Technavio has announced the top five leading vendors in their recentglobal sports luggage market report. This market research report also lists 14 other prominent vendors that are expected to impact the market during the forecast period.
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Technavio has published a new report on the global sports luggage market from 2017-2021. (Graphic: Business Wire)
Competitive vendor landscape
According to the research analysis, the global sports luggage market has multiple established players, which makes it a slightly fragmented market. The market encompasses few international and many local players. Product innovation is expected to be a key trend in the market during the forecast period. These competitors compete on many different factors, including price, quality, brand, and variety. The companies have their presence both in physical stores and online sales portals.
"Different companies have incorporated different omnichannel strategies in their business model to compete with brick-and-mortar retailers and e-retailers. The acquisition of new brands will help leading competitors maintain their dominance in the global sports luggage market during the forecast period. The practice of sustainability is essential for future production and is well-applied by major competitors and other prominent competitors," says Narendra Nandaigari, a lead analyst from Technavio for research on luggage
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Technaviomarket research analysts identify the following key vendors:
adidas
adidas and its subsidiaries engage in the design, manufacture, and marketing of athletic and sports lifestyle products, including bags, across the world. It is one of the largest sports goods manufacturers in Europe and in the world. The company is involved in sustainable manufacturing processes. Its environment-friendly approach addresses water efficiency, quality, and accessibility. It also encourages the use of more sustainable materials like better cotton, recycled polyester, and ocean plastic. adidas also makes efforts to reduce its energy consumption, make the transition to clean energy, and use energy for harvesting opportunities.
Nike
Nike designs, develops, markets, and sells athletic and fitness footwear, apparel, equipment, and accessories for men, women, and kids worldwide. Its brands include Nike, Converse, and Hurley. The company focuses on improving its top line performance by continuously investing in new business initiatives. In January 2014, the company released an updated version of the MAKING app, with additional features and a range of additional materials commonly used in sports equipment. The company anticipates significant growth in the future by implementing such strategic initiatives.
Under Armour
Under Armour manufactures and markets apparel, footwear, and accessories for athletes, professionals, and others. The company offers duffle bags, trolley bags, backpacks, bat packs, and cart bags. The company has partnered with big brands to expand its market share, which includes First Scout Productions, MedStar Sports Medicine, Durham Capital, and Maryland Sports. The partnership ensures greater visibility among consumers in the market.
VFC
VFC provides branded lifestyle apparel, footwear, and related products for all ages in the US. It mainly operates through five business segments, namely, outdoor and action sports, jeanswear, imagewear, sportswear, and other contemporary brands. Some of the key brands of the company include 7 For All Mankind, Ella Moss, Bulwark, Red Kap, Chef Designs, Horace Small, Lee, Majestic, Nautica, JanSport, and Eagle Creek. Nautica and Kipling brands of VFC design sports bags.
YONEX
YONEX is a key manufacturer of sports equipment and accessories. It manufactures and sells equipment for golf, tennis, and badminton. The company offers racket bags, shuttle bags, ball bags, and all-in-one bags as part of its sports luggage segment. The company has more than 11 brands operating under its name. Its brands are sold in over 150 countries through 47,000 retailers in all channels of distribution, which include mass, department, and specialty retailers.
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