Since overtaking Jordan Brand as the number two brand in the United States for sports footwear last fall, adidas has not lost any momentum as we’re almost half-way into 2018.
NDP Group’s sports industry analyst Matt Powell published a tweet, revealing the latest quarter earnings from adidas and Nike in the U.S., and the numbers show that adidas is still reigning at the top, “Adidas US +21%, Nike US -6%” — beating Under Armour as well.
As CNN Money points out, the impressive twenty one percent growth over last year was fueled by marketing and celebrity partnerships like with Pharrell Williams and Kanye West. In addition, consumer tastes towards casual street wear have also helped the brand.
It’s worth noting however that adidas’ market share is still much smaller compared to Nike in North America. Nike reported North American sales of $15.2 billion in fiscal 2017 versus adidas’ $5.1 billion.
Furthermore, adidas CEO Kasper Rorsted shared that the company’s overall performance was in line with his expectations, and said that the company will continue to focus on its growth in North America, China and e-commerce.
In related news, adidas is not dropping Kanye West over his slavery comments.
- Source: CNN Money