Rich Chinese turn to sportswear

Wealthy Chinese have turned their attention from luxury goods and expensive branded fashion to sportswear. If you have made it in China, you provide proof of your wealth by wearing exclusive GPS sport watches, compression leggings and hydration packs.

Reuters reports that the rich of China have found their new must-haves. With their money, they are pumping up the multi-billion dollar sportswear industry, at the expense of the traditional luxury fashion brands. Now that the 2022 Winter Olympics in Beijing are nearing, extreme sports apparel and expensive active wear are becoming in vogue. Another reason the sportswear market is growing is change of the one-child policy.

International brands like Under Armour and Lululemon Athletica are tapping in on the new trend. So is Hong Kong-headquartered Pure Group, an operator of gyms, yoga, retail and nutrition businesses. There is government support for the new trend. As part of its promotion of sport and healthier living generally, the government says that by 2025, more than 900,000 stadiums and gyms will have been built across the country.

Further reading on reuters.com

Image by kris krüg

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