Golf Apparel Market Analysis, Size, Share, Trends & Growth Projections Studied during 2017-2026

Golf Apparel Market Analysis, Size, Share, Trends & Growth Projections Studied during 2017-2026

Increasing popularity of golf across the globe has led to a rise in participations in the particular sport. Moreover, growing viewership of pro-golf tournaments is resulting in more individuals taking up the sport.  This is falling brightly on the global demand for golf equipment and apparels. According to the latest report published by Fact.MR, the global golf apparel market is set to surpass a valuation of US$ 6,600 Mn by the year 2026. There has been a steady growth in golf enthusiasm among the youth population. A sports that was previously marked by elitism is now attracting the general classes of the society.  For instance, The 2017 PGA merchandise show – a trade-only event for qualified golf industry professionals held at Orlando U.S.A recorded overwhelming attendance. Over the years, a large number of courses have mushroomed, allowing more youth participation. The sport also graced the 2016 Rio Olympics after nearly a century of nonappearance. With golf courses becoming more accessible, the participation number is also going up. The aforementioned factors are reflecting favourably on the global golf apparel market.

Among regions, the market in North America will continue to dominate the global golf apparel market in 2017 and beyond. The golf apparel market in the region currently commands for the largest revenue share and is projected to grow at a steady pace during the forecast period (2017-2026). Golf is a prominent sport in the region and account for high viewership as well as participation in both the U.S. and Canada. Moreover, a strong presence of market players is further supporting the growth of the market in North America.

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Demand for golf shoes is relatively higher as compared to other golf apparels. Global sales of golf shoes currently accounts for around 38% of the overall market revenue. This is primarily owing to innate nature of the sport that makes golf shoes compulsory for participation. Towards the end of 2026, more than US$ 2,400 Mn worth golf shoes are expected to be sold worldwide.

Global sales of men’s golf apparels are expected to remain relatively high during the forecast period. In terms of revenue, sales of men’s golf apparels globally represents for a significant share of the market and the trend is likely to continue over 2026. High number of male participation is one the major factors driving the demand for men’s golf apparel.

On-course outlets will remain one of the largest sales channel for golf apparel during the assessment period. Owing to a strong customer exposure and location advantage on-course outlets is expected witness higher sales then other sales channels in the near future. Close to US$ 1,261.7 Mn worth golf apparels are estimated to be sold through on-course outlets by 2026-end.

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Fact.MR in its report has profiled some of the prominent companies operating in the global apparel market namely Adidas AG, NIKE, Inc., Under Armour, Inc., Callaway Golf Company, ASICS Corporation, Amer Sports Corporation, MIZUNO Corporation, Kering S.A., Ralph Lauren Corporation, and Fila Korea Co., Ltd. Many of these companies are actively focussing on enhancing product design and offering tail-made options to customers.

Key Insights from the Report Include:

In terms of revenue, North America will continue to dominate the global golf apparel market in 2017, and the trend is expected to continue over the next couple of years. Further, the market in the region is projected to exhibit a CAGR of 3.3% over the forecast period.

On the basis of product type, the shoes segment is expected to remain highly lucrative throughout the assessment period. Currently, the segment command for more than one-third share of the market and is projected to expand at a modest rate. The segment is set to increase by US$ 125.6 Mn annually over the course of the forecast period.

By gender, the men segment in will continue post a relatively higher revenues share over 2022. The segment currently commands for over 65% market share in terms of revenue and is expected to exhibit a steady CAGR between 2017 and 20226.

Base on sales channels, the on-course outlets segment is expected to hold a leading position. The segment is expected to surpass a valuation of US$ 1,200 Mn towards the end of assessment period, reflecting an above-average growth.

On the basis of buyer type, the individual segment is anticipated to retain the top spot over 2026. The segment is projected to soar at 3.9% CAGR during 2017 to 2026 and reach a market valuation in excess of US$ 4,300 Mn.

[“source=theswisstimes”]

Suzuki Motorcycle India reveals accessories list for Gixxer SF & Gixxer SF 250

At a recent event, Suzuki Motorcycle India launched two new fully faired bikes. The 155cc Gixxer SF was already available, but gets a new styling. The Gixxer SF 250 is the company’s domestic foray into the quarter-litre segment.

Suzuki is now offering a list of accessories to complement the new bikes. Most of these accessories are for aesthetic purposes, but some are functional too. The list includes tank graphics, wheel rim stickers, Suzuki branded seat covers, a smoked visor to replace the standard clear one, tank protector and a DC power socket for when you are touring. All accessories are optional and need to be purchased separately.

Suzuki Gixxer SF accessories

As for the bikes, the Gixxer SF undergoes significant styling and mechanical changes to meet the upcoming Bharat Stage-VI (BS-VI) norms. The bike is powered by a 155cc air-cooled single-cylinder engine producing 14.1 PS of power and 14 Nm of peak torque. It gets a new clip-on handlebar assembly, all-LED headlamp and a change in the fairing design.

The Gixxer SF 250 is powered by a 249cc SOHC oil-cooled motor churning out 26.5 PS at 9,000 rpm and 22.6 Nm at 7,500 rpm. Transmission is handled by a six-speed gearbox. Suspension comes via conventional telescopic front forks and a rear monoshock, while disc brakes with dual-channel ABS provides stopping power. Suzuki has also confirmed that the naked version of the Gixxer SF 250 will be available in coming months.

The Suzuki Gixxer SF is now available at a price of Rs 1.09 lakh, while the Gixxer SF 250 can be bought for Rs 1.7 lakh (ex-showroom, Delhi).

[“source=moneycontrol”]

Reliance plans major expansion of its fashion stores & integrate them with its online business

Reliance plans major expansion of its fashion stores & integrate them with its online businessReliance Industries plans to grow the number of low-cost Reliance Trendsfashion stores across India to 2,500 from 557 over the next five years and integrate them with its online business, two people briefed on the plans said.

The expansion, which has not been reported before, is the latest move by the conglomerate’s billionaire owner Mukesh Ambani to grab a dominant share of Indian consumer spending in a struggle with rivals, particularly e-commerce giants Amazon and Walmart’s Flipkart.

Reliance’s plans to diversify into e-commerce and expand in fashion come on the heels of India’s new foreign investment curbs that have dealt at least a temporary blow to Amazon and Flipkart.

Prime Minister Narendra Modi’s government in December modified foreign direct investment rules for e-commerce, barring online retailers from selling products via vendors in which they have an equity interest, and also from making deals with vendors to sell exclusively on their platforms.

Ambani, Asia’s richest man, founded Reliance Retail in 2007 to transform his petroleum behemoth into a consumer-facing conglomerate.

Targeting 300 cities

Expectations that Ambani will increase bets on retail have been growing, and the latest plan was presented at meetings earlier this year, the sources said, citing proposals the company shared with retail advisors. Reliance Retail did not reply to an email seeking comment.

The expansion plan should allow Reliance Trends, which sells accessories as well as clothing, to rapidly grow its private labels – the retailer’s own brands – the sources said.

Reliance Trends would be in 300 cities in five years, from 160 now, said the second person briefed on the plan.

A Reliance executive, speaking on condition of anonymity, said integrating the availability of private labels with its e-commerce venture and penetrating deeper into smaller, tier 3 and 4 cities is the next level of growth for Reliance Trends. The executive did not confirm the store expansion plan.

Last year, Reliance Trends opened over 100 stores, according to the executive. “With the new commerce venture that we have planned, it will even be easier to sell our private labels from even third-party stores,” the executive said.

Ambani’s so-called “new commerce” venture aims to connect small and mid-sized merchants with his retail network and warehouses, helping them better manage inventory as well as boost sales of Reliance’s private labels.

Both the sources declined to be identified as the plans have not been publicly announced.

Cheap prices for India’s youth

India has the world’s largest population in the 18-35 year age group at 440 million people, constituting nearly half of its workforce, global consultancy Deloitte said in a recent report. With rising use of the Internet and smartphones, e-commerce retailers have doled out discounts to lure people to shop online for goods as varied as basic groceries and large electronic devices.

“The millennial opportunity is what every retailer is looking at. Reliance is no different,” said a retail industry veteran and independent advisor to several retailers.

Retailers tend to make better margins out of their own brands than third-party brands because they can keep a much sharper eye on costs of production and associated marketing.

“Reliance Trends’ aggressive expansion will see products such as private labels available across multi-brand outlets and smaller format stores as well,” said independent retail consultant Govind Shrikhande when asked how Reliance will manage the aggressive expansion.

Almost 80% of Reliance Trends’ revenue comes from private labels. A team of designers work across seven centres in India and one in London to design items such as jeans, trousers, shirts and t-shirts, the company executive said.

“They are looking at global fashion and then they are looking at how that fashion can be adopted for India at a price which is affordable to churn out our private labels,” said the executive.

[“source=tech.economictimes.indiatimes”]

Streetwear Designer Benny Gold Closes His Store and Heads to Goodby, Silverstein & Partners

Over the past 15 years, Benny Gold became one of the premier streetwear designers in San Francisco by parlaying his fame as a skateboarder into his own eponymous brand of shirts, hats and outerwear. His flagship Valenica Street shop became a tourist destination and mainstay of the city’s historic Mission District.

But this week, Gold surprised the Bay Area skate community and his thousands of social media followers with the news that he would be closing the store and ending most production on the brand.

Why? To make a midcareer pivot to advertising.

Gold has joined Goodby Silverstein & Partners as a designer. He will report to award-winning GS&P design director Ryan Self, who is himself a recent transplant from MullenLowe London having joined the Omnicom agency in a wave of 2018 hires following new business wins including Pepsi, BMW and Liberty Mutual.

In a statement to Hypebeast that was republished as a personal letter to followers this week, Gold wrote that he made the move primarily to take on new creative challenges.

“I would rather bring [the brand] to a close and celebrate it’s life with integrity rather than push it to become something I no longer believe in,” the note read. Gold added, “I am a graphic artist at heart and all I’ve ever wanted to do is create meaningful things, which is why I’m thrilled to join GS&P.”

The brand will not disappear, however, even if the recently released line will be its last full collection.

The Benny Gold digital store will live on as its founder continues to produce limited-edition specialty products.

Gold’s best-known designs among skate and sneaker aficionados include the 2006 Nike “Huf quake” series, which was created to commemorate the centennial of the 1906 San Francisco earthquake, as well as logos for streetwear publisher Highsnobiety and coffee brand Four Barrel.

Beyond Nike, Gold has produced work for brands including Adidas, Teva, JanSport, Red Wing Shoes and Miller High Life.

“As a fan of graffiti art, I’ve admired Benny’s work over the years,” said GS&P chief creative officer Margaret Johnson. “He will immediately bring an incredible artistic dimension and intimate understanding of urban culture to GS&P.”

[“source=adweek”]

No liquidity crisis in any segment barring gems & jewellery sector: Satish Marathe

Barring the gems and jewellery sector, there is no liquidity crisis for any segments in the economy, Satish Marathe, the government-nominee member on the central board of the Reserve Bank, said on November 29.

He also said the spike in the cost of funds is due to an increased risk perception, and not due to lack of liquidity in the system.

It can be noted that different perceptions about liquidity were one of the key triggers for the recent public spar between government and RBI, with the former calling for special windows for the affected sectors like NBFCs, MSMEs among others and the latter not heeding to it.

The issue reached such a flash-point that government initiated a never-before-used Section 7 of the RBI Act to formally direct central bank to implement its instructions but at the November 19 board meeting both the sides climbed down averting a major crisis.

“Concerns were being expressed about lack of liquidity, but no one is shouting for liquidity today,” Marathe, who comes from the co-operative banking sector, said speaking at a seminar at the Mumbai Marathi Patrakar Sangh here this evening.

He claimed that during the past 15 days, the situation has improved and the only problem is the increase in interest rates, as the cost of funds has gone up from 7 percent in recent past to 8 percent now.

Non-bank lenders used to get support from bodies like mutual funds and insurance companies “easily” earlier, he said, talking about the change in the current scenario.

“The only one sector that has some problems due to liquidity is gems & jewellery. Hopefully, banks will release more money to the sector. If money is not released, then it will be difficult to get exports,” he said.

It can be noted that the government has repeatedly complained about lack of liquidity and sought special interventions from RBI in the run-up to a crucial meet of the central board last week.

In fact, one of the key points among the 12 points agenda that the government had listed in the three letters North Block shot off to the RBI by October 10, was liquidity crunch being faced by NBFCs, MSMEs in particular and the overall system in general.

Marathe said macroeconomic fundamentals are strong enough with fiscal deficit and current account deficit being under control. Our forex reserves are the sixth largest in the world and are sufficient to take care of 10 months of imports, he said and exuded confidence that the rupee will appreciate to 65 against the dollar.

He said headline inflation will narrow to 3.50 percent by November or December.

[“source=gsmarena”]

Dolce & Gabbana’s Brand Reputation ‘In Rags’ Over China Ad Outrage

Pedestrians are reflected in a mirror as signage for Dolce & Gabbana Srl is displayed at the company’s store on Canton Road in the Tsim Sha Tsui area of Hong Kong, China. (Photocredit: Billy H.C. Kwok/Bloomberg).© 2015 Bloomberg Finance LP

Trust matters. And, with Dolce & Gabbana (D&G), the Italian luxury fashion house, having its products withdrawn from Chinese e-commerce sites as a backlash grows against a controversial advertising campaign showing videos a Chinese model struggling to eat pasta and pizza with chopsticks, one wonders what Milan-based D&G was actually thinking.

China represents one of the biggest luxury markets globally. Indeed, according to a recent report by the consultancy Bain & Company, the luxury goods market in mainland China has been forecast to grow by 20%-22% this year, with the country accounting for the bulk of the global growth this year that has been put at 6%-8% and reach €276-€281 billion (c.$313-$319 billion).

And, by 2025 that number could swell to $390 billion (c.$442 billion), the Bain & Company study has posited. Hardly small fry.

Now this all rather resonated with me as this past week I was in Milan, the fashion capital of Italy, and one of the so-called “Big 4” along with New York, Paris and London, attending an event focussed on corporate communications and branding.

It is not the first time D&G has courted controversy. D&G sparked controversy in 2016 when it described an item of footwear in its spring/summer collection a “slave sandal.”

And, last April the brand posted a campaign on Weibo, which depicted impoverished people in run-down areas of Beijing pictured with D&G models ahead of a catwalk show in the city. The images were slammed for stereotyping Chinese history by showing old parts of the city, as opposed to more modern depictions of Beijing.

Local celebrities had called for the brand to be boycotted amid brand crisis deepening when messages allegedly written by D&G co-founder Stefano Gabbana, which included dubious and offensive comments about Chinese people, went viral.

[“source=forbes]