Before discussing Nike competitors, let us know the company background and information. Nike is an American multinational company that deals in the designing, manufacturing, marketing, and selling of sports footwear, apparel, equipment, and other related accessories. Nike offers different categories of products and accessories, like sports shoes and apparel for men, women, and children. The company is also engaged in selling shoes for many outdoor and recreational uses.
The company started its operations on January 25, 1964, as Blue Ribbon Sports and officially changed its name to Nike Inc. on May 30, 1971. Nike has sponsored many renowned sports teams and athletes with its top trademark, “Just Do It,” and Swoosh logo.
Nike had annual revenue of $36.4 billion in the financial year 2018 with a market capitalization of $120.3 billion and 11000 stores worldwide. It has more than 73,000 employees. The Tax Act offset its revenue growth as Nike’s net income of $1.9 billion decreased by 54% as compared to the previous FY 2017.
Nike is among the top three companies, i.e., Nike, Adidas, and Reebok, and these two companies are the top competitors of Nike Inc.
Nike’s top competitors are:
- Under Armour
- New Balance
- Lululemon Athletica
Top Nike Competitors
Here we will conduct a detailed analysis of Nike competitors.
Adidas, formerly known as Dassler Brother Shoes, is the designer, manufacturer, and marketer of shoes, clothing, and accessories. In 2005, Adidas acquired Reebok for $3.8 billion. After the takeover, both companies, Reebok and Adidas, have a strong position to compete with Nike in North America. The Adidas group consists of three subsidiaries, i.e., Reebok, Runtastic, and TaylorMade. According to this, Adidas is a strong competitor of Nike and the second-largest shoemaker in the world. Adidas brand valuation is $14.3 billion, and revenue amounted to 21.218 billion euros.
Reebok is another competitor of Nike, Inc. Reebok is a footwear and apparel company that designs, manufactures, and distributes CrossFit, fitness, running footwear, and clothing. Reebok is a subsidiary of the German company Adidas Group. Reebok manufactures a variety of assortments, but according to Reebok, the top-rated product is the Reebok CrosFit Nano 8. The company considers itself distinctive and authentic with its consumers. Reebok revenue amounted to $2 billion in 2017.
Puma is a German multinational brand that designs and manufactures a variety of athletic and casual footwear, apparel, and accessories. The company offers many sports-inspired products, like training and fitness, golf, basketball, football, and motorsports. Interestingly, both the founders of Adidas and Puma were brothers and founders of Dassler Brothers Shoes. In 1948, they agreed to split the company and founded two companies, Adidas and Puma. The annual revenue of Puma amounted to $5.5 billion. Puma is considered a Nike competitor in sports footwear and apparel.
Under Armour was founded in 1996 by Kevin Plank, headquartered in Baltimore, Maryland, United States. It manufactures casual and sports footwear and apparel. The company is engaged in the development, distribution, and marketing of its product lines worldwide. Under Armour products are used by all levels of college and professional players, as well as general consumers who love an active lifestyle. The company is a major competitor of Nike. UA generated $5 billion in revenue with a market capitalization of $7.7 billion.
New Balance Athletics Inc., also known as New Balance, was founded in 1906 by William J. Riley. New Balance is a multinational corporation headquartered in Boston, Massachusetts, United States. The company produces athletic shoes, sportswear, equipment, and apparel. The company differentiates its product line with several technical features, like heel counters and blended gel inserts. In FY 2018, the company was able to generate $4 billion in revenue. New Balance has a premium brand image and is among the top Nike competitors.
Fila is another sportswear manufacturing company and a top competitor of Nike. Fila is a worldwide leading brand among sportswear and footwear brands like Nike, Puma, and Adidas. It is an Italian-South Korean company founded in 1911 in Italy. After passing through many ownerships, Fila Korea finally purchased it in 2007. It is headquartered in Seoul, South Korea.
A yoga-inspired athletic company, Lululemon Athletica, makes athletic apparel for women and men. The company deals in different types of gear for athletes, bikers, sweaty and stretchy pants lovers, and yoga accessories. Lululemon is a major competitor to Nike and Under Armour. This Canadian company generated revenue of $2,648 million in 2018. According to craft.co, Lululemon has a capitalization of $17.5 billion.
Skechers USA Inc. is a lifestyle and performance footwear brand founded in 1992. Its headquarters are situated in Manhattan Beach, California. Skechers is a designer, manufacturer, and marketer of athletic, casual, and performance-focused footwear for men, women, and children in more than 170 countries. Skechers is the top performer in the United States and one of the top Nike competitors. Skechers generated $4.5 billion in 2017 and reported 16% sales growth, which is an alarming factor for Nike and Lululemon Athletica.
ASICS Corporation is a Japanese company that designs, manufactures, and sells footwear and sports equipment. In recent years, the ASICS running shoe brand has been ranked among the top footwear brands in the market. ASICS is the top competitor to Nike.
Vans is owned by VF Corporation. It is a manufacturer of skateboard footwear and related apparel and accessories for women, men, and children. Vans is the leading competitor to Nike and Puma. It was founded in 1966 and headquartered in Santa Ana, California.
I have tried to provide a complete list of Nike competitors.