Unibail-Rodamco-Westfield (URW) has posted a notable surge in signings and store openings by various sportswear brands this year.
The company revealed, this year New Balance made strategic deals at both Westfield centres to introduce its new, cutting-edge store concept in the UK.
Additionally, Origin Kicks and Lids have also signed at Westfield Stratford City showcasing their sportswear offerings.
The signings follow continued growth in store upsizes for the category, for example, Footasylum, which upsized its store formats adding 9,000 sq. ft. to its retail footprint at Westfield Stratford.
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At Westfield London, Under Armour, and athleisure brand, Oysho both opened up new stores.
This builds on the major expansion of JD Sports’ flagship store at Westfield Stratford City which has begun this year and will eventually take the store to 45,000 sq. ft. by 2024.
“We’ve experienced a strong half year in retail leasing, primarily fuelled by a substantial demand for upsizing at both of our UK centres,” Unibail-Rodamco-Westfield UK leasing director Kate Orwin said.
“Major brands are increasingly investing in our prime physical locations to offer customers unique and captivating in-store experiences. This impressive growth has been further amplified by the addition of renowned brands like Sephora and New Balance to our portfolio.”
The news comes as the 2023 RetailX Global Sports Sector report revealed the industry saw a boost during the Covid-19 pandemic and now its growth has stagnated, kept afloat largely by fashion and athleisurewear.
Accounting for just 1.1% of global ecommerce, sports goods globally generated around $77.6 billion in online sales last year, marking it out as a highly lucrative sector within retail, the report stated.
However, the rise of ‘athleisure-wear’ during the pandemic has also been one of the most marked changes to reshape both the sports and fashion sectors in recent years.
A combination of sportswear and leisurewear, athleisure-wear was already a key trend pre-pandemic but the blurring of the work-home life balance saw its sales increase during 2020 and 2021.
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To view the research in full download the 2023 Global Sports Sector report, which lists who the largest 50 global sports brands and retailers are plus their performances.
