The market is looking good for sports apparel companies. According to Statista, the total revenue in this market is predicted to rise as high as $207bn by 2025. The rise of 'athleisure' has been a large contributor to this market's growth. In the U.K. alone, sales of women's athleisure outfits has seen tremendous growth in recent years.
Founded in 1998, Sweaty Betty has become a well-known brand on both the UK high street and online. In fact, a woman buys a pair of their 'Power Leggings' every 60 seconds - evidence of a community of followers which Sweaty Betty has cultivated through its focus on both product and lifestyle. With over 65 stores, Sweaty Betty is undoubtedly one of the big players in this market.
That being said, Sweaty Betty faces direct competition in the UK from the likes of Nike, Adidas and GymShark, to name a few. Following its sale to Wolverine World Wide, Sweaty Betty is now accelerating its expansion into the US market where it will undoubtedly face increased competition, especially from the North American athleisure powerhouse, Lululemon. This acquisition, however, has led to a March 2023 announcement that the UK workforce will be drastically reduced.
Steph
Company Specialist at Welcome to the Jungle
