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 the name as Nike Inc. on May 30, 1971. Nike have sponsored many renowned sports teams and athletes with its top trademark “Just Do it” and Swoosh logo.
Nike has the annual revenue of $36.4 billion in financial year 2018 with a market capitalization of $120.3 billion and 11000 stores worldwide. It is having more than 73000 employees. The Tax Act offset it revenue growth as Nike net income of $1.9 billion as a result of 54% decrease as compared to previous FY 2017.
Nike is amongst the top three companies i.e. Nike, Adidas and Reebok and these two companies are the top competitors of Nike Inc.
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 takeover both the companies Reebok and Adidas have strong position to compete with Nike in North America. Adidas group consist three subsidiaries i.e. Reebok, Runtastic and TaylorMade. According to this, Adidas is the strong competitor of Nike and the second largest shoemaker in the world. Adidas brand valuation is $14.3 billion and revenue amounted for 21.218 billion (Euro).
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 German company Adidas Group. Reebok manufactures variety of assortment but according to Reebok, customer top rated product is Reebok CrosFit Nano 8. The company considers itself distinctive and authentic with is consumers. Reebok revenue is amounted for $2 billion in 2017.
Puma is a German multinational brand that designs and manufactures variety of athletic and casual footwear, apparels 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 brother and founders of Dassler Brothers Shoes. In 1948, they were agreed to split the company and founded two companies Adidas and Puma. Annual revenue of Puma is amounted $5.5 billion. Puma is considered as Nike competitor in sport footwear and apparels.
Under Armour is founded in 1996 by Kevin Plank headquartered in Baltimore, Maryland, United States. It manufactures casual and sports footwear and apparels. The company is engaged in development, distribution and marketing its product lines worldwide. Under Armour products are used by all levels of college and professional players as well as general consumers who love active lifestyle. The company is a major competitor of Nike. UA generated $5 billion revenue with a market capitalization of $7.7 billion.
New Balance Athletics Inc. also New Balance was founded in 1906 by William J. Riley. New Balance is a Multinational Corporation headquartered in Boston, Massachusetrts, United States. The company produces athletics shoes, sportswear, equipment and apparels. The company differentiate its product line with several technical features like heel counters and blended gel inserts. In the FY 2018 the company was able to generate $4 Billion revenue. New Balance has a premium brand image and amongst one of the top Nike competitors.
Fila is another sportswear manufacturing company and also a top competitor of Nike. Fila is a worldwide leading brand among sportswear and footwear brands like Nike, Puma and Adidas. It is Italian-South Korean Company founded in the year 1911 in Italy. After passing through many ownerships finally purchased by Fila Korea in 2007. It is headquartered in Seoul, South Korea.
A yoga inspired athletic company, Lululemon Athletica makes athletic apparels for women and men. The company deals in different types of gears for athletes, bikers, sweaty and stretchy pants lovers and also many yoga accessories. Lululemon is a major competitor of Nike and Under Armour. This Canadian company granted 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 Headquarter is 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 United States and one of the top Nike competitors. Skechers generated $4.5 billion in 2017 and reported 16% sales growth which in 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 ASICS running shoes brand is ranked among top footwear brands in the market. ASICS is the top competitor of Nike.
Vans is owned by VF Corporation. It is a manufacturer of skateboard footwear and related apparels and accessories for women, men and children. Vans is the leading competitor of Nike and Puma. It is founded in 1966 and headquartered in Santa Ana California.
I have tried to provide a complete list of Nike competitors.