(NYSE: NKE) is the undisputed heavyweight champion in the apparel and footwear industry, as its global reach and brand recognition have made it a household name. The stock has rewarded shareholders throughout history, and it's up 1,300% in the past 20 years. What's more, the company's market cap sits at close to $150 billion today. 

But looking out between now and 2050, a long time for sure, I think it's completely in the realm of possibilities that Nike's market cap will be overtaken by that of Lululemon (NASDAQ: LULU). That might seem like a wild statement to some, so let's take a closer look at both businesses to gain a better perspective. 

Nike has a commanding lead in the global market for sports apparel and footwear, a position it has held for decades. The Oregon-based business produced revenue of $51.2 billion in fiscal 2023 (ended May 31), indicative of its huge scale, with a sizable presence not only in North America but also in various regions across the world. Developing and selling some of the most in-demand merchandise has cemented Nike's status atop the industry.

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Source Fool.com