In our annual in-depth look at the athletic apparel market, we bring you the global revenue and market shares of 29 of the world’s biggest sportswear companies. With promotional marketplaces in North America, China and elsewhere, and conservative ordering by retailers, growth in global athletic apparel sales slowed for third consecutive year in 2023. Our expert Bob McGee shows how 2022 shaped up against 2021, with a focus on the European market. This exclusive, yearly statistic is available only to subscribers of SGI Europe.

Athletic apparel sales at a glance

Worldwide athletic apparel sales increased by a mere 1.7 percent year-over-year in 2023 to nearly $121.1 billion from $119.1 billion. The improvement was slower than the growth rates in 2022 (+5.2%) and 2021 (+30.4%).

Asia-Pacific was the only geography to increase its athletic apparel sales last year, rising by 10.0 percent to almost $28.7 million and fueled by China’s post-Zero Covid re-opening. Elsewhere, the largest market for athletic apparel, the US, fell by 0.7 percent to $52.3 million from $52.7 million, and other regions (largely Canada and Latin and South America) slipped by 0.8 percent to $9.55 billion.

It should be noted that the US dollar weakened slightly against the euro in 2023, but continued to strengthen against the Japanese yen, slightly distorting results for companies reporting in non-dollar currencies.

Biggest gainers and decliners among sportswear brands

On a percentage basis, the biggest sales gainers among the top 29 brands tracked annually by Sporting Goods Intelligence Europe  were Amer Sports (+39%), Asics (+36%), Lululemon (+18.6%), Gymshark (+15.7%), and Anta (+13.1%).

On the downside, seven brands lost market share in the global sports apparel segment in 2023, led on a percentage basis by Hanesbrands (-16.7%), Delta Apparel (-14.4%), Russell (-12.1%), Fila (-10.1%), Boardriders (-10.0%), Adidas (-8.4%), and Gap -owned Athleta (-8.1%).

In July, Hanesbrands secured an agreement to divest its Champion sportswear business to Authentic Brands Group. The $900 million transaction for Champion’s collegiate and EU business is expected to close by the end of 2024.

Meanwhile, Delta Apparel, which has been operating under bankruptcy protection, has through the court sold off its Salt Life apparel brand and assets to Iconix Intl./Hilco Merchant Resources for $38.74 million.

Nike and Adidas accounted for 20.0 percent of the global athletic apparel market last year, but lost a combined 80 basis points of share to smaller competitors, despite 1 percent higher overall sales.

Second-tier brands with at least $2 billion in annual apparel revenues, including Lululemon, Anta, Columbia and Gildan, picked up 70 basis points of share to reach 27.9 percent.

Ten brands had more than $2 billion in annual sales, and 16 had more than $1 billion, with New Balance  poised to surpass that key figure in 2023.

A closer look at the European market

Total European sportswear market sales contracted by 0.6 percent to $30,573 million from $30,760 million, impacted by three major category forces reporting lower year-over-year revenues that more than offset the regional share gains of six brands.

Nike and Adidas combined captured 47.4 percent of the EU branded sportswear market with revenues of nearly $7.89 billion, down 220 basis points from the combined EU market share of 49.6 percent in 2022. German brands Adidas and Puma  reached a combined $4.83 billion in European sportswear sales last year, a decline of 3.1 percent, from $4.98 billion in 2022, that sent their combined share of the market down by 60 basis points to 29.1 percent.

Adidas cited improved year-over-year apparel sales when it reported Q2 results in late July, rising by 8 percent in constant currency thanks to strong sales in football jerseys. Nike, meanwhile, is promising to reinvest nearly $1 billion into consumer-facing activities as of FY25 (December), to help it accelerate sales growth. Arc’teryx is spearheading Amer’s apparel growth, but the company also sees “significant double-digit” growth potential for its Salomon soft goods business. Fila’s 2023 brand results were impacted by conservative ordering from retailers and ongoing promotional activities.

The Big 3 – Nike, Adidas and North Face and Timberland parent VF Corp.  – lost a combined 180 basis points of market share in Europe last year. Meanwhile, six brands increased their respective market shares in the EU in 2023 by a combined 200 basis points. The group was led by three brands with 50-basis-point gains: Lululemon (to a 1.7% share), Puma (to a 4.6% share) and Amer Sports (to a 1.9% share).

Separately, five brands maintained their respective market shares in Europe – Fila, Reebok, Helly Hansen, Asics and Speedo – and 15 brands in annual ranking have less than 1 percent or no market share in Europe in 2023.

Detailed market shares by region are available in our annual Apparel & Footwear Market Facts  report, which can be ordered at admin@edmpublications.com

Metholdology

SGI Europe’s annual study of the global sports apparel market relies primarily on publicly available data from the major companies, supplemented by input from management at key brands, press and credit reports, and our own estimates when no other data is available.

Most of the stated sales are wholesale value, but some major brands include the retail value of apparel sales in their numbers, so the equivalent wholesale value is overstated by perhaps 8 to 10 percent, with an estimated 20 percent or more of DTC at a 50 percent gross margin.

Sales of licensees, Fila’s included, are grossed up.

All data is compiled in local currencies and converted into US dollars at the average OECD rate for the year.

In most cases, companies are listed with all their brand sales, since many today operate multi-brand platforms.

 

Access more from our exclusive annual Market Analysis   section today. At SGIEurope.com, you can find:

Our database of data visuals  – with downloadable infographics, data and charts – is updated with a new infographic every week. It is available exclusively for Premium Subscribers

Supporting documents

Click link to download and view these files
Download All

Topics