(From Business Insider)
The athleisure fashion trend, in which people wear athletic clothing outside of the gym, is rapidly growing in China.
More Chinese consumers are wearing this apparel at the office or while shopping, and brands such as Nike and Adidas are at the forefront of this trend.China’s recent anti-corruption campaign and an increase in the broader Chinese fitness industry are the two pillars supporting this growing trend.
Chinese President Xi Jinping is focusing on eliminating corruption in the government, specifically by restricting the consumption of traditional luxury goods by public officials.This has caused consumers to also avoid these brands and instead spend their money on brands that are just breaking into this space, such as Nike and Adidas.
At the same time, China’s fitness industry has grown by about 84% with approximately 3,000 new gyms opened in the last five years, reports fashionista.com. This has spurred demand for western sporting goods brands, which are becoming more popular as Chinese consumers seek out products they can buy without political repercussions.
Nike and Adidas have been expanding into China to capitalize on the rising athleisure trend, and their sales are rising as a result. Nike’s sales in Greater China increased between 27% and 35% from September 2015 to April 2016, according to Bloomberg. Adidas’ sales in the region climbed 38% to $2.97 billion during 2015. Read more