The company is striving to expand beyond the US and it recently opened its first UK store on London’s Oxford Street.
The company’s product portfolio also includes Aravon shoes for comfort performance, Warrior hockey gear, PF Flyers footwear, and Brine, a leader in field hockey, lacrosse, soccer, and volleyball. Besides manufacturing men’s and women’s shoes for basketball, tennis, golf, hiking, running, and cross training, New Balance offers fitness apparel and shoes for kids and owns shoemaker Dunham. The company claims to emphasize substance over style by highlighting lesser-known athletes. Unlike many of its rivals, the Boston-based multinational corporation New Balance shuns celebrity endorsement. Adidas has not only become a symbol of sports fashion but has also presented a collective image of street, pop-culture, music, sports, and other fashion statements, defining its existence through its remarkable communication strategies. With more than 1000 stores across the world, the shoe brand has risen to extreme heights of success. It generated sales of approximately $25 billion in 2019, and these staggering numbers are a testament to what a large and multifaceted company adidas has become. The company produces more than 900 million sports and lifestyle products with independent manufacturing partners around the world. With its roots in Germany, adidas has become one of the top shoe brands in the world. Suggested reading: Nike Market Share in 2019: World’s Largest Shoe Company 2. Nike is also getting its flagship products right with shoes like Nike Air Max 270, ZoomX, React, and VaporMax. The company is taking several steps toward its goal of becoming a retail tech company and some of these tactics already appear to be working. Nike, the world’s largest sports footwear brand, is reinventing itself for the digital era.
Nike’s ‘Just do It’ marketing campaign featuring Colin Kaepernick has proven to be beneficial for the company as it helped grow their online sales of footwear products across the world. NikeĪs one of the world’s largest shoe shoe brands, Nike has always been at the leading edge of innovation, technology development, and cutting-edge marketing campaigns that help it surpass other brands in terms of popularity and sales. Top 10 Shoe Companies in the World in 2020 1.
Take a look at Technavio’s Footwear Market Research Libraryand download your free sample report today. These reports help our clients identify opportunities within the market and develop effective strategies to optimize their market positions. Technavio has been closely monitoring the latest footwear market trends to create an in-depth portfolio of footwear market research reports. Consequently, the footwear market is expected to grow at a CAGR of more than 2 % by 2024. Leading footwear companies like Adidas, ASICS, and Nike are best known for their innovative offerings.Īccording to Technavio’s research, the non-athletic segment will account for the highest growth in the footwear market owing to evolving demands, a growing consumer base of internet sales, and faster shipping services. This, in turn, is triggering the growth of the global footwear market. The demand for premium footwear products is staggering, thanks to the introduction of innovative designs and advanced technical fabrication by the world’s leading shoe companies.
The global footwear industry is unlikely to slow down anytime soon, with the global demand for footwear growing at an impressive rate.įor the latest footwear market report, including global footwear market size, top shoe companies, and future trends please see Technavio’s Global Footwear Market Report 2020-2024, or download your FREE Footwear Market Report Samplenow! Global Footwear Market AnalysisĬonsidering the booming sales of a wide range of footwear products through both online and offline distribution channels, Technavio’s market analysts have estimated that the footwear market will register revenue of close to $353 billion by 2022, while the global footwear market size has the potential to grow by $42.06 billion during 2020-2024, registering a steady CAGR of over 2% during the forecast period. Standing on the verge of a retail revolution in a fast-changing retail landscape, major shoe companies are experiencing phenomenal growth in revenues. The global footwear market has been growing by leaps and bounds over the past few decades, thanks to the drastic rise in consumer spending patterns and a change in consumer perspective that puts style on the same footing as comfort.