Women’s sports merchandise is undergoing a significant shift as teams and investors recognize that female fans expect more than the standard “shrink it and pink it” approach common in men’s leagues. Monarch Commerce, a subsidiary of the investment firm Monarch Collective, recently demonstrated this trend by working with Circle Theory to upcycle Atlanta Dream jerseys into one-of-a-kind purses that sold out at $275 each. The company’s CEO, Samantha Bushy, notes that the market has moved past mass production toward items that offer customization and fashion-forward design.
Fashion as the entry point to fandom.
Women’s sports merchandise now serves as a major growth area that is still far from reaching its full potential. In 2024, a partnership between Sports Innovation Lab and Klarna estimated the market could generate $4 billion annually, though supply has historically struggled to keep up with demand. As the ecosystem has grown with new leagues and expansions, existing properties have scaled their offerings while new licensees and designers attempt to fill gaps in the market.
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The demand for lifestyle and limited-edition items is particularly strong among Gen Z, Black, and Hispanic fans, who are more likely than older demographics to prioritize unique designs over price. While price remains a significant factor for all groups, younger fans rank unique silhouettes and social messaging higher. This data suggests that merchandise is often the first touchpoint for new fans, with fashion acting as the “front door” to broader fandom for a large audience.
Women’s sports properties are increasingly designing for women rather than adapting male templates, focusing on materials, silhouettes, and inclusive sizing. The Washington Spirit, for example, redesigned their jerseys to incorporate city icons like cherry blossoms, a move that helped them lead the NWSL in jersey sales year over year. Meanwhile, the Indiana Fever and Golden State Valkyries have found success with denim shorts and bedazzled shirts, respectively, proving that fans will buy lifestyle items even when they already own the standard team gear.
Several independent brands have emerged to meet the specific demands of women’s sports fans, creating products that bridge the gap between art, culture, and athletics. Playa Society, founded by Esther Wallace, focuses on hand-drawn designs featuring WNBA players, growing into a league licensee and seeing revenue double year over year since 2022. Similarly, Round21, founded by Jasmine Maietta, works with artists to create unique items like mesh crop tops and WNBA terry zip-up polos, positioning itself as a “creative layer in sports.”
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Another example is W Tie, which upcycles thrift store ties embroidered with the WNBA logo. The brand gained traction after WNBA legend Sheryl Swoopes wore one of the ties courtside. These smaller brands often find themselves outperforming expectations, with Saldivar landing a partnership with Round21 within a year due to overwhelming demand. The success of these entities highlights a market reality: women often purchase more merchandise overall, adding unique pieces to their wardrobes rather than simply collecting team-centric apparel.
Even established retailers are pivoting to address these needs. Fanatics has noted that the WNBA ranks among its highest-growth leagues, and the company is expanding its focus on women’s products across all pro leagues. The rapid rise in merchandise sales has forced the retail industry to adapt, with many buyers initially hesitant to commit to new inventory but eventually recognizing the financial viability of the sector.