Strategic Acquisitions Like That of Quiet Logistics by American Eagle Outfitters Inc. to Drive the Global Sleepwear Market

Sleepwear, also called nightwear or nightclothes, are clothes designed to be worn while sleeping. Sleepwear category consist of several clothes like adult onesies, nightgowns, nightcaps, pajamas, nightshirts, blanket sleeper, and many more. Customers can easily choose from this wide variety of nightwear that are suitable for both hot and cold climates. Moreover, they also come in a huge array of fabrics like cotton, silk, satin, polyester, viscose, etc.

Forecast Analysis

Growing demand for comfortable nightwear, especially bridal nightwear for honeymoons is the main reason for the growth of the global sleepwear market. In addition, significant strategic alliances among leading market players is also expected to boost the market growth during the 2021-2028 timeframe. Moreover, increasing penetration of online shopping among the working population of women is predicted to offer ample growth opportunities for the global sleepwear market by 2028. Furthermore, increasing product launches by key market players is also accelerating the market growth to provide soft and comfortable nightwear. However, availability of fake products in the market is estimated to impede the growth of the global sleepwear market.

Regionally, the sleepwear market in the North America region is anticipated to hold a dominant market share and garner a revenue of $9,402.8 million during the analysis timeframe. Increasing customer demands for different comfortable sleepwear from the US and Canada is the prime factor to propel the market growth in the region. Moreover, growing prevalence of night suits and night robes along with the existence of some leading companies is also estimated to bolster the market growth in the North America region by 2028.

According to the report published by Research Dive, the global sleepwear market is predicted to register a revenue of $22,020.5 million and grow at 9.9% CAGR in the 2021–2028 timeframe. Some prominent market players include Hanky Panky Ltd., Jockey International, Inc., Triumph International Holding GmBH., L Brands Inc., Hanesbrands Inc., Berkshire Hathaway Inc., MAS Holdings Ltd., American Eagle Outfitters, Inc. (AERIE), the Chantelle Group, PVH CORPORATION, and many others.

Covid-19 Impact on the Market

The outbreak of the corona virus pandemic has severely affected every business and industry, including the global sleepwear market. Strict lockdowns imposed by governments in various countries across the world led to disruptions in supply chains and delayed manufacturing processes, thus declining the demand for nightwear among people. However, due to the current work from home schedules, people are staying home and demanding soft and comfortable nightwear, therefore accelerating the market growth.

Key Market Developments

The significant companies operating in the industry are adopting numerous growth strategies & business tactics, such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, thus helping the sleepwear market to flourish. For instance:

In December 2021, American Eagle Outfitters Inc., a leading clothing, lifestyles, and accessories retailer, announced its acquisition of Quiet Logistics, a third-party logistics organization in Massachusetts, with an aim to reduce delivery costs and expand its client base Quiet Logistics’ highly experienced supply chain team. Moreover, the apparel retailer also wanted to create inventory efficiencies and offer same-day or next-day delivery options to its customers with the help of the logistics firm.

In September 2020, Hanky Panky Ltd., a global innerwear company, announced its collaboration with Stoney Clover Lane, a leading travel accessories brand, for its new product launch. This strategic collaboration was aimed to bring their new pastel and rainbow shaded thongs into luxurious, reusable accessory. Another motive of the former company behind this collaboration was to capture more millennial and Gen Z shoppers across the world.

In January 2022, SKIMS, a renowned loungewear and sleepwear brand, announced its collaboration with Team USA, to provide warmer and comfortable undergarments to all the female athletes in colder temperatures during the upcoming Winter Games. The limited-edition apparels were made available for the public to shop after January 25.