Brooks, which ended 2021 as a billion-dollar brand for the first time, is already seeing momentum bleed into 2022.
The running company is projecting double-digit year-over-year growth in 2022, on top of last year’s $1.11 billion in global revenue, which represented a 31% surge over 2020. In Q1 of 2022, Brooks nabbed 22% of dollar share within the U.S. national performance footwear market across athletic specialty, sporting goods, mid-tier, premium and shoe chain stores, according to The NPD Group’s Total Measured Market tracking service, which analyzes retailers who report to NPD, but not all retailers across the U.S.
The brand’s Ghost and Adrenaline GTS shoes were the top two selling models at U.S. retail and accounted for a combined 14% of the dollar share across all the aforementioned channels, The NPD Group’s tracking service showed.
Throughout 2021, Brooks has consistently grabbed market share from industry leaders including Nike and Adidas in the crucial category of women’s performance, with the Ghost and Adrenaline GTS shoes ranking as top-sellers.
Brooks CEO Jim Weber told FN in a previous interview that he attributes the success in women’s running to offering consumers an “approachable” and “inclusive” brand.
“We’ve had an open tent in terms of welcoming everyone into run and welcoming everyone into our brand,” Weber said.
Like other footwear brands, Brooks was impacted by supply chain slowdowns and factory shutdowns in China and Vietnam last year. Still, the company managed to deliver record results in 2021, with global revenue up 31% over 2020. In North America, revenue was $889.1 million, representing a 33% growth from 2020. The company’s e-commerce channels in North America grew 149% compared to 2019.
“While Vietnam factory closures last year caused us to fall short of fulfilling strong market demand for Brooks in Q1, we remain bullish for substantial growth in 2022,” said Brooks CEO Jim Weber in a statement. “Brooks’ performance products continued to lead with runners and the best is yet to come.”
To build on last year’s momentum, Brooks is innovating its footwear technology and expanding its product offerings. In July, the brand will launch new additions to three acclaimed shoe franchises — the Glycerin 20, Glycerin GTS 20 and Caldera 6 — all of which will include a new nitrogen-infused midsole innovation, DNA Loft v3, from the Brooks BlueLine Lab.
This summer, Brooks will launch the Wire 8 spike shoe, a prototype of which was initially released for Olympic medalist and runner Josh Kerr at the Boston University Last Chance Meet in February.
Throughout the pandemic and beyond, Brooks has reaped the rewards of a nationwide running boom, which has galvanized running-focused brands such as Saucony and Hoka One One.