The market for cycling wear is expanding at a steady clip, according to a new report from Grand View Research. In 2019, the market size was valued at a whopping USD 5.49 billion, and that number is expected to balloon at a compound annual growth rate of 4.6% (2020 – 2027), thanks to increasing popular interest in health and wellness.
This year, social distancing efforts, coupled with continued interest in environmentally friendly transportation, have inspired more people to venture out of quarantine safely and sustainably. There’s never been a better time to be a cyclist.
The Slovak company Isadore Apparel, which is currently seeking capital on the Crowdberry platform, confirms these trends. Fueled by major growth in e-commerce under COVID-19, Isadore has recorded a cumulative 40% annual growth in online sales since the beginning of the year and 33% growth of new customers in the first four months of the year. In general, e-commerce as one of the major distribution channels is projected to expand at the fastest CAGR of 5.8% from 2020 to 2027 according to the report. This is attributed to increasing influence of digital marketing strategies implemented by the brands to sell their products. A shift away from brick-and-mortar retail to online shopping has bolstered brands like Isadore, which compete with companies like Rapha and Champion but have proven their mettle as internet natives under the economic slowdown.
Want to take part in Isadore Apparel’s continued growth? Find out more about investing and becoming a co-owner at www.crowdberry.eu/Isadore.