The fashion industry is currently experiencing a period of nostalgia: the fashion of the 90s is returning, and although the time for platform shoes and sneakers is over, the Italian Fila and American Champion are reviving their heyday, CNBC sums up.
“The retro trend of the 90s is now very upbeat, with Fila and Champion at the center of it, ”said Matt Powell, a senior analyst at New York-based research firm NPD Group.
Between 2016 and 2018, Fila’s sales increased 205 percent from $ 821 million to $ 2.51 billion. Fila Korea became the global headquarters of the brand in 2007 after acquiring the rights to the brand. Fila products are currently sold in 70 countries around the world
Champion had sales of $ 1.36 billion in 2018, compared to $ 1 billion in 2017. The company has nearly 150 stores worldwide, most of them in Europe.
While big brands like Nike and Adidas have also grown, Fila and Champion have produced stronger growth than the industry itself, Powell concludes.
Instead of following market trends, Champion and Fila retained their 90s style and developed a more sophisticated brand strategy. At the same time, defining the style of clothing worn by members of different youth subcultures plays a key role, explained Kayla Marci, a market analyst at Edited.
“Trends inspired by street style and nostalgia continue their long careers,” Marci added.
Streetwear is currently estimated at over $ 100 billion, with 71 percent of millennium and Generation Z members wearing such clothing, according to a PwC 2018 report.