Comparative Business Market Performance Analysis - Lululemon, Athleta, Under Armour, Nike

Research Article
Open access

Comparative Business Market Performance Analysis - Lululemon, Athleta, Under Armour, Nike

Zichen Feng 1*
  • 1 Lanna International School    
  • *corresponding author liaoya@asu.edu.pl
AEMPS Vol.193
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-80590-201-0
ISBN (Online): 978-1-80590-202-7

Abstract

This paper compares the financial performance, market strategies and positioning of the four key players in the competitive athletic apparel industry; Nike, Lululemon, Under Armour, and Athleta, The Gap. This study evaluates how each business creates and preserves its competitive advantage in the market where rapid changing consumer demand occurs through SWOT analysis. The findings reveal that by integrating wellness and strong community ties to build loyalty and maintain growth. Nike continues to dominate the world market through its excellent marketing strategies of emotional marketing, female-centric marketing and sponsorships that resonate globally. Although Under Armour struggles with consistent branding, its tech-driven designs appeal to young people. As a subsidiary of Gap Inc., Athleta advocates for eco-consciousness and women empowered messaging, but its brand recognition and unique selling points are still quite low compared to its larger competitors. This study helps to bridge the gap between consumer behaviour, gender-focused branding, and financial analysis. The innovation of the paper to evaluate brand competitiveness comprehensively, is to combine financial health comparison with strategic marketing evaluation.

Keywords:

Athletic Apparel, Marketing Strategies, Brand Positioning, Consumer Engagement

Feng,Z. (2025). Comparative Business Market Performance Analysis - Lululemon, Athleta, Under Armour, Nike. Advances in Economics, Management and Political Sciences,193,38-48.
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References

[1]. NIKE, Inc. (2024, June 27). NIKE, Inc. reports fiscal 2024 fourth quarter and full year results. https://investors.nike.com/investors/news-events-and-reports/investor-news/investor-news-details/2024/NIKE-Inc.-Reports-Fiscal-2024-Fourth-Quarter-and-Full-Year-Results/default.aspx

[2]. New York Post. (2024, December 4). Foot Locker shares plunge 9% on soft holiday demand — especially for Nike products. https://nypost.com/2024/12/04/business/foot-locker-shares-plunge-14-especially-for-nike-products/

[3]. Thaler, R. (1985). Mental accounting and consumer choice. Marketing Science, 4(3), 199–214. https://doi.org/10.1287/mksc.4.3.199

[4]. Simply Psychology. (2024). Maslow's hierarchy of needs. https://www.simplypsychology.org/maslow.html

[5]. Waymer, D., & Logan, N. (2021). Corporate social advocacy as engagement: Nike’s social justice communication. Public Relations Review, 47(1), 102005. https://doi.org/10.1016/j.pubrev.2020.102005

[6]. Hess, K. (2018, March 12). Believe in more: How a Nike campaign crossed three borders. Medium. https://medium.com/ad-discovery-and-creativity-lab/believe-in-more-how-a-nike-campaign-crossed-three-borders-cbf6381104ed

[7]. Calkin, S. (2016). Globalizing ‘Girl Power’: Corporate social responsibility and transnational business initiatives for gender equality. Globalizations, 13(2), 158–172. https://doi.org/10.1080/14747731.2015.1064678

[8]. Qian, Z., & Zou, J. (2021). Brand Community Strategy of Lululemon. Www.atlantis-Press.com; Atlantis Press. https://doi.org/10.2991/assehr.k.211209.520

[9]. Xu, Z. (2022). The analysis of the marketing strategy of Lululemon Athletica. BCP Business & Management, MEEA 2022, 34, 8–12.

[10]. Huber, J., Ariely, D., & Wertenbroch, K. (2005). When do losses loom larger than gains? Journal of Marketing Research, 42(2), 134–138. https://doi.org/10.1509/jmkr.42.2.134.62282

[11]. Arkes, H. R., & Blumer, C. (1985). The psychology of sunk cost. Organizational Behavior and Human Decision Processes, 35(1), 124–140. https://doi.org/10.1016/0749-5978(85)90049-4

[12]. USA Today. (2016, January 28). Under Armour soars with Stephen Curry’s endorsement. USA Today. Retrieved from https://www.usatoday.com/story/money/2016/01/28/under-armour-soars-stephen-curry/79456454/

[13]. Chaffey, M., Jacobitz, V., Levi, A., Olson, L., & Serpico, N. (2023). Athleta B Corporation Case Study. B-Corp Case Studies by UNL Raikes Seniors. University of Nebraska - Lincoln. Retrieved from https://digitalcommons.unl.edu/cgi/viewcontent.cgi?article=1001&context=raikescases

[14]. Sirgy, M. J. (2018). Self-congruity theory in consumer behavior: A little history. Journal of Global Scholars of Marketing Science, 28(2), 197–207. https://doi.org/10.1080/21639159.2018.1436981

[15]. Kim, K., & Yang, Y. (2019). Social Media's Impact on Brand Loyalty in the Sportswear Industry: A Comparative Study of Nike and Under Armour. Journal of Business Research, 96, 365-376.

[16]. Brodie, R. J., Hollebeek, L. D., Juric, B., & Ilić, A. (2011). Customer engagement: Conceptual domain, fundamental propositions, and implications for research. Journal of Service Research, 14(3), 252–271. https://doi.org/10.1177/1094670511411703

[17]. Vivek, S. D., Beatty, S. E., & Morgan, R. M. (2012). Customer engagement: Exploring customer relationships beyond purchase. Journal of Marketing Theory and Practice, 20(2), 122–146. https://doi.org/10.2753/MTP1069-6679200201

[18]. Hollebeek, L. D. (2011). Exploring customer brand engagement: Definition and themes. Journal of Strategic Marketing, 19(7), 555–573. https://doi.org/10.1080/0965254X.2011.599493

[19]. Morgan, R. M., & Hunt, S. D. (1994). The commitment-trust theory of relationship marketing. Journal of Marketing, 58(3), 20–38. https://doi.org/10.2307/1252308

[20]. BStrategyHub. (n.d.). SWOT analysis of Nike [Nike SWOT]. BStrategyHub. Retrieved April 12, 2025, from https://bstrategyhub.com/swot-analysis-of-nike-nike-swot/

[21]. B Strategy Hub. (2019, October 26). SWOT analysis of Under Armour 2019 – Under Armour SWOT analysis. https://bstrategyhub.com/swot-analysis-of-under-armour-2019-under-armour-swot-analysis/

[22]. Pereira, D. (2024, December 13). Lululemon SWOT analysis. Business Model Analyst. https://businessmodelanalyst.com/lululemon-swot-analysis/

[23]. Clean Clothes Campaign. (2022, October 13). Nike turns its back on Cambodian workers. CleanClothes.org. https://cleanclothes.org/blog/nike-turns-its-back-on-cambodian-workers

[24]. OSUM. (n.d.). Athleta SWOT Analysis (2023). OSUM. Retrieved April 12, 2025, from https://blog.osum.com/athleta-weaknesses/

Cite this article

Feng,Z. (2025). Comparative Business Market Performance Analysis - Lululemon, Athleta, Under Armour, Nike. Advances in Economics, Management and Political Sciences,193,38-48.

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Volume title: Proceedings of ICEMGD 2025 Symposium: Innovating in Management and Economic Development

ISBN：978-1-80590-201-0(Print) / 978-1-80590-202-7(Online)
Editor：Florian Marcel Nuţă Nuţă, Ahsan Ali Ashraf
Conference website: https://2025.icemgd.org/Lahore.html
Conference date: 23 September 2025
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.193
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. NIKE, Inc. (2024, June 27). NIKE, Inc. reports fiscal 2024 fourth quarter and full year results. https://investors.nike.com/investors/news-events-and-reports/investor-news/investor-news-details/2024/NIKE-Inc.-Reports-Fiscal-2024-Fourth-Quarter-and-Full-Year-Results/default.aspx

[2]. New York Post. (2024, December 4). Foot Locker shares plunge 9% on soft holiday demand — especially for Nike products. https://nypost.com/2024/12/04/business/foot-locker-shares-plunge-14-especially-for-nike-products/

[3]. Thaler, R. (1985). Mental accounting and consumer choice. Marketing Science, 4(3), 199–214. https://doi.org/10.1287/mksc.4.3.199

[4]. Simply Psychology. (2024). Maslow's hierarchy of needs. https://www.simplypsychology.org/maslow.html

[5]. Waymer, D., & Logan, N. (2021). Corporate social advocacy as engagement: Nike’s social justice communication. Public Relations Review, 47(1), 102005. https://doi.org/10.1016/j.pubrev.2020.102005

[6]. Hess, K. (2018, March 12). Believe in more: How a Nike campaign crossed three borders. Medium. https://medium.com/ad-discovery-and-creativity-lab/believe-in-more-how-a-nike-campaign-crossed-three-borders-cbf6381104ed

[7]. Calkin, S. (2016). Globalizing ‘Girl Power’: Corporate social responsibility and transnational business initiatives for gender equality. Globalizations, 13(2), 158–172. https://doi.org/10.1080/14747731.2015.1064678

[8]. Qian, Z., & Zou, J. (2021). Brand Community Strategy of Lululemon. Www.atlantis-Press.com; Atlantis Press. https://doi.org/10.2991/assehr.k.211209.520

[9]. Xu, Z. (2022). The analysis of the marketing strategy of Lululemon Athletica. BCP Business & Management, MEEA 2022, 34, 8–12.

[10]. Huber, J., Ariely, D., & Wertenbroch, K. (2005). When do losses loom larger than gains? Journal of Marketing Research, 42(2), 134–138. https://doi.org/10.1509/jmkr.42.2.134.62282

[11]. Arkes, H. R., & Blumer, C. (1985). The psychology of sunk cost. Organizational Behavior and Human Decision Processes, 35(1), 124–140. https://doi.org/10.1016/0749-5978(85)90049-4

[12]. USA Today. (2016, January 28). Under Armour soars with Stephen Curry’s endorsement. USA Today. Retrieved from https://www.usatoday.com/story/money/2016/01/28/under-armour-soars-stephen-curry/79456454/

[13]. Chaffey, M., Jacobitz, V., Levi, A., Olson, L., & Serpico, N. (2023). Athleta B Corporation Case Study. B-Corp Case Studies by UNL Raikes Seniors. University of Nebraska - Lincoln. Retrieved from https://digitalcommons.unl.edu/cgi/viewcontent.cgi?article=1001&context=raikescases

[14]. Sirgy, M. J. (2018). Self-congruity theory in consumer behavior: A little history. Journal of Global Scholars of Marketing Science, 28(2), 197–207. https://doi.org/10.1080/21639159.2018.1436981

[15]. Kim, K., & Yang, Y. (2019). Social Media's Impact on Brand Loyalty in the Sportswear Industry: A Comparative Study of Nike and Under Armour. Journal of Business Research, 96, 365-376.

[16]. Brodie, R. J., Hollebeek, L. D., Juric, B., & Ilić, A. (2011). Customer engagement: Conceptual domain, fundamental propositions, and implications for research. Journal of Service Research, 14(3), 252–271. https://doi.org/10.1177/1094670511411703

[17]. Vivek, S. D., Beatty, S. E., & Morgan, R. M. (2012). Customer engagement: Exploring customer relationships beyond purchase. Journal of Marketing Theory and Practice, 20(2), 122–146. https://doi.org/10.2753/MTP1069-6679200201

[18]. Hollebeek, L. D. (2011). Exploring customer brand engagement: Definition and themes. Journal of Strategic Marketing, 19(7), 555–573. https://doi.org/10.1080/0965254X.2011.599493

[19]. Morgan, R. M., & Hunt, S. D. (1994). The commitment-trust theory of relationship marketing. Journal of Marketing, 58(3), 20–38. https://doi.org/10.2307/1252308

[20]. BStrategyHub. (n.d.). SWOT analysis of Nike [Nike SWOT]. BStrategyHub. Retrieved April 12, 2025, from https://bstrategyhub.com/swot-analysis-of-nike-nike-swot/

[21]. B Strategy Hub. (2019, October 26). SWOT analysis of Under Armour 2019 – Under Armour SWOT analysis. https://bstrategyhub.com/swot-analysis-of-under-armour-2019-under-armour-swot-analysis/

[22]. Pereira, D. (2024, December 13). Lululemon SWOT analysis. Business Model Analyst. https://businessmodelanalyst.com/lululemon-swot-analysis/

[23]. Clean Clothes Campaign. (2022, October 13). Nike turns its back on Cambodian workers. CleanClothes.org. https://cleanclothes.org/blog/nike-turns-its-back-on-cambodian-workers

[24]. OSUM. (n.d.). Athleta SWOT Analysis (2023). OSUM. Retrieved April 12, 2025, from https://blog.osum.com/athleta-weaknesses/

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