falling. It’s Merrell that continues to drive growth in the quarter, albeit by only 1.4 percent. Nevertheless, Wolverine is also raising its guidance. “In the third quarter, we achieved better sales and profits than expected, led by Merrell and Saucony, which exceeded our forecast,” said Chris Hufnagel, the brand’s President and CEO. “We have achieved another quarter with a record gross margin and more than doubled our profits compared to the previous year.”

The situation in the fashion is quite different: French luxury goods group Kering SA continued its downward trend in the third quarter, reporting a 15 percent drop in sales from the previous year. Rival LVMH reported a 4 percent drop in third-quarter sales after a disappointing first half. And it’s not just the luxury sector that’s suffering.

H&M’s group sales fell by 3 percent in the third quarter. Third-quarter results for Zara’s parent company, Inditex, were stable but fell short of market expectations, sending its shares down by up to five percentage points.

Outlook 2025 – Six opportunities

1. Positive sentiment in sports
2. Sales drivers: Running, health and the fashion-sport fusion
3. DTC or wholesale – Valuing all channels
4. More innovation – No go without it
5. Fitness on the rise
6. Racquet sports continue to grow