Apparel Online Bangladesh Magazine January Issue 2019

FASHION BUSINESS - 2018 < < Performance & Sportswear << < < Sleepwear << T he appetite for sportswear’s sub-trends like athleisure, streetwear, athluxury and now performancewear has come to be seen as absolutely insatiable for consumers worldwide. According to a research on the Global Sportswear Market, the projections suggest a strong growth of CAGR of 5.80 per cent from 2018-2023. It is clear that sportswear isn’t just big business, but is practically serving as the crutch for the fashion industry’s speedy recovery. Looming closer home, this wellness trend is not wasted. Capitalising on an enormous population base, growing disposable incomes, a growing culture of casual workplaces as well as a rising consciousness for health, sportswear retailers have built a strong base in the country. Add to this the popularity of activities such as trekking, hiking, and yoga amongst the youth; there is a market for every type of activewear brand in the Indian subcontinent at present. According to Euromonitor International, the Indian sportswear segment showcased a staggering 23.7 per cent CAGR from 2011-2016 while the forecast for 2016-2021 predicts 11.3 per cent growth (and looking at the landscape, it is clear that the future of this market is not limited to branded giants). Smaller brands are filling the gaps for more localised demands, working on indigenous issues like sizing and have a much quicker response rate or sensitivity to changing consumer lifestyles. V alued between US $ 30 billion and US $ 40 billion globally, sleepwear has emerged as a major category. It cited 18.8 per cent growth last year – which perches it among other top categories, such as activewear (recording 18.2 per cent growth) and footwear (recording 15.9 per cent growth). For 2018, transitional sleepwear – one that doubles as nightwear and loungewear, has posed as a competitive business opportunity for retailers and brands alike. The silhouettes shy away from traditional pyjama styles towards more structured pant style pieces, in fabrics such as cotton and satin – making comfort their focal point. Opportunity is also ripe for the bridal sleepwear segment. Observing an upward curve online, the bridal nightwear category boasts of a market share boost of 4 per cent in the last two years. www.apparelresources.com | January 2019 | Apparel Online Bangladesh 69

Apparel Online Bangladesh Magazine January Issue 2019 | Page 69