Thursday, November 28, 2024
GoSaferSecurity
HomeFashionLuxury & streetwear collaborations reshape global sportswear industry

Luxury & streetwear collaborations reshape global sportswear industry

The growing trend of collaborations between luxury and streetwear brands is the key factor behind the transformation of global sportswear market, according to the latest Sportswear Insights report by Launchmetrics. Such partnerships, including the noteworthy Gucci x Adidas collaboration that generated $96.5 million in media impact value (MIV) in 2022, offer immense potential for brands.These collaborations maximise return on investment, increase brand exposure, and tap into new audience demographics, as per the report.

Luxury-streetwear collaborations are transforming the global sportswear industry, maximising ROI and exposure, as per a recent report by Launchmetrics.
Brands are focusing on inclusivity, representation, and sustainability.
However, sustainability topics only represent 1 per cent of sportswear media impact value, indicating potential growth.

As part of this reshaping, sportswear brands are increasingly embracing inclusivity and representation, highlighting the empowerment of women in traditionally male-dominated sports and celebrating diverse communities, including Black, Indigenous, and people of colour (BIPOC) women. These efforts resonate with consumers who prioritise inclusivity, strengthening brand loyalty in the process.

While celebrities continue to hold significant influence as voices in the sportswear industry, partnerships with other voice types, such as owned and partner voices, are becoming increasingly prominent. Micro-influencers, in particular, are witnessing a significant rise in their influence.

On another front, sustainability is emerging as a critical focus for sportswear brands. Notable initiatives, such as Adidas’ ‘End Plastic Waste’ and Nike’s ‘Run for the Oceans’, have garnered considerable attention and engagement. However, there’s room for growth in this area, as sustainability topics currently account for only 1 per cent of all sportswear-related MIV.

Fibre2Fashion News Desk (DP)

source

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!
- Advertisment -
GO Safer Security

Most Popular

Recent Comments