Global market research company Euromonitor International presented new research today at the press briefing ‘What’s next for athleisure and how luxury is stepping it up’. According to Euromonitor analysts, the growth in global wealth is underwriting luxury lifestyle and wellness trends, as consumer interest veers towards experiences rather than personal luxury goods.
Fflur Roberts, head of luxury goods at Euromonitor International comments, “The more global wealth grows, the more people will look for experiences. It’s very much about status as they want to show they care about their bodies and self-preservation, which is why more people are health conscious about what they do, eat and wear.”
The growth in athleisure is not only influencing the luxury goods industry but also the jeans category as yoga and jogging bottoms have gained consumer appeal, becoming versatile “must have” items in many wardrobes globally. According to Euromonitor International, the global jeans market has seen a slow growth over the last few years. Magdalena Kondej, head of apparel and footwear at Euromonitor International comments, “to fight back, the jeans industry is now looking at ways of turning the athleisure trend into its own opportunity, as brands design denim for men and women with new stretch fibres and fabrics with more effective sweat management to make them feel like jogging bottoms.” The new innovations in more comfortable textures has helped jeans see a global increase of almost 4 percent in 2016.
“Athleisure is still going strong and will begin to evolve into a more sophisticated trend, impacting multiple categories and industries,” says Bernadette Kissane, apparel and footwear analyst at Euromonitor International. “Previously sportswear has been used as a fashion statement, and going forward the boundaries between these two industries will continue to blur as athleisure leads to an entirely new way of dressing.”