Sneaker Boom Fades as Consumers Embrace Formal Fashion
The global sneaker boom is showing signs of slowing as consumers increasingly shift from casual sportswear to smarter, more formal clothing. The changing fashion trend is weighing on athletic apparel companies such as Nike, Lululemon and Adidas, while brands specialising in dress shoes, loafers and premium everyday wear are gaining momentum. According to market research group GlobalData, sports footwear’s share of the global market increased from around 37% in 2012 to more than 50% in 2024, reflecting the rise of athleisure. However, consumers are now rediscovering traditional footwear, with loafers emerging as a popular alternative to sneakers for the autumn season.
The shift is creating contrasting fortunes across the fashion industry. Lululemon reported a 20% decline in legging sales in its fiscal second quarter, while Adidas recorded stronger growth in performance sportswear than in fashion-focused styles. Meanwhile, Steve Madden has raised its sales forecasts, and Birkenstock has benefited from demand for clogs and more formal-looking footwear. Luxury brands are also seeing early signs of recovery in heels and statement shoes in markets such as the United States and Japan. The trend is extending beyond footwear, with demand for denim, tailored clothing and structured undergarments supporting growth across several apparel categories.
To adapt, athletic brands are introducing designs that combine sporty comfort with formal styling. Adidas has launched hybrid products such as the Samba-Jane and snoafer, while expanding its premium clothing range with traditional knits and denim. Lululemon is broadening its casual clothing offerings, although competitors such as Alo Yoga and Vuori are also gaining ground in everyday fashion. Retailers including Zara and Aritzia appear well positioned to benefit from the shift towards premium, versatile clothing. However, analysts warn that brands must respond quickly to changing silhouettes, fabrics and consumer preferences to sustain growth. While athleisure is unlikely to disappear entirely, the industry’s next phase will depend on balancing comfort with a more polished look.
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