Nike chief executive Mark Parker is banking on activewear fashion to double its sales to women and march toward USD50 billion in revenue in 2020.
The world’s largest sporting-goods company said its women’s business will double sales to USD11 billion in five years, while online sales will increase sevenfold to USD7 billion. The company’s total revenue forecast implies annual growth rates of about 10.3 percent. Sales rose 10.1 percent in the fiscal year through May 31 and 9.8 percent the prior year.
"We see this as not a fitness trend for women – that is, short term like a fashion trend – but we see this as a lifestyle shift," Parker said. "Active apparel will be here to stay for years to come."
(Source: The Sydney Morning Herald Online )