General economic conditions

Global economy

According to the winter forecast published by the Kiel Institute for the World Economy (ifw Kiel) on 12 December 2024, the global economy only expanded at a very moderate pace in 2024. The experts at ifw Kiel expect global gross domestic product (GDP) to have risen by a total of 3.2% for financial year 2024. The growth rate over the past year is therefore slightly above the forecast of 2.9% (ifw Kiel winter forecast published on 13 December 2023). While the United States economy continued to expand strongly in 2024, production in the other advanced economies recorded only a negligible increase. Expansion also remained subdued in China in 2024. Although inflation slowed during the course of the year, the decline in inflation stalled from mid-year onwards.

Sporting goods industry

The sporting goods industry was faced with various challenges in 2024, which contributed to a difficult and volatile market environment. Industry development was therefore impacted by persistent currency headwinds, a promotional market environment and muted consumer sentiment globally. We assume, based on the Euromonitor report, that the currency-adjusted growth in the sporting goods industry was 1.8% in 2024.

The major sporting events that took place in 2024, such as the Summer Olympics in Paris, the UEFA Euro 2024 football championship in Germany and the Copa América, South America's continental football championship, in the United States, had a positive impact on the sporting goods industry. We also assume that sporting activities and an increasingly healthy and sustainable lifestyle will continue to gain in importance for a growing proportion of the world's population. This, among other things, will further boost the popularity of athletic footwear and leisure/athletic apparel as an integral part of everyday fashion (‘athleisure’). ‎