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HomeNEWSNike dominates the sportswear industry with $37.4B in revenue

Nike dominates the sportswear industry with $37.4B in revenue

With health and sport more popular than ever before, renowned retailer Nike recorded a staggering $37.4B in revenue for 2020, making it the highest-earning sportswear manufacturer in the world.

Similarly, Nike’s biggest competitor Adidas recorded revenues of close to $13B, the second highest among sporting goods brands.

Nike’s revenue for 2020 is actually nearly five percent less than 2019, a common trend among consumer good companies following the Covid-19 pandemic. Both Nike and Adidas are popular choices in terms of sporting goods, although, data from Trading Platforms revealed a high percentage of revenue comes from footwear sales.

In 2019, Nike generated $24.2B in revenue from their footwear segments, which is more than the combined $17B dollars recorded by its two main competitors Adidas and Puma. Adidas recorded 15B in footwear revenue, while puma recorded almost $3B in revenue.

In 2020 Nike generated 40 percent of its footwear revenue from North America which translated to $9.33B. Its next biggest source of footwear revenue is the Europe, Middle East, & Africa (EMEA) region which generated 25 percent of its footwear revenue ($5.89B). Impressively, their third biggest source of footwear revenue is Greater China alone with 20 percent of its footwear revenue ($4.64B).

VF Corporation, known for brands like North Face and Jansport, comes in at third place in terms of revenue making almost $10B for their 2020 fiscal year. Puma takes fourth with $6B in revenue, while relative newcomer Under Armour comes in at fifth with a recorded $5.27B in revenue.

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