Top 19 Nike competitors

Nike is the leading sports footwear brands in the world and is known as one of the top 3 amongst the trio leading the sports footwear market across the world – Adidas, Reebok and Nike. All three of them are known and loved for their marketing strategies and the way they connect to their customers.

Adidas and Reebok are the top two Nike competitors but there are many others in the sports footwear market as well. Many of the top sports footwear companies have concentrated on other products besides shoes such as apparels, deodarants and perfumes, sports accessories etc.

Nike has a worldwide revenue of $51.2 billion as of 2023. It is leading the footwear market and has a brand valuation at 31 billion U.S. dollars as of 2023. In the total sale of Nike, the footwear sale is maximum. It has a huge distribution network across the globe from which it sells a combination of products. It has brilliant strategic tie ups with football, cricket and other sports teams.

Let us have a look at top Nike Competitors and conduct a competition analysis of Nike.

1) Adidas

• Product Type: Footwear, apparel, and accessories
• Industry: Sportswear
• Founded: 1924, Herzogenaurach, Germany
• Founders: Adolf “Adi” Dassler and Rudolf Dassler
• Headquarters: Herzogenaurach, Germany
• Area served: Worldwide
• Current CEO: Kasper Rorsted
• Number of employees: 59,258 (2022)
• Revenue: $5.661B (March 31, 2023)
• Market capitalization:$38.33B (August 18, 2023)

Adidas is one of the topmost Nike Competitors. One of the key advantages of Adidas is that it operates via both – the Adidas brand and also has a strong subsidiary in Reebok. The combination of both gives a strong valuation to Adidas as a top competitor of Nike. Not only does Adidas compete with Nike on the basis of footwear, it also competes on the basis of clothing and accessories. To know more about Adidas, read marketing mix of Adidas and SWOT of Adidas.

The company’s operating profit amounted to € 60 million (2022: € 437 million) in the quarter March 31, 2023. Adidas net income for the quarter ending March 31, 2023 was $-0.042B.

2) Reebok

• Product Type: Footwear, apparel, and accessories
• Industry: Sportswear
• Founded: 1895, Bolton, England
• Founders: Joseph William Foster and his son, J.W. Foster II
• Headquarters: Boston, Massachusetts, United States
• Area served: Worldwide
• Current CEO: Matt O’Toole
• Number of employees: Over 5,000 (2023)
• Parent: Adidas (2005–2021) Authentic Brands Group

Reebok is a subsidiary company of Adidas which operates independently. This is why Reebok can also be considered as an internal competitor to Adidas. Reebok is known for its excellent design for sports footwear. Some of the really cool shoes from Reebok were the Reebok Reezig, Reebok Pump and others. Reebok is known mainly to sponsor kits of various Football, cricket or other events. Reebok is considered the 2nd biggest Nike competitor across the world. To know more about reebok, read the marketing mix of Reebok.

The net sales of the Reebok business under Adidas in 2022 amounted to about 353 million euros. Reebok will see global retail sales of more than $5 billion in 2022.

3) Puma

• Product Type: Footwear, apparel, and accessories
• Industry: Sportswear
• Founded: 1948, Herzogenaurach, Germany
• Founder: Rudolf Dassler
• Headquarters: Herzogenaurach, Germany
• Area served: Worldwide
• Current CEO: Björn Gulden
• Number of employees: 18,071  (2022)
• Revenue: €2.12 billion (Q2, 2023)
• Market capitalization: $10.32 Billion (August 2023)

Puma is the third Nike competitor which is known for its running shoes as well as apparels and Clothing. Interestingly, the founder of Adidas and the founder of Puma were brothers. However, they had falling out long back in 1948, which gave rise to two major footwear brands – Adidas and Puma. It is quite clear that Adidas is far ahead then Puma. But globally, Puma is still one of the strongest Nike competitors. It lacks for an equal level of sports sponsorships which Adidas and Nike have. But it is evident from the revenue generated by Puma that the brand is loved by many. To know more about Puma, read the Marketing mix of Puma.

In January 2023, Puma was named a Top Employer globally, as well as in four regions and 22 countries.

Puma generated a Net income of € 117 million in the first quarter of 2023. Sales increase by 14.4% currency  to € 2,188 million.  Puma achieved its highest annual sales and EBIT ever in 2022.

4) Fila

• Product Type: Footwear, apparel, and accessories
• Industry: Sportswear
• Founded: 1911, Biella, Italy
• Founders: Fila brothers
• Headquarters: Seoul, South Korea
• Area served: Worldwide
• Current CEO: Keun-Chang Yoon
• Number of employees: Over 11,000 (2023)
• Revenue: KRW 1.11 trillion( Q1, 2023)
• Market capitalization: $1.66 Billion( August 2023)

Fila is also one of the largest manufacturing companies of Sports footwear and is one of the top competitors of Nike. However, Fila is not as premium as Nike and its products are known be cheaper then the top three brands. It is more into penetrative pricing and promotes products which are good in quality at lower prices. It is known more for its cost advantage then its design or differentiation advantage. Fila originated from Italy but in 2007, it was taken over by Fila Korea, resulting in the complete Fila group operating from South Korea.

The brand has over 100 stores all over the world and has a strong legacy since its inception. The Net Profit was Euro 5.0 million. Fila brand revenues were 233.2 billion in the first quarter of 2023.

5) Converse

• Product Type: Footwear, apparel, and accessories
• Industry: Footwear
• Founded: 1908, Malden, Massachusetts, United States
• Founder: Marquis Mills Converse
• Headquarters: Boston, Massachusetts, United States
• Area served: Worldwide
• Current CEO: Jared Carver
• Number of employees: Over 1,800 (2023)
• Revenue: 2.43 billion U.S. dollars (May 31, 2023)
• Market share:  1.76%
• Parent: Nike, Inc. (2003–present)

Converse shoes are known more for their unique style and looks rather than their sporting abilities. Do a google query on “how to wear converse sneakers” and you will find many article. That’s how much people love wearing their converse shoes. Converse’s portfolio includes products under the Chuck Taylor All-Star, Cons, Jack Purcell, One Star, and Star Chevron trademarks.

Everyone loves how a converse shoe looks on their jeans or in casual clothing. This is a company which has made footwear beautiful. Besides casual shoes, Converse is also known for its sports shoes line up, especially for tennis shoes and sneakers. It has launched its clothing line up as well. It has a whopping revenue of $2.43 billion from across the world. But majority of it is made up from its casual shoes line up. To know more about Converse, read the Marketing mix of Converse.

Converse has a wide market worldwide, operating in more than 160 countries around the world.

6) New balance

• Product Type: Footwear, apparel, and accessories
• Industry: Footwear
• Founded: 1906, Boston, Massachusetts, United States
• Founder: William J. Riley
• Headquarters: Boston, Massachusetts, United States
• Area served: Worldwide
• Current CEO: Robert DeMartini
• Number of employees: 6,500  (2023)
• Revenue: $5.3 billion (2022)
• Market share:  13.8%

New Balance is a premium sports shoe manufacture which is much costlier then Adidas, Reebok or Nike. It is a strong Nike competitor in the US and the UK, from where it derives its major revenues. New balance shoes are costlier because it carries out all its manufacturing within the US or UK, and does not export the manufacturing like Nike or Adidas group.

New Balance is also involved in the sale of Apparels but the sale of footwear is far more then apparels. New Balance is known to take part in sponsorships of Olympic sports, cricket, basketball, cycling and many others. It is also known for innovative design as its shoes are far advanced in design then any of its competitors – another reason that New balance demands a premium and is one of the toughest Nike competitors in US or UK.

New Balance currently has five manufacturing facilities in the United States. New Balance had a 3.4% market share in the US sneaker market in 2022, making it the fifth-largest sneaker brand in the country in terms of dollar sales. New Balance said its worldwide sales totaled $4.4 billion last year.

7) Under armour

• Product Type: Footwear, apparel, and accessories
• Industry: Sportswear
• Founded: 1996, Washington, D.C., United States
• Founder: Kevin Plank
• Headquarters: Baltimore, Maryland, United States
• Area served: Worldwide
• Current CEO: Stephanie L. Rupp
• Number of employees: Over 17,000 (2023)
• Revenue: $1,317 Millions (June 30, 2023)
• Market capitalization: $3.13B (August 18, 2023)

Under armour has a fantastic brand valuation because of its fantastic sales in the US market. Under armour is the official uniforms provider for American football, Basketball as well as American Soccer. Besides this, it has a wide product portfolio comprising or Athletic shoes, Apparels like T-shirts, hoodies, pants and even protective gear for sports. It has presence in more then 50 countries across the globe and is known to have a premium brand image. Under armour is also known for its product placements across many television serials and movies.

Under Armour generated approximately two-thirds of its net sales from North America in 2023, with the remaining one-third coming from other regions worldwide. Under Armour Quarterly Net Income as of June 30, 2023 is $9 million

8) K-swiss

• Product Type: Footwear
• Industry: Footwear
• Founded: 1966, Los Angeles, California, United States
• Founders: two Swiss brothers, Art, and Ernie Brunner
• Headquarters: Westlake Village, California, United States
• Area served: Worldwide
• Current CEO: Petr Mrazek
• Parent: Xtep

K-swiss is again an American footwear brand but one which is concentrated towards tennis shoes and Sneakers. It specialises in these two types of sporting shoes. Besides the shoes, K-swiss has its own clothing line up and apparels. K-swiss carried out a rebranding exercise in 2014 to target itself as America’s heritage tennis brand. The company wants itself to be recognized as the go to brand for Tennis players and Tennis lovers. It was founded in 1966 and is currently owned by Chinese sports equipment manufacturing company Xtep.

9) Asics

• Product Type: Footwear, apparel, and accessories
• Industry: Footwear
• Founded: 1949, Onitsuka, Japan
• Founder: Kihachiro Onitsuka
• Headquarters: Kobe, Japan
• Area served: Worldwide
• Current CEO: Yasuhito Hirota
• Number of employees: 8,886(2022)
• Revenue: $1.157B (March 31, 2023)
• Market capitalization: $6.58B (August 18, 2023)

ASICS is a brand originating out of Japan and is known for its varied design of sports shoes. It has major concentration on the Asian markets and on Australis. Besides these 2, ASICS also sells its product to the UK, the USA and several other countries. Asics has a plethora of sponsorships up its sleeve majority of it being in the US, UK or Australia where it is concentrated. It has sponsored cricket and football teams, hockey, tennis, Rugby, Netball, swimming and many others. Today, ASICS is recognized as one of the world’s most influential sports brands, known for its high-quality footwear, apparel, and accessories

ASICS net income for the quarter ending March 31, 2023 was $0.124B. ASICS gross profit for the quarter ending March 31, 2023 was $0.581B.

10) Li Ning

• Product Type: Footwear, apparel, and accessories
• Industry: Sportswear
• Founded: 1990, Beijing, China
• Founder: Li Ning
• Headquarters: Beijing, China
• Area served: Worldwide
• Current CEO: Li Ning
• Revenue: RMB25.80 billion (2022)
• Number of emloyees: 4,610 employees (2022)

Li Ning is known to be amongst the top Nike competitors because not only does it manufacture sports shoes, it also manufactures sporting goods – majorly Badminton racquets, ping pong equipment as well as scarves and gloves for various sporting events. It is known to be very good in its apparel line up. Li Ning originates from China has a major focus on its home ground. Because the Asian market is large, China being the largest amongst them, Li Ning has a great chance to become a top Nike Competitor in the next few years. The overall cost of sales of the Group amounted to RMB13.32 billion in 2022.

11) Vans

• Product Type: Footwear, apparel, and accessories
• Industry: Footwear
• Founded: 1966, Anaheim, California, United States
• Founders: Paul Van Doren, James Van Doren, Gordon Lee, and Serge D’Elia
• Headquarters: Costa Mesa, California, United States
• Area served: Worldwide
• Current CEO: Steve Van Doren
• Revenue: $5 billion  (2023)
• Parent: VF Outdoor

Vans is an American manufacturer of skateboarding shoes and related apparel, established in Anaheim, California, and owned by VF Corporation. Vans has a growing apparel and accessories category, which is predicted to hit a revenue target of $1 billion by 2023. Naturally, this makes Vans a Nike competitor.

Vans also sponsors surf, snowboarding, BMX, and motocross teams. Vans has a rich history of 50 years of “Off The Wall” heritage. The company started as a small shoe manufacturer and became a global brand that straddles the line between a brand for the everyman and the tastemaker.

Vans is known for its iconic footwear silhouettes and designs that cater to the needs of skaters and the fashionable youth. The brand has expanded its product line to include apparel for both men and women. Vans is a symbol of quality, affordable shoes that meet the needs and wants of its target market. Some of their most popular models include the Sk8-Hi, Old Skool, and Authentic.

12) Skechers

• Product Type: Footwear, apparel, and accessories
• Industry: Footwear
• Founded: 1992, Manhattan Beach, California, United States
• Founder: Robert Greenberg
• Headquarters: Manhattan Beach, California, United States
• Area served: Worldwide
• Current CEO: Michael Greenberg
• Number of employees: 15,100 (2022)
• Revenue: $2.013B (June 30, 2023)
• Market capitalization: $7.9B (August 18, 2023)

Skechers USA, Inc. is an American multinational footwear company founded in 1992 and headquartered in Manhattan Beach, California. Skechers offers one of the largest selections of lifestyle footwear that appeals to a broad range of consumers. Skechers is the third largest footwear brand in the United States by revenue. In 2023, Skechers had its debut on the Fortune 500. Skechers is now a global leader in footwear with more than 3,000 styles designed, developed, and marketed for men, women, and children.

Skechers has huge brand endorsements and promotions. Skechers has promoted its products with celebrities including singers Ava Max and Cha Eun-woo; television personalities Martha Stewart, Brooke Burke, and Amanda Kloots; baseball player Clayton Kershaw and boxer Sugar Ray Leonard; footballers Jamie Redknapp and Michael Ballack; and American football players Tony Romo, Howie Long, and Cris Carter.

Skechers U.S.A net income for the quarter ending June 30, 2023 was $0.153B. Skechers U.S.A gross profit for the quarter ending June 30, 2023 was $1.061B.

13) Brooks

• Product Type: Footwear, apparel, and accessories
• Industry: Footwear
• Founded: 1914, Seattle, Washington, United States
• Founder: John A. Brooks
• Headquarters: Seattle, Washington, United States
• Area served: Worldwide
• Current CEO: Jim Weber
• Market share: 23%

Brooks running is an American  sports equipment company that designs and markets high-performance men’s and women’s running shoes, apparel, and accessories in more than 60 countries worldwide. Brooks Running was founded in 1914 and is one of the oldest sports footwear companies. Brooks shoes have been named “Best Women’s Running Shoe” and “Best Winter Running Shoe” by publications including Runner’s World and Sports Illustrated. Brooks running is headquartered in Seattle, Washington.

Brooks Running achieved record global revenue of $1.2 billion in 2022, up 6% over 2021 with growth in all regions. Brooks was the leading brand in the running specialty channel in 2021 and landed the top market share spot in adult running shoes in the athletic specialty and sporting goods channel.

14) Lululemon

• Product Type: Sportswear
• Industry: Retail
• Founded: 1998
• Founder: Chip Wilson
• Headquarters: Vancouver, British Columbia, Canada
• Area served: Worldwide
• Revenue:$2.001B (April 30, 2023)
• Number of employees: 34,000 (Jan 2023)
• Market capitalization: $47.81B (August 17, 2023)

Lululemon is a Canadian multinational athletic apparel retailer that was founded in 1998 by Chip Wilson in Vancouver. Lululemon is known for its superb quality and performance apparel that is designed for yoga and other athletic activities. The brand has grown to include both women’s and men’s athletic wear, as well as hair accessories, bags, yoga mats, water bottles, and personal care products such as deodorant and dry shampoo.

Lululemon has trademarked its original fabric, Luon, which includes a higher-than-average amount of nylon microfiber, and has developed other fabrics that are geared toward specific uses.

Lululemon Athletica Inc net income for the quarter ending April 30, 2023 was $0.290B. Its gross profit $1.151B. Lululemon Athletica Inc has a market share of 6.84% as of 2023. The Company opened 23 net new company-operated stores during the third quarter, ending with 623 stores.

15) Anta

• Product Type: Footwear, apparel, and accessories
• Industry: Sportswear
• Founded: 1991, Jinjiang, China
• Founder: Ding Shizhong
• Headquarters: Jinjiang, China
• Area served: Worldwide
• Current CEO: Ding Shizhong
• Number of employees: Over 70,000 (2023)
• Revenue: RMB 53.65 billion (2022)
• Market share: 20.4%

ANTA is a Chinese sportswear company that was founded in 1994 in Jinjiang, Fujian province, China. The company specializes in the design, production, marketing, and operation of sportswear, accessories, and other sports equipment. Anta offers a wide range of products, including basketball shoes and apparel, running shoes and apparel, lifestyle, and outdoor.  The company is the third-largest sports brand in the world and could soon overtake Adidas in market value.

Net profit for 2022 was CNY7.59 billion, slightly lower from CNY7.72 billion the previous year due to higher costs of sales and other expenses.The gross profit margin was 53.6% of sales for the year in 2022.

16) VF Corporation

• Product Type: Footwear, apparel, and accessories
• Industry: Apparel and footwear
• Founded: 1899, Reading, Pennsylvania, United States
• Founders: John Barbey and a group of investors
• Headquarters: Denver, Colorado, United States
• Area served: Worldwide
• Current CEO: Steven Rendle
• Number of employees: 33,000(2023)
• Revenue: $2.086B (June 30, 2023)
• Market capitalization: $7.89B (August 18, 2023)

VF Corporation is a global apparel, footwear, and accessories company that was founded in 1899. The company has a diverse portfolio of iconic outdoor and activity-based lifestyle and workwear brands, including The North Face, Vans, Timberland, and Lee.  VF Corporation controls 55% of the U.S. backpack market with its brands, and it is the world’s largest publicly traded apparel company.

Royalty income was $66.6 million in Fiscal 2022 (less than 1% of total revenues), primarily from the Dickies®, Vans and Timberland® brands. V.F net income for the quarter ending June 30, 2023 was $-0.057B. V.F gross profit for the quarter ending June 30, 2023 was $1.101B. VF has a market share of 7.15%.

17) Gymshark

• Product Type: Fitness apparel
• Industry: Sportswear
• Founded: 2012, Solihull, United Kingdom
• Founders: Ben Francis and Lewis Morgan
• Headquarters: Solihull, United Kingdom
• Area served: Worldwide
• Current CEO: Ben Francis
• Number of employees: Over 4,000 (2023)

Gymshark is a UK-based fitness apparel and accessories manufacturer and retailer that was founded in 2012. The company’s mission is to unite the conditioning community by providing high-quality workout gear that is accessible and inclusive to everyone.  Gymshark’s head office is located in Solihull, England, and it has offices in London, Hong Kong, Mauritius, and Denver.

The company is expanding globally and opened its first store on Regent Street in London on October 29, 2022.Gymshark sells its products in 180 countries in 13 languages across 14 of its online stores.

Gymshark revenue increased 21% in 2022 to more than $600 million, compared to $502 million in 2021. Profits were down to $34 million in 2022. Sales grew to £484 million. Gross profit increased to £315.1 million.

18) Foot Locker

• Product Type: Footwear and apparel
• Industry: Footwear and apparel retail
• Founded: 1974, City of Industry, California, United States
• Founders: Harry Haslam and Rodney McMullen
• Headquarters: New York City, New York, United States
• Area served: Worldwide
• Current CEO: Mary Dillon
• Revenue: $1,931 (April 30, 2023)
• Number of employees: 46,880 (2023)
• Market capitalization: $2.36B (August 2023)

Foot Locker, Inc. is a leading footwear and apparel retailer that operates approximately in 26 countries across North America, Europe, Asia, Australia, and New Zealand. The company specializes in selling athletic footwear and sportswear from popular brands such as Nike and Reebok. Foot Locker is known for staying ahead of its competition and offering a wide range of sizes, colors, and quantities for customers.

As of January 28, 2023, Foot Locker had a total of 2,714 stores in operation around the world. As of August 2, 2023, there are 869 Foot Locker stores in the United States.

Foot Locker Annual Gross Profit as of 2023 is $2,804 million.Foot Locker Annual Net Income as of 2023 is $342million.

19) Steve Madden

• Product Type: Footwear, apparel, and accessories
• Industry: Fashion
• Founded: 1990, Long Island City, New York, United States
• Founder: Steve Madden
• Headquarters: Long Island City, New York, United States
• Area served: Worldwide
• Current CEO: Edward R. Rosenfeld
• Revenue: $463.8 million (March 31, 2023)
• Number of employees: 4,000 (2022)
• Market capitalization: $2.57B (August 18, 2023)

Steve Madden is an American fashion brand that designs, sources, and markets fashion-forward footwear, accessories, and apparel for men, women, and children. The brand is known for its trendy designs and affordable prices. Steve Madden offers a wide variety of shoes for men and women, including boots, sandals, sneakers, heels, and flats. The brand also offers a range of handbags for women, including totes, crossbody bags, shoulder bags, and clutches, as well as accessories for both men and women, including hats, scarves, jewelry, and wallets.

Steve Madden is not considered a luxury brand, but rather an affordable, mid-range luxury brand. The brand has loyal customers both in the United States and across the world and has managed to stand the test of time. Steve Madden also operates over 220 retail stores worldwide including eight Internet stores. In addition to marketing products under its own brands including Steve Madden®, Dolce Vita®, Betsey Johnson®, Blondo®, GREATS®, BB Dakota® and Mad Love®, Steve Madden is a licensee of various brands, including Anne Klein® and Superga®.

Steven Madden Annual Gross Profit in 2023 (June 30, 2023)  was $190 millions. Steven Madden Annual Net Income in 2023 (June 30, 2023) was $35million.

Above are all the top Nike Competitors. Nike is far ahead of even the 2nd highest competitor which is Adidas and it is only growing in popularity. One of the reasons for Nike’s popularity is its deep roots in western countries, where it gets its major margins from.

Can you think of any other examples of Nike competitors? We would love to hear from you.

Liked this post? Check out the complete series on Competitors