What does Velour mean?

A knit or woven fabric that usually has a thick, short, cut pile.

Heddels explains Velour

Velour, like velvet, has a soft, thick nap and a luxurious appearance. However, it is knit instead of woven, making it lighter and stretchier than velvet.

As a result, it is often used to manufacture casual and work out clothes, allowing the wearer to move easily within the clothes. It is also more forgiving and resilient that velvet, and for these reasons is also used for upholstery, car seats, and drapery.

Additional Resources

Velour fabric:

Source: sweetprettystuff.blogspot.com