Sneakers
From the ground up

Mark another win for adidas, as Yahoo Finance has just named the Three Stripes “Sports Business of the Year.”

The accolade comes just two years after adidas was upended by Under Armour as the number two sports apparel brand in the U.S., and replaced by Skechers as number two in footwear, of course behind Nike.

But in 2016, it was — and still is — all about the Three Stripes. The brand’s market share of U.S. athletic footwear rose to 7.2% for this year through November, up from 4.3%. Nike, on the other hand, saw its share fall to 37.3%, down from 41% last year.

For 2016, the company experienced $19 billion USD in sales, as revenues rose 20%.

Now, adidas is back at the number two footwear spot, beating out Skechers this time around.

A large part of adidas’s recent success not only comes from collaborations with entertainers such as Kanye West and Pharrell, among others, but also the introduction of Boost technology.

“I think because we have both performance products and style products, it’s not easy, but it gives us the opportunity to chase the consumer where the consumer wants to be,” says Mark King, president of the company in North America. “UltraBoost is the greatest example of it. It was going to be the ultimate running shoe, which it is, and now it’s the ultimate fashion shoe. These products can play both, and that’s not easy to do, but that’s the opportunity.”

King then went on to add that “Honestly, our products today are way better than they’ve ever been. When you look at what we have today with NMD, Yeezy, UltraBoost… the franchises, there’s a lot of them, not just one or two.”

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