Curated News
By: NewsRamp Editorial Staff
June 24, 2024
Athleisure and Luxury Trend: Lululemon Dominates, Nike Struggles, and Other Companies Pivot to Meet Consumer Demand
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- Lululemon's decade long surge to leadership has allowed them to post double digit growth in revenue and earnings, surpassing competitor Nike.
- AXIL Brands Inc. leveraged multi-functional fashionable Bluetooth ear buds with built in hearing protection and enhancement to complement the athleisure trend, entering the 2024 Paris Summer Olympic Games, NASCAR stadiums, personal fitness routines, and concert venues.
- The athleisure trend has led to a healthier bottom line and a healthier consumer, enhancing the quality of life and promoting outdoor healthy living activities.
- Recent athleisure trends have highlighted the growth in a space where athleisure meets luxury, spilling over into personal electronics choices and outdoor recreation equipment and apparel.
Impact - Why it Matters
This news matters because it highlights the significant impact of the athleisure and luxury trend on the consumer market, with Lululemon's dominance, Nike's struggle, and the successful pivots of AXIL Brands Inc. and YETI Holdings, Inc. This trend is shaping consumer behavior and preferences, impacting the success of major brands, and offering insight into the future of the consumer market.
Summary
The athleisure and luxury trend has seen Lululemon dominate the multi-generational market with double digit growth, while Nike struggled to keep up. AXIL Brands Inc. and YETI Holdings, Inc. have also leveraged the trend, with AXIL posting triple digit earnings growth and YETI pivoting into high quality apparel. The common theme is that quality offerings designed to enhance quality of life lead to a healthier bottom line and a healthier consumer.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Athleisure and Luxury Trend: Lululemon Dominates, Nike Struggles, and Other Companies Pivot to Meet Consumer Demand
