Weekly Newsletter - 11.21.2024

PLUS: Gymshark’s U.S. flagship launch plan revealed

Author

Priscilla Soedarpo
21 Nov • Estimated Reading Time: 6 minutes

THE LATEST IN ATHLEISURE NEWS

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On Running

On Running, the Swiss sportswear brand, is poised for a remarkable year, projecting sales to surpass 2.6 billion USD in 2024. This forecast marks a 32% increase from the previous year, underscoring the brand's robust growth trajectory. The company's recent third-quarter performance, with record revenues of 717.6 million USD, highlights its strategic prowess in the competitive athletic footwear market, where it stands alongside giants like Nike and adidas.

The brand's ascent is attributed to several key factors. Its visibility at the Paris Olympics, coupled with the success of On athletes, has significantly boosted global brand awareness. Additionally, the innovative LightSpray technology and collaborations with high-profile figures, such as Zendaya, have further cemented its market position. These strategic moves have not only doubled On Running's share value this year but also positioned it favorably against competitors, with Nike's shares declining by 29% and adidas's growing by 21%.

Martin Hoffman, co-CEO and CFO, emphasizes the brand's commitment to innovation and excellence, particularly in its direct-to-consumer (DTC) channel. This focus has enabled On Running to exceed sales and profitability expectations, setting a strong foundation for future growth. As the holiday season approaches, the company remains confident in its ability to shape the future of sportswear, driven by a relentless pursuit of excellence and market leadership.

Nike's Jordan Brand faces challenges as its popularity wanes, with oversupply issues and declining demand. Sales growth has slowed, and management plans to reduce distribution to realign demand. Despite setbacks, Nike remains a top brand, focusing on innovation to regain market share and address execution missteps.

Brands are gearing up for a mobile-first holiday shopping season, with mobile purchases expected to drive 53% of online sales. Companies like Therabody and Barriere are optimizing their digital experiences, focusing on quick-pay options and streamlined checkout processes to capture the attention of multitasking consumers.

JD Sports

JD Sports’ new holiday campaign celebrates diverse family gatherings, moving away from traditional holiday depictions. Featuring celebrities, it highlights authentic connections. The campaign coincides with JD's record financial growth, particularly in North America, showcasing its expanding market presence and innovative approach to sports fashion and lifestyle retailing.

B2B marketing can benefit from humor, making brands memorable and relatable. By gradually incorporating humor, understanding your audience, and staying current with trends, you can enhance engagement and brand recognition. A strategic, outcome-based approach ensures humor aligns with brand values, fostering creativity and deeper connections with decision-makers.

Gymshark, a U.K.-based fitness brand, has opened a pop-up store in SoHo, New York, as a precursor to its first U.S. flagship store planned for 2025. The pop-up offers exclusive merchandise and festive features, reflecting New York's strong fitness culture and Gymshark's community-focused retail experience.

ROA and Tilak have collaborated to create a four-piece capsule collection, combining ROA's fashion-forward style with Tilak's Czech craftsmanship. The collection includes three jackets and a skirt, made from durable materials like GORE-TEX. This partnership highlights their shared vision for high-performance, contemporary outerwear.

OEG Sports & Entertainment has launched ICETOM, a new online marketplace in Canada, offering a wide range of active lifestyle apparel and accessories. Featuring top brands like Adidas and Nike, ICETOM aims to simplify shopping for Canadians by providing a convenient, secure platform for discovering popular and emerging brands.

Advertisers and creators are enhancing performance on YouTube and Reddit by focusing on authenticity and trust. Reddit users value learning and diverse opinions, while YouTube offers creators new ad partnership tools. Brands can improve engagement by aligning content with user interests, leading to higher conversions and consumer trust.

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