2024年运动服装报告.pptx
SectorUpdate
Sportswear
Robustgrowthprospectsamidintensifyingcompetition
SalvioCascarino|AssociateDirector–ConsumerGoods–EMEA
AriannaValezano,CFA|SeniorAnalyst–ConsumerGoods–EMEA
RoccoSemerano|DirectorLeadAnalyst
–ConsumerGoods–EMEA
RaamRatnam|ManagingDirector,
SectorLead–ConsumerRetail–EMEA
SPGlobal
Ratings
Thisreportdoesnotconstitutearatingaction
June25,2024
Industryoverviewandkeytakeaways3
Selectedratedentitiesinsportswear14
Selectedratedentities’businessandfinancial17
considerations
Recentratingactionsandpublications24
SPGlobalRatingscontacts27
Ratings2
Contents
SPGlobal
IndustryOverviewAndKeyTakeaways
Ratings3
SPGlobal
Thesportswearindustryhassolidgrowthprospects.Demandisunderpinnedbytheincreasingnumberofwomeninsports,thecasualizationofdresscodes,andcontinuedpenetrationinAPAC.
Short-termchallengesin2024relatetohowquicklyconsumerconfidencerecovers.Competitivepressureswillremainhigh;fromlocalbrandssuchasAntainChina,newerbrandssuchasOnRunningandHoka,andwell-performingbrandslikelululemonandNewBalance.
Weexpectvolumesandproductinnovationwilldrivegrowthin2024,withamoderatepricecontributionasinflationeases.Astepupinmarketingexpensestosupportpreviouspricehikesandpromotenewproductscouldweighonprofitabilityexpansion.Asi