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Daily Newsletter

22 July 2024

Daily Newsletter

22 July 2024

Lululemon urged to commit to clean energy amid greenwashing lawsuit

Several Olympic athletes have signed a joint letter to the CEO of Canadian sports brand Lululemon urging him to commit to clean energy a week after a consumer submitted a class action lawsuit against the retailer's alleged "misleading' Be Planet campaign.

Laura Husband July 22 2024

Lululemon is being urged to address its clean energy credentials ahead of the upcoming Olympic Games in Paris where it is sponsoring the Canadian team. Credit: Shutterstock.

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Luxury Apparel Market Overview

Per GlobalData, the luxury apparel market was valued at $201.6 billion in 2023 and will grow at a CAGR of >5% during 2023-2028. While macroeconomic difficulties in Western Europe and North America will impact luxury demand in the short term, countries in APAC and Eastern Europe will continue to emerge as burgeoning economies. Per our analysis, Hermes emerged as the uncontestable winner within the luxury apparel market, growing its share at an exponential rate in 2023.

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