Sportswear and sports gear industry is rapidly increasing its reach among fitness-conscious masses beyond the boundaries of sports arena. Nike has committed $110 million to NBA legend Michael Jordan in a brand endorsement deal. In India, European multinational sports and fitness wear brand Puma signed Virat Kohli for Rs. 110 crore – the highest ever brand commitment in Indian sports history.
The global sports apparel market has witnessed significant growth owing to growing health awareness and increasing fitness trend with the millennial generation taking to aerobics, swimming, running, gymnasiums and yoga-like fitness drills. Then there is steady growth trend in sports competitions and events.
According to an alliedmarketresearch.com report, the global sports apparel market is expected to garner $184.6 billion by 2020, registering a CAGR of 4.3% during the 2015 – 2020 forecast periods. The combined revenue for the top ten sports brands during 2017 is projected to be over $85,000 million. The difference between the No. 1 Nike and its subsidiary at the tenth position – Converse – is more than 16 times.
Insidesport.co in a series of year’s business data intelligence reports brings to its readers the top 10 sports brands of the year. Surprisingly, Adidas subsidiary Reebok has failed to break into the top ten of the top ten grossers in the sports brand market.
The brand that derives its name from the GREEK GOD OF VICTORY is the clear winner in the global sports and fitness wear market. Nike with a reported value of $15,000,000,000 is rated as the most valuable brand by Forbes.
Adidas, the Adolf Dassler-formed German sportswear brand is driven by the belief that reflects in its “impossible is nothing” campaign. With nearly 25% market share among the top ten brands, Adidas is the second highest grosser for the year behind Nike. Adidas with a brand value of $5,000,000,000 is also placed second on Forbes’ highest-valued sportswear brands.
The official sponsor of the United States team for the 2016 Rio Olympic Games DICK’s Sporting Goods brand operates around 700 stores to retail sporting goods, athletic apparel, sportswear, sports shoes, fitness equipment and a range of bicycles. The Pennsylvania headquartered brand has over the years acquired many small players in the industry.
Converse, the US-based Nike subsidiary primarily produces basketball shoes, lifestyle brand footwear, and apparel. The brand in a $309 million deal in 2003 was acquired by Nike, which also expanded the Converse brand to other businesses apart from shoes, much akin to its other brands. The company sells sportswear in over 160 countries.