Who are Lululemon's top competitors?
Athleisure market is projected to grow by $80.74B between 2020-2024
Although Lululemon has become a purveyor in high-end yoga apparel, the Canada-based retailer is not the only one dominating the athleisure market.
The athleisure movement has continued to expand over the years with many global brands "aligning their marketing strategies" in response, according to ResearchAndMarkets.com’s “Global Athleisure Market report.
According to the findings, the market is projected to grow by $80.74 billion during 2020-2024 alone.
The report also notes that millennials and the working population "will further boost the athleisure movement market growth" in the coming years in part because companies have increasingly adopted fitness initiatives.
However, the market is fueled by plenty of competition.
According to Research and Markets' report, the key players include:
Adidas
Adidas was born in Germany but has since stretched into communities around the world. Globally, the company employs over 59,000 people. In 2019, the company produced over 1.1 billion sports and sports lifestyle products through independent manufacturing partners worldwide and generated sales of 23.640 billion euros, according to Adidas.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ADDYY | ADIDAS AG | 123.82 | +2.23 | +1.83% |
Nike
The company is based in Beaverton, Oregon, and includes the Nike, Converse, and Jordan brands. To date, the company's worth tops $148 billion. According to the company earnings report, its supplied by 112 footwear factories within 12 countries. The company is also supplied bu 334 apparel factories within 36 countries.
As of May 31, 2019, we had approximately 76,700 employees worldwide, including retail and part-time employees.
The company, which noted that Lululemon Athletica, Puma and Under Armour were among its competitors revealed "the intense competition and the rapid changes in technology and consumer preferences in the markets for athletic and leisure footwear and apparel and athletic equipment, constitute significant risk factors in our operations," according to the company's latest annual earnings report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NKE | NIKE INC. | 94.12 | +0.18 | +0.19% |
Puma
As of 2019, the company employed more than 14,000 people. The company has several offices and retail shops around the world.
For 2019, the company's sales increase by 18.4 percent to 5,502 million euros in revenue, according to the company's latest annual earnings report. Additionally, the company touted it received a double-digit growth in all regions and in all divisions.
"To further strengthen our sports performance positioning, we entered into many new partnerships with internationally renowned football clubs and increased the brand’s visibility at key sports events globally through great performances of our sponsored athletes and teams," the company explained in its latest annual earnings report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PUMSY | PUMA SE | 4.64 | +0.16 | +3.66% |
Under Armour
The retailer's products are available online and at more than 15,000 retail locations throughout the globe. Aside from Under Armour' stand-alone shops, the products can be found within retail chains such as Dick's Sporting Goods, The Sports Authority, Hibbett Sporting Goods, Modell's Sporting Goods, and Academy and outdoor retailers such as Bass Pro Shops and Cabela’s.
In 2019, the company's revenue grew one percent to $5.3 billion, according to the company's latest annual earnings report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UAA | UNDER ARMOUR INC. | 6.80 | +0.11 | +1.64% |