In 2023, the women’s sportswear sector in Australia experienced a 7 per cent year-on-year increase in retail value, surpassing the overall apparel market. As per Euromonitor International’s Passport Apparel and Footwear system, the sector achieved a compound annual growth rate (CAGR) of 10 per cent from 2019 to 2023, underscoring its robust growth potential.
Euromonitor International research analyst Icey Huang attributes this boost to the Paris 2024 Olympics, which marked the first Games with full gender parity, drawing significant attention under the ‘#GenderEqualOlympics’ hashtag. Huang shared, “This focus on advancing women’s participation in sports has positively impacted the Australian fashion industry, particularly the sportswear sector.”
Throughout the past year, brands have enthusiastically supported women’s sports through various initiatives. For instance, in 2023, Rebel partnered with the Matildas, Australia’s national women’s soccer team, and became an official partner of the Australian Rules Football women’s league. Rebel also introduced the Rebel Rookies program to engage children aged 6-12 in sports, featuring international football and Australian Rules.
Australian period underwear brand Modibodi partnered with Puma on the Change Room initiative to support women and girls in sports despite menstruation. For the Paris Olympics, Australian brands Sportscraft, Volley, and July were selected as official designers for the Australian Olympic Team, while The Iconic launched a marketing campaign featuring five active athletes.
Globally, Euromonitor International projects that the sportswear market will benefit from the Olympics’ global television audience and sponsorships, forecasting a 4 per cent growth in 2024 compared to 2 per cent for the overall apparel and footwear market.
Marguerite Le Rolland, head of apparel and footwear at Euromonitor shares, “We expect the event to boost global sales of women’s sportswear as brands increasingly target this traditionally underserved demographic.” In 2023, women’s sportswear accounted for US $ 143 billion (A$220 billion) globally, representing 36 per cent of all sportswear sales, with a faster growth rate than men’s sportswear from 2018-2023 (5 per cent vs. 3 per cent CAGR).
link