In this article, we shall discuss the 25 best sportswear brands in the world. To skip our detailed analysis of the global sports apparel industry in 2024, go directly and see The 10 Best Sportswear Brands in the World.
The Global Sports Apparel Industry: An Overview
Sports apparel refers to the clothes that one wears while engaging in physical activity and sport such as hiking, running and yoga. Sports apparel consumers tend to engage with the industry via online and offline distribution channels, causing the market to experience a steady growth in a post-pandemic environment. In 2023, the global sports apparel industry was valued at more than $203.3 billion and is projected to reach $271.8 billion by 2030, at an impressive CAGR of 4.24% during the forecast period. The industry’s impressive growth projections are predicated on the fact that the industry is well-positioned to capitalize on some of the tailwinds affecting the market, like new product innovation and increasing participation in sports activities post-COVID in enormous markets like India, the U.S. and China. There is also an increasing global preference for recreational activities especially amongst the younger demographic which has been further fueling the demand for the best sportswear brands in the world. In 2023, more than 54% of Americans aged 6 years or above engaged in at least one physical activity, according to the 2023 Outdoor Trends Report by the Outdoor Industry Association. You can read more on trends affecting the global sports apparel industry in our article 15 Highest Quality Athletic Wear Brands in the US.
A good indicator of the tailwinds affecting the sportswear industry in 2024 is improving investor sentiment around major players like Nike Inc. (NYSE:NKE). The stock’s valuation is expected to skyrocket amid reports that WNBA star Caitlin Clark is slated to sign a $28 million contract with Nike Inc. (NYSE:NKE). In Q1 2024, the stock raked in earnings of $0.98 per share, beating EPS estimates of $0.74 by $0.24. In the last five years, Nike Inc. (NYSE:NKE) is up more than 7.17% as of April 25. Moreover, investor sentiment around the stock has also improved considering the fact that the company has unveiled plans to cut 2% of its workforce to improve efficiency and reduce spending. This has caused the stock to deliver top-line growth of 0.3% year on year, beating analyst expectations by 1.1%.
Another major stock in the sports apparel industry is Skechers USA Inc. (NYSE:SKX), which is an American multinational footwear and apparel industry which primarily focuses on sportswear and casual wear and is one of the best sportswear brands in the world. In 2023, the stock raked in an annual revenue of more than $8 billion and in the last five years, is up more than 89.83% as of April 25. In Q1 2023, Skechers USA Inc. (NYSE:SKX) delivered an EPS of $0.56, beating estimates of $0.55 by $0.01, signaling a strong quarter for the stock.
The TJX Companies, Inc. (NYSE:TJX), which is an American multinational off-price department store corporation, is also one of the best sportswear brands in the world due to its extensive sportswear portfolio. In Q1 2024, the stock delivered earnings of $1.22 per share, beating EPS estimates of $1.12 by $0.1. In the last five years, The TJX Companies, Inc. (NYSE:TJX) is up more than 73.05% as of April 25. On April 25, Goldman Sachs analyst Brooke Roach raised the price target on The TJX Companies Inc. (NYSE:TJX) to $110 from $110, and changed the rating on the stock from Neutral to Buy, considering its dividend yield of 1.57% and expectations that the company will keep paying out more than 37% of its profits over the next three years.
Winning the China Market: Key Trends
As we mentioned in our article on the 15 Biggest Clothing Manufacturing Countries in the World, the market in China for the best sportswear brands in the world continues to be one of the most dynamic in the world, with the industry projected to deliver double-digit growth catalyzed by a growing middle class. Local players in the Chinese market are integrating more efficient operating models and supply chain mechanisms and thereby, are outpacing global companies like Nike Inc. (NYSE:NKE), Skechers USA Inc. (NYSE:SKX), and The TJX Companies Inc. (NYSE:TJX). They are also harnessing the power of social media and e-commerce channels in a bid to form direct connections with the average consumer. In a bid to strengthen long-term competitiveness in the Chinese space, global brands are divesting greater investment in tailoring their brand positioning to attract local consumers and develop a local marketing engine to deliver genuine value proposition. According to McKinsey, global players are also realizing the shift from traditional departmental retailers to shopping malls in premium locations, which offer a more diverse lifestyle experience and food and beverage options. Hence, to capitalize upon this massive shift in consumer preferences, some of the best sportswear brands in the world are realigning store network presence in more lucrative traffic centers.
One major trend in the Chinese market is that consumers have adopted the omnichannel approach and tend to oscillate frequently between online and offline touchpoints before purchasing the best sportswear brands in the world. In a bid to capitalize upon this changing dynamic, companies looking to make a footprint in China like Nike Inc. (NYSE:NKE), Skechers USA Inc. (NYSE:SKX), and The TJX Companies Inc. (NYSE:TJX) are investing in targeted actions to implement an efficient omnichannel D2C strategy. In order to capture the value at stake, these companies are upgrading existing digital touchpoints in order to improve customer experience whilst training store staff for better consumer engagement. They are also incentivizing omnichannel customer acquisition independent of physical outlets.
Despite starting off with their global assets and IP as a bedrock of innovation, the are now incorporating and integrating design elements that resonate with local tastes and trends. In a bid to compete with local players, companies like Nike Inc. (NYSE:NKE), Skechers USA Inc. (NYSE:SKX), and The TJX Companies Inc. (NYSE:TJX) are reinvigorating their organizational structure and speeding up time to market by adopting ‘test and chase’ models.
August_0802 / Shutterstock.com
Our Methodology
To compile our list of the the 25 best sportswear brands in the world, we decided to undertake a consensus-based approach using a diverse variety of credible sources and research. We then shortlisted more than 40 brands which appeared most frequently during our research. Since quality of a sportswear brand is an incredibly multifaceted and complex phenomenon, we decided to consider a 2016 market research report by the Institute of Business Research, which surveyed dozens of respondents to determine the factors which influence consumers’ purchase intention and willingness to pay for sportswear brands. We used some of the most common findings to establish a five-pronged criteria; the criteria is premised on each brand’s design value (10 points), durability (10 points), innovation (10 points), inclusive sizing options (10 points), and sustainability (10 points). We then proceeded to award each brand a cumulative score according to the aforementioned criteria and selected 25 brands which scored the highest points. Subsequently, we ranked each entry based on the total points scored, from lowest to highest. Where there was a tie, we broke it based on the brand’s design value, durability and innovation scores.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
For a more focused analysis on a particular kind of sports apparel, check out our coverage of the 15 Largest Shoe Companies in the World.
The 25 Best Sportswear Brands in the World
25. Academy Sports + Outdoors
Insider Monkey’s Score: 24
Headquartered in Texas, Academy Sports + Outdoors provides its customers with a wide range of sporting and outdoor recreation products. Most of its products range from clothing and footwear to equipment for outdoor activities and sports.
24. Athleta
Insider Monkey’s Score: 25
Athleta is mainly known for producing apparel and footwear that is ideal for runners. The products are not only of high quality but also come at an affordable price. These key features make Athleta one of the best sportswear brands in the world.
23. Girlfriend Collective
Insider Monkey’s Score: 27
Girlfriend Collective is mainly popular among women. The brand uses recycled materials to produce its products. Additionally, the brand is also famous for its minimalist designs and innovative style options. The brand produces apparel for every size and shape, which makes it convenient for everyone to shop from Girlfriend Collective.
22. On
Insider Monkey’s Score: 28
Founded in 2010, On is highly appreciated and liked by customers due to its lightweight and high-quality products. On is known mainly for footwear ideal for running. The shoes are designed in a way that makes it comfortable for users to run or jog, making On one of the best sportswear brands in the world.
21. Hummel
Insider Monkey’s Score: 28
One of the oldest brands in the world, Hummel produces extremely high-quality products that also provide comfort to its users. The brand produces apparel and footwear for almost all sports including football, rugby, basketball, handball, and volleyball.
20. Sergio Tacchini
Insider Monkey’s Score: 29
Sergio Tacchini was founded by a famous tennis player in 1966. The product line of the brand includes T-shirts, polo shirts, and jackets that are considered to be extremely comfortable and airy. The products produced by the brand are of high quality and are known to be durable.
19. Ellesse
Insider Monkey’s Score: 29
The Italian sportswear brand, Ellesse is viewed as a luxury brand, primarily because of its high-quality, functional, and stylish products. The product line of the brand is so expansive that it caters to almost all sports athletes and fans. Over the years, the brand has collaborated with various fashion designers and sports celebrities, making it one of the best sportswear brands in the world.
18. Champion
Insider Monkey’s Score: 32
In recent years, Champion has regained its popularity, mainly because of its partnerships and endorsements with well-known artists, including Rihanna Fenty. The brand is known to be an ideal mix of fashion and sports, attracting many customers throughout the world.
17. Title Nine
Insider Monkey’s Score: 34
Headquartered in California, Title Nine is one of the best sportswear brands in the world as it produces products in different sizes, shapes, colors, and styles. The material used in its apparel products is also highly appreciated and liked by customers as it is of very high quality.
16. Free People Movement
Insider Monkey’s Score: 35
The sportswear products by Free People Movement are widely perceived to be vibrant and colorful mainly attracting women. Even though the brand is slightly expensive, it is extremely popular among customers because of its high-quality and durable products.
15. Converse
Insider Monkey’s Score: 36
The American sportswear brand, Converse, is known mainly for its innovation and adaptability. The brand consistently introduces new products and collections to match the demands of society and consumers. It also continues to influence customers through partnerships with famous artists.
14. Russell Athletic
Insider Monkey’s Score: 38
Founded in 1902 by Benjamin Russell, Russell Athletic is extremely popular not only because of its durable clothes but also because of its catchy logo. It is one of the oldest sports brands in the world and has a rich history as it began as a small-scale production for a college football team.
13. Oakley Inc
Insider Monkey’s Score: 38
Oakley, a brand known mainly for sunglasses, has shaped itself as a sportswear brand over time. Since Oakley has partnered with athletes to promote their sunglasses, customers associate the brand’s sunglasses with sports. In recent years, Oakley has expanded its product line to include athletic apparel, making it one of the best sportswear brands in the world
12. Columbia Sportswear
Insider Monkey’s Score: 39
Columbia Sportswear is mainly known to produce extremely lightweight and breathable jackets ideal for workouts and sports. Its product line mainly includes sportswear, outerwear, footwear, and camping equipment.
11. Salomon
Insider Monkey’s Score: 40
Salomon is a French Company founded by Francois Salomon in 1947. Since then, it has become a major sportswear brand, not only in Europe but around the world. The brand has outlets in approximately 40 countries and makes products for hiking, skiing, climbing, snowboarding, and trail running. Salomon is number 11 on our list of the best sportswear brands in the world.
Click here to continue reading and see The 10 Best Sportswear Brands in the World.
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Disclosure: None. The 25 Best Sportswear Brands in the World is originally published on Insider Monkey.