March 22, 2023 Jastra Kranjec.
As one of the largest and most recognizable brands on the planet, Nike holds the biggest share of the global sportswear market.
The sportswear titan has seen years of continuous revenue growth, only interrupted by COVID-19 in 2020. But with its apparel sales reaching new record highs in 2022, Nike has by far outperformed its competitors.
According to data presented by SportsLens.com, Nike grossed a jaw-dropping $78.3bn from apparel sales in the last six years, almost as Adidas and Puma combined.
Nike’s Apparel Sales Revenue Jumped 50% in Six Years, Adidas Dropped to 2017 Levels
No brand stands close to Nike in the sports apparel industry. The US-based sportswear giant has acquired several footwear and apparel companies over the years, including Converse, Cole Haan, Starter, Bauer Hockey, Umbro, and Hurley International.
Today, the company sponsors many high-profile professional athletes like Cristiano Ronaldo, Rafael Nadal, Lebron James, and Tiger Woods and provides uniforms for many top sports teams, including Manchester United, Barcelona, Chelsea and Paris Saint-Germain.
These heavy deals have helped Nike’s apparel sales revenue to grow by a massive 50% in six years, rising from around $9bn in 2016 to $13.5bn last year.
Impressive 2022 sales figures came after the company reported one of its best quarterly revenue growths in December due to record demand during the Black Friday and Cyber Monday period in North America and the biggest Cyber Week in years in the EMEA region.
Nike used steeper discounts and increased promotions to reduce excess inventory and to attract recession-wary customers. On the other hand, its biggest rival, Addidas, saw its apparel sales plunge in 2022.
Last year, Europe’s largest sportswear manufacturer and the second-largest globally cut its ties with Ye, halting sales of the shoes and apparel line that had brought in billions and pushed up the company’s profit margin for years.
As a result, Adidas’ annual apparel sales revenue dropped by 5% to $9.3bn, or back to 2017 levels.
Statistics show German sports brands grossed around $65bn from apparel sales in the last six years or 16% less than Nike.
Puma saw the Biggest Six-Year Revenue Growth of 79%
Although far behind the two sportswear titans, Puma saw much bigger revenue growth in the past six years. Statistics show the world’s third-largest sportswear manufacturer grossed over $1.4bn from apparel sales in 2016. Sales figures continued growing in the following years despite COVID-19 and hit over $2.4bn in 2020. After an impressive 17% year-over-year revenue growth in 2021, Puma’s apparel sales jumped by another 8% in 2022. Last year, the company grossed over $3bn from apparel sales, 79% more than in 2016, pushing its six-year revenue to over $15.7bn.