Economy

Adidas Overtakes Jordan As No. 2 Sneaker Brand in America

Adidas Overtakes Jordan As No. 2 Sneaker Brand in America”

According to Rovell, Adidas captured 11.3 percent of the market share from January 2017 through August 2017-a notable jump from its 6.6 percent in the same span a year ago.

"Yeezy just jumped over Jumpman", rapper Kanye West said in his 2015 song "Facts" in reference to his shoe line with Adidas.

In the last two reported quarters, Adidas' overall USA sales growth went up 41 and 45 percent, while Nike, which has a significantly larger business, saw an increase of 3 percent in one quarter and none in the other.

"Adidas basketball grew more than 40 percent, while Nike declined in the mid-singles and Brand Jordan lost about a third of its sales", said Tonya Garcia of MarketWatch. Nike shares are up 5.3% for the year thus far while Adidas shares are up 31.1% for the period.

Adidas' growth shows no signs of slowing, and the brand has reportedly surpassed Jordan to become the second biggest in the US sneaker market. Consumers are gravitating toward the creative and fresh new styles of Adidas, and a once-exclusive market for Retro Jordan resales has become more saturated over the years.

For decades, Jordan brand made its name and money by owning the retro sneaker slice of the pie, and while they still sell well, that doesn't appear to be a sustainable strategy going forward.

Whether Adidas can sustain this level of unprecedented growth remains to be seen. That was up from the 6.6 percent the brand had over the same period a year ago.



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