Investment Rating - The report maintains a "Positive" investment rating for the sports footwear and apparel industry [6] Core Insights - The global sports footwear and apparel market is projected to reach $407.3 billion by 2024, with a CAGR of 4.6% from 2015 to 2024 [12][13] - The penetration rate of sports footwear and apparel is expected to reach 21.7% in 2024, with sports footwear at 45.7% and sports apparel at 15.7% [13] - The domestic market in China is expected to grow to 408.9 billion yuan by 2024, with a CAGR of 5.0% from 2019 to 2024, indicating a more favorable growth compared to the overall apparel sector [16] Summary by Sections 1. Market Growth and Trends - The global sports footwear and apparel market has shown resilience and is expected to grow steadily, with a significant increase in penetration rates [12][13] - In China, the market is also expanding, with a notable increase in the share of sports footwear and apparel within the overall footwear and apparel market [16] 2. Competitive Landscape - The global market is characterized by high concentration, with Nike and Adidas holding significant market shares of 13.4% and 8.2% respectively [44] - The CR10 (Cumulative Market Share of Top 10 Brands) in the global sports footwear and apparel market is 36.9% [44] - In China, the CR10 has reached 73%, with domestic brands gaining market share against international competitors [50] 3. Growth Drivers - National sports policies are increasingly supporting the industry, with infrastructure development and promotion of various sports [20][21] - There is a growing awareness of health among the population, leading to increased spending on sports and fitness [26][27] - The trend of consumption upgrading is driving the growth of niche sports segments, such as marathons and yoga [31][32] - The diversification of sportswear into everyday fashion (Athleisure) is expanding the market [36][41]

Core Viewpoint - The article emphasizes the importance of high-quality, comfortable, and safe intimate clothing, particularly during the summer heat, highlighting consumer concerns about product transparency and performance [2][4][6]. Group 1: Consumer Awareness and Concerns - Consumers are increasingly aware of the lack of transparency in intimate clothing, leading to anxiety over product quality and safety [4][6]. - The article discusses the common issues faced by consumers, such as discomfort from sweat and poor fabric performance, which have become more pronounced in the summer [2][4]. - A significant conversation has emerged on social media regarding how to select the right intimate clothing, indicating a shift in consumer priorities towards safety and quality [4][6]. Group 2: Testing Methodology - The article outlines a rigorous testing process for intimate clothing, focusing on real-life performance rather than marketing claims [9][20]. - Six core experience dimensions were established for testing, including cooling sensation, smoothness, elasticity, breathability, quick-drying, and odor control [7][9][20]. - The testing involved comparing three popular brands of intimate clothing through various experiments to assess their functional performance [7][9][20]. Group 3: Performance Results - In the cooling sensation test, AIRism performed best, with a temperature increase of only 3.6°C after contact with skin, compared to 0.3°C and 0.7°C for the other brands [18][20]. - The smoothness test showed AIRism had the least sliding resistance, taking only 1.58 seconds to slide down a slope, indicating superior fabric quality [25][27]. - AIRism also excelled in elasticity, maintaining its shape after multiple washes, with a deformation of only 2.2cm compared to higher deformation in competitors [39][40]. Group 4: Additional Functional Tests - The breathability test indicated that AIRism's fabric allowed for better moisture diffusion, crucial for comfort in hot weather [45][46]. - In the quick-drying test, AIRism showed minimal weight difference after drying, indicating superior moisture management [57][58]. - The odor control test revealed that AIRism effectively minimized unpleasant smells, outperforming other brands [64][65]. Group 5: Market Position and Brand Strategy - AIRism's pricing strategy, ranging from 40 to 140 yuan, offers high-quality performance at an accessible price point, challenging more expensive brands [75][78]. - The brand's success is attributed to its comprehensive approach to product development, integrating multiple functional features into a cohesive system [75][78]. - The article highlights the importance of consumer feedback, with many users praising AIRism for addressing summer discomfort effectively [78][81].