November 2, 2023
Brooks Running, a U.S. sporting goods company, has reported a 5% increase in global revenue and a 7% surge in North America year-to-date. The company has been a consistent leader in the adult performance running footwear market, capturing 21.4% market share. This growth can be attributed to Brooks' ability to reach new runners, overcome supply chain disruptions related to Covid-19, and normalize inventory levels.
Brooks introduced the all-new Ghost Max in late September, which quickly became the best-selling style in the company's history. The Ghost Max incorporates high-stack cushioning and GlideRoll rocker technology to provide enhanced protection and support during the gait cycle. In January 2024, Brooks will launch the Glycerin 21, the next generation of the fan-favorite Glycerin franchise. They will also unveil the athlete-tested Hyperion Elite 4 distance racing shoe ahead of the 2024 U.S. Olympic Marathon Team Trials in February. Additionally, the brand announced the Exhilarate-BL at HP Imagine in October, featuring Brooks' 3D-printed 3DNA midsole technology.
Brooks has experienced a 25% year-to-date increase in U.S. e-commerce sales through its direct-to-consumer business. Internationally, the brand has seen a 22% combined year-to-date revenue increase in France and the United Kingdom. They have also achieved market gains in China through regional and omnichannel growth.
To engage the community and provide a dynamic shopping experience, Brooks launched a pop-up store in Los Angeles in August, along with weekly community and fitness programming. The brand has also tripled its distribution facility footprint with new and expanded distribution centers in the U.S. and U.K. to meet the increasing demand across channels. Brooks has forged strategic partnerships with fitness apps like Strava and Joyrun to support athletes and enhance its marketing initiatives.
Brooks Running's revenue jump and expansion plans in 2024 demonstrate its success in the competitive marketplace. The company's focus on delivering high-quality products that meet the needs of runners and active individuals has contributed to its growth. With new product launches, e-commerce growth, international market gains, community engagement, and strategic partnerships, Brooks is well-positioned for continued success.
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