Nike and Adidas are the world’s second most valuable sportswear brands. They are also the two closest competitors to each other. Other competitors of Nike include New Balance, Converse, Reebok, Asics, Fila, Lululemon, Vans, and Skechers among others.
List of Nike Competitors
Adidas:
Adidas, founded in 1949, is the world’s second most valuable sportswear brand. The Nike vs. Adidas rivalry spans a variety of industries, including clothing, accessories, sports gear, and shoes. As of July 1st 2022, the worth of Adidas was $34.44 billion. Adidas offers cutting-edge designs and technology advancements to athletes of all skill levels who strive for top performance. By working with renowned superstars like Kanye West, Pharell Williams, Beyonce, and Run DMC, Adidas has expanded its advertising budget in the United States. ..
Puma:
Adidas’s closest rival, Puma, is a German transnational corporation owned by Rudolf Dassler. Its head office is in Herzogenaurach, Germany. As a brand, Puma partners with and has sponsored high-profile celebrities such as Rihanna, Shawn Jay-Z Carter, Diego Maradona, The Bahamas, Usain Bolt, Marvin Bagley, Deandre Ayton, Cara Delevingne, and Selena Gomez amongst others. Compared to Nike’s board of directors, which has 15% black and 31% female members, Puma’s supervisory board has 16% black and 33% female members. This puts Puma in a better position than other Nike rivals and alternatives to attract Black Americans and women.
New Balance:
Founded in 1906 by William J.Riley, headquartered in Boston Massachusetts, New Balance with total revenue of $4.4 billion in 2021, is privately held and maintains a manufacturing presence in the United States as well as in the United Kingdom for the European market where they produce some of their popular models. New Balance happens to be a sponsor of the New York Road Runners, which organizes the New York City Marathon and the National Basketball Association amongst others. It has also sponsored the likes of Rose Davies, Celeste Mucci, Zoe Hobbs, Lisanne de Witte, Jenny Simpson, Emma Coburn, Jenny Simpson, Richard Douma, and Jamal Murray amongst others. A foundation owned by New Balance is called the New Balance Foundation, and it was founded in 1981. Even though Adidas has a 22 percent market share and New Balance has a 43 percent market share, the latter’s recent sector concentration may help New Balance expand its share in 2021 and beyond.
Converse:
Nike has been the largest shoe company in the world for over a century, and it continues to dominate the sneaker market. In 2003, Converse was created as a division of Nike, and it has consistently ranked among the most well-known sports companies worldwide. Despite being owned by Nike, Converse has maintained its authenticity and faces competition from its parent business for market dominance.
Reebok:
Reebok International Limited is an American manufacturer of fitness footwear and apparel with its global headquarters in Boston, Massachusetts’ Seaport District, and regional offices in Hong Kong, Montreal, Amsterdam, and Mexico City. Reebok International Limited was founded in England in 1958. For a whopping $3.8 billion, Adidas purchased Reebok as a subsidiary in 2005. In 2021, Adidas sold Reebok to Authentic Brands for $2.5 billion, $1.3 billion less than what Adidas paid for it in 2005. This move was due to a great decline in Reebok sales in the United States which shattered Adidas’ hope of using its acquisition of Reebok to fiercely compete and surpass America’s number one sportswear dealer Nike.
Asics:
Nike and Asics have a long history of working together. Nike’s founder, Phil Knight, used to distribute shoes for Onitsuka Tiger back in the 1960s. This relationship eventually led to Asics becoming the company’s headquater in Kobe, Japan. Asics manufactures a variety of footwear, clothing, and accessories. ..
Nike has been the world’s most valuable sportswear brand for many years now, and it is likely to remain so for some time to come. This is due in part to its expansive reach, its partnerships with a number of leading brands, and its ability to keep up with the latest trends. Nike has also managed to stay ahead of the curve in terms of innovation, which has helped it stay one of the most popular sportswear brands on the planet.
Nike is better than Adidas because Nike owns the overall biggest share of the sportswear and gear market worldwide.
Nike does not manufacture its products. Private manufacturing partners around the world produce Nike apparel, gear, and shoes. ..
