Brooks Running projects double-digit growth in 2022 – Footwear News
Brooks, which ended 2021 as a billion-dollar brand for the first time, is already seeing momentum bleed into 2022.
The running company forecasts double-digit year-over-year growth in 2022, on top of last year’s $1.11 billion in global revenue, a 31% increase compared to 2020. In the first quarter of 2022, Brooks captured 22% of the dollar share in the U.S. national performance footwear market across specialty, sporting goods, mid-range, high-end and shoe chains, according to the NPD Group’s Measured Total Market tracking service, which analyzes retailers that report to NPD, but not all retailers in the United States.
The brand’s Ghost and Adrenaline GTS shoes were the two top-selling models at retail in the United States and accounted for a combined 14% share of the dollar across all of the aforementioned channels, the NPD group’s tracking service showed.
Throughout 2021, Brooks consistently took market share from industry leaders including Nike and Adidas in the crucial women’s performance category, with the The Ghost and Adrenaline GTS shoes rank among the best sellers.
Brooks CEO Jim Weber told FN in a previous interview that he attributes the success of the women’s race to providing consumers with an “accessible” and “inclusive” brand.
“We had an open tent in terms of welcoming everyone into the race and welcoming everyone into our brand,” Weber said.
Like other shoe brands, Brooks was hit by supply chain slowdowns and factory closures in China and Vietnam last year. Still, the company managed to deliver record results in 2021, with global revenue up 31% from 2020. In North America, revenue was $889.1 million, up 33% compared to 2020. The company’s e-commerce channels in North America grew by 149%. compared to 2019.
“While factory closures in Vietnam last year prevented us from meeting strong market demand for Brooks in the first quarter, we remain optimistic for substantial growth in 2022,” said Brooks CEO Jim. Weber, in a statement. “Brooks performance products have continued to dominate racers and the best is yet to come.”
To build on last year’s momentum, Brooks is innovating its footwear technology and expanding its product offering. In July, the brand will launch new additions to three acclaimed shoe franchises – the Glycerin 20, Glycerin GTS 20 and Caldera 6 – all of which will feature a new nitrogen-infused midsole innovation, DNA Loft v3, from Brooks BlueLine. Lab.
This summer, Brooks will release the Wire 8 cleat, a prototype of which was originally released for Olympic medalist and runner Josh Kerr at Boston University’s Last Chance Meet in February.
Throughout the pandemic and beyond, Brooks has reaped the rewards of a nationwide running boom, which has galvanized running-focused brands such as Saucony and Hoka One One.