Lululemon Is Replacing Luxury Goods This Time To Set Off A Sports Frenzy.

Wealthy Chinese consumers are becoming less interested in traditional luxury goods. Sports watches, tights and other high-end sports equipment have become their favorite.

Billions of dollars.

The field is booming.

According to road reports, China Wanda last year spent $650 million to buy World Triathlon Corp, the owner of the triathlon Ironman. China will host the first Ironman big iron tournament this year.

In fact, in recent years, the fitness craze has been popular in China. According to the China Athletic Association data, in 2015, the country organized 134 marathons altogether, an increase of 160% over 2014.

As part of promoting sports and healthy life,

The government said that by 2025, there will be more than 90 gymnasiums and gymnasiums built throughout the country.

American professional sportswear brand Under Armour and Canadian Yoga apparel brand Lululemon have developed quite well in the European and American markets, while China has provided them with an excellent opportunity to expand their skills outside the European and American markets.

Under Armour, the second largest sports apparel brand in the US, predicts that sales in China will grow rapidly by 25% annually from now to 2018, while Lululemon's first store in Hongkong is expected to reach US $8 million this year.

But they also face strong local competitors, such as Anta, XTEP and 31st degree, which last year surged 34%~56%.

An ordinary GPS in Hongkong

The price is 2000 Hong Kong dollars, if the top brands are close to 4000 Hong Kong dollars, the average price of a stretch sports pants is 900 Hong Kong dollars.

Gu Xiaojiang, 36, who works in Shanghai and is a fanatical marathon enthusiast, said: "most of my expenses are on sports shoes and sports watches.

From the cost point of view, excluding pportation costs, I spend 1000 yuan a month.

But if I have a car, I think there will be more expenditure. "

For those who want to look very athletic, but do not want to sweat and exercise, "sports and leisure wind" is their gospel.

The dress, which combines sport and leisure style, began to sprout up in the United States (and gradually spread to the whole world). Even in offices and other formal occasions, clothes were also without any violation.

China's economic slowdown has dropped to its lowest level in 25 years, and the government's anti-corruption campaign has forced Chinese affluent people to change their spending habits.

The money that used to be spent on French red wine and leather goods in Italy has now turned to high-end heart rate test watches and sports running shoes.

Euromonitor, the market research firm, predicts that by 2020, the size of the Chinese sportswear market will exceed the luxury market: the sportswear market will grow in double digits every year to 280 billion 800 million yuan in 2020, while the luxury market will grow by one digit per year and 192 billion 400 million yuan by 2020.

By contrast, by 2020, the European sportswear market had reached US $64 billion (about 417 billion 100 million yuan).

According to Oriental Patron Research, sports equipment accounts for only 0.67% of China's gross domestic product, compared with 2.2% in the EU and 3.5% in the United States.

That is to say, the field of sports equipment has just started in China.