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The Apparel market, according to an estimate by Brand Finance, has Nike, Adidas, Gucci, Louis Vuitton and Zara as its main competitors.
A study that Statista makes exclusively to its members revealed that the value of the sportswear market will reach revenues of 918 million dollars this 2022.
Nike has become one of the leading brands in the market, due to the ability to innovate that it has so far.
The nike store has finally been shown to the consumer and, days after its opening was announced, the promotion of the shopping experience inside it was finally revealed with two insights very powerful; the firstcompetition with high-cost brands such as gucci Y Louis Vuitton; Y secondis a direct competition to concepts that Zara and Amazon have established with tremendously digitized stores.
This growing trend has a common denominator, the growth of the premium marketwhere the high cost of garments manufactured in maquilas conquers a consumer who makes use of these casual style garments and taking a key aspect in it, which is to better integrate the consumer in the market that consolidates the high cost- high quality (at least in design).
Fashion and its strategic paths
Fashion has run into a market of 33 thousand 176 million dollars, that is the Estimate in brand value Brand Finance gave to Nike this 2022 and that has become a key scheme to understand why it has opened a store called Nike style.
Behind the American firm are Louis Vuitton, with a value of $23 billion; Gucci, $18 billion; chanell, $15 billion; Adidas, $14 billion and Zara, $12 billion.
The most logical question that comes to our mind with this list is what are luxury brands like Gucci and Vuitton doing on a list of clothingthat is, clothes? The demand for clothes premium made up by brands such as the Italian gucci or the French Vuitton has normalized its appearance in listings that value brands for their weight in clothing and not in luxury.
The latter has evidently motivated brands such as Zara to launch concepts such as Massimo Dutti Studio, a brand in which it evolved Uterqüe and that is already on sale in Mexico, with silks, leathers and designs that guarantee the price-high quality ratio that has been established in this market.
With this in mind, it was to be expected that Nike would bet on a store model, with garments of casual and urban designs, which come out of the common place of this brand, which is sportswear or sponsorship for teams in this industry.
There is no doubt that there is a great commitment to the clothing market premiumwhich even has led Amazon to debut its Amazon Fashion conceptwhich consists of a tremendously digitized store, like the one Zara opened in Spain, where you can do webrooming and showrooming indiscriminately and, most importantly, buying clothes from designers signed by Amazon.
Nike Style Store, the clothing is renewed
The clothing has a key concept in its market evolution and it is the demand for design that the consumer has begun to make of this segment. There is a key logic in its operation within the market and is the value that the garments have acquiredto ensure that luxury brands such as Gucci, Vuitton or Chanel no longer only list in this exclusive market, but now do so in clothing and share a place with brands such as Zara, H&M, Nike or Adidas, which are rapidly adjusting their sales concept, to launch zero-waste garments on the market and consolidate the premium segment, where used designs and materials are key.
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