Kate Spade (NASDAQ:KATE) is the latest brand to jump into the athleisure wear market.
With activewear now accounting for 4 percent of the apparel market, and sports apparel sales up 18 percent annually, the previously high-end brand is joining the more casual trend, Investopedia reported.
Kate Spade is partnering with yoga wear brand Beyond Yoga to produce the line, featuring 16 new items including leggings, bras and camis to debut next spring.
Earlier this year, Kate Spade closed its Saturday and Jake Spade branded stores, and announced it would turn its effort to more targeted initiatives for mid and long-term growth.
Kate Spade joins the growing number of retailers jumping on the athleisure bandwagon, including Victoria's Secret, Nike (NYSE:NKE), Under Armour (NYSE:UA), Dick's Sporting Goods and, as of this week, Abercrombie & Fitch (NYSE:ANF).
Kate Spade is hoping the move will not tarnish the brand's image. For Coach, the brand's move into lifestyle confused its shoppers and, instead of lifting, only further hurt sales.
Kate Spade also entered into deals to produce children's clothing, sleepwear and kitchen accessories this month.
In June, Kate Spade was one of the first retailers to partner with Demandware to make the brand shoppable on Pinterest.
-See this Investopedia article
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