Posted: February 17th, 2022
Nowadays, people are very open to taking sports as an option to their career. This has led to an increase in the sales of sports gear. In every sports shoe, they only gear, which is common in every sport. No wonder every footwear industry is making billions of dollars every year. The athletic footwear comprises shoes like shoes for walking and running, hiking shoes, and even gym anaerobic requires wearing proper shoes. Based on the market report in the last five years from 2016 to 2021, it is easy to analyse and list the top news in the athletic footwear market. The leading market players of the athletic footwear industry are Nike, Adidas, New Balance, sketches and PUMA (Rodrigues, et al., 2021).
1. Nike has stood out to be the top industry player in the athletic footwear industry regarding revenues and market shares. As of now, the estimated market share of Nike is about 50%. Nike is a company that sells multiple products like apples and other gears apart from footwear. Nike generates a total of 23.31 billion dollars only out of their athletic footwear. Nike has 1048 offline stores worldwide where they sell their foot wares. More than 75,000 people work as an employee under Nike. Nike overall has seen growth in profit from 2016 to 2021. In these five years, the company has seen a 21.05% increase in sales globally. The company faced declaring profit in 2019 compared to the here 2020 as its net profit in 2019 was 37.5 billion dollars, and it was 39.5 billion dollars in the year 2021. However, the company was in profit in India 2020 as a company at a good gain in the revenues as the company had earned over 44.5 billion dollars this year. The company’s unique strategies make the brand unique revenue generation compared to every other company present globally in the athletic footwear industry (Jones, 2021).
2. Adidas Is one of the largest companies in athletic footwear but comes second to Nike in terms of their net revenue worldwide. The brand earns over 13.67 billion dollars annually from its footwear segment: it produces and markets more than 379 pairs of shoes annually. More than 60000 people work under Adidas as an employee. The company also manufactures other sports gear, bags, apparel, watches, etc. The company has its headquarters in Germany and was founded in 1949. and they are always found to be next in competition with the brand Nike. Adidas Never disappoints in making profits, but the company has seen a decline in profit in there 2021 as the company was seen with a drop of 2.71% in their revenue globally as their quarterly revenue generation. But the company came back with an overall increase of 13.84% in revenue at the end of the year. Like Nike, the company also faces a decline in revenue in 2019. Other than this company is always in profits almost everywhere as in the year 2018 company had an increase in sales by 2.3% and a 7.92% increase in sales for sale in the year 2017.
3. New Balance is a Boston-based company whose market share of around 15% is 3rd on the list. In the year 2018, the global market of this company adds a value of 33.2 billion dollars. One of the unique strategy strategies the company has seen following is celebrity endorsement of their athletic footwear. And the company claims their keep focus on quality over style has been the cause of their success to date, as they are very much aware that the athletes prefer quality products any day over style when it comes to footwear—the company manufacturers athletic footwear for kids, women’s and men’s.
4. Skechers is the company after New Balance in 2021 as the 4th most effective market player in the athletic footwear industry. This is a multi-million-dollar company which is best in the USA and the company manufacturers lifestyle and footwear accessories. As of 2021, the net worth of Skechers is around 5 billion dollars. This company was founded in 1992, and the headquarters of this company is in California. Input wires the company manufacturers into segments. One is the lifestyle division, and another is the performance division. The company’s performance division has categories like Skechers run, walk footwear, etc.
5. Last but not least, we have Puma on our list in 5th place. The primary recognition of Puma footwear and its athletic footwear segment is viral among athletes worldwide, especially in Asian countries. More than 15000 people are employed under Puma worldwide. The net worth of Puma footwear sales worldwide is around 2.4 billion euros. Out of Puma manufacturers’ entire product, their athletic footwear category shares 45.2% in their Entire manufacturing products (Tang, 2021,).
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