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  "documentTitle": "The State of Fashion 2025",
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      "text": "Fast-growing challenger brands are now expected to make up 57 percent of the sportswear segment’s economic profit, nearly tripling since 2020.",
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      "text": "KEY INSIGHTS: In 2023, sportswear grew faster than the broader fashion market in key regions, by 2 to 3 percentage points (%points) in China, 5 to 6%points in the US and 2 to 3%points in Europe. Fast-growing challenger brands are now expected to make up 57 percent of the sportswear segment’s economic profit, nearly tripling since 2020. Investors continue to be bullish on challenger sportswear brands, expecting their growth trajectory to be steeper than incumbents. Publicly traded challengers have seen significant share price gains from January through September 2024.",
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      "text": "EXECUTIVE PRIORITIES: Invest in product innovations, both in core franchises and when expanding into new categories. Product remains king. Double down on product marketing to convey the benefits of the innovations. It has become even more important to deliver sharp messages on specific product novelties to customers. Build partnerships with ambassadors at both macro and micro levels. Secure emerging athletes early, leverage celebrities for brand storytelling and tap into local communities for authenticity. Develop a clear distribution strategy with direct-to-consumer channels to drive engagement and storytelling, while strategically using retail channels to maximise reach and profitability.",
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      "text": "economic profit share: 57%",
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      "text": "Challenger brands are forecast to generate over half of the sportswear segment’s economic profit in 2024, up from 20 percent in 2020. This means the battle between challengers and incumbents in the growing sportswear market will likely intensify. To gain market share, brands will need to develop innovative products and use the right ambassadors and channels to activate unique brand stories.",
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      "text": "08. Sportswear Showdown",
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