Growth has slowed in the market for yoga workout gear as Chinese consumers pivot to other brands and activities
China’s yoga apparel market is grappling with fierce competition and slowing growth amid sluggish domestic consumption, as middle-class shoppers diversify their activities, according to analysts.
Lululemon’s same-store sales growth at sampled Chinese shopping malls dropped 4 per cent year on year in May, compared with a 3 per cent decline in April and a 6 per cent fall in the first quarter, according to data from Shanghai-based consulting firm Meritco Services.
“Competition in the yoga apparel segment has intensified,” said Sammi Xu, Deutsche Bank’s head of China consumer discretionary research.