{"id":3591,"date":"2023-08-18T23:57:56","date_gmt":"2023-08-18T23:57:56","guid":{"rendered":"https:\/\/souljordan.com\/?p=3591"},"modified":"2023-08-18T23:57:56","modified_gmt":"2023-08-18T23:57:56","slug":"top-popular-sneaker-brands","status":"publish","type":"post","link":"https:\/\/souljordan.com\/top-popular-sneaker-brands\/","title":{"rendered":"Top Popular Sneaker Brands"},"content":{"rendered":"
The global sneakers market \u2014excluding purely functional athletic footwear\u2014 is now valued at $75 billion and expected to hit nearly $100 billion in annual sales by 2028, according to estimates from Statista Market Insights<\/a>.<\/p>\n In an industry that is dominated by a few popular sneaker brands, Nike’s shoes stand out as a top choice for celebrities, athletes, and fitness enthusiasts.<\/p>\n Nike<\/a> is the world\u2019s most popular sneaker brand with the largest market share, according to an August industry report from market insights company Statista. The ranking is based on the estimated global market share of the world\u2019s most popular brands from the previous year, excluding purely functional athletic footwear and focusing on versatile footwear brands. Here is a look at the five sneaker brands that make it to the top five.<\/p>\n 1-NIKE<\/strong><\/p>\n With a market share of 18%, Nike snapped the top rank in the global sneaker landscape, based on the latest findings by Statista.<\/p>\n Originally known as Blue Ribbon Sports, the company changed its name to Nike in 1971. Nike, founded by William Jay Bowerman and Philip H. Knight in 1964, is the owner of several brands, including Converse and Jordan.<\/p>\n Nike’s popularity has expanded substantially beyond the US in recent years, with non-U.S. markets<\/a> now bringing in a 60% of the company\u2019s revenue for the fiscal year that ended on May 31, 2022.<\/p>\n The latest quarter results showed that the US-headquartered athletic apparel retailer\u2019s performance improved in the Greater China region, a key growth market where the company seems to be regaining its ground. Revenue in the Asian country was $1.8 billion for the March-May quarter, topping analysts\u2019 projections.<\/p>\n Nike is not yet immune to overall softness in the footwear and apparel categories<\/a> that have hit its rivals. Nike\u2019s gross <\/a>margins fell 1.4 percentage points during the latest quarter ended May 2023 to 43.6%, weighing on its earnings during the period. Net income for the three-month period was $1.03 billion, down from $1.44 billion a year earlier.<\/p>\n Nike expects the pressure to lift. The company anticipates \u201cabove average margin improvement\u201d in fiscal 2024, Chief Financial Officer Matthew Friend said in June. The retailer also expects revenue to grow by mid-single digits.<\/p>\n For its latest fiscal year, Nike\u2019s sales were $51.2 billion, up 10% compared to the prior year. The figure also surpassed analysts\u2019 expectations of $50.99 billion, according to Refinitiv.<\/p>\n 2-JORDAN<\/strong><\/p>\n Jordan Brand, a subsidiary of Nike, came in second place as the world\u2019s most popular sneaker brand, commanding 11% of the market, according to Statista.<\/p>\n In the US, Jordan is one of the most well-known sneaker brands<\/a>, with brand awareness of 89%.\u00a0<\/strong><\/p>\n Jordan brand, whose foundation was the signing of NBA icon Michael Jordan to an endorsement contract in 1984, was the top performer<\/a> of Nike\u2019s divisions with a 29% sales gain year on year to $6.6 billion<\/a> for the fiscal year ended<\/a> May 2023. Jordan sales have tripled since 2015.<\/p>\n The relationship between Nike and Jordan has been featured<\/a> in a film, directed by Ben Affleck, who also plays Nike co-founder Phil Knight. The movie, which premiered last April, tackles how Nike\u2019s basketball department signed Jordan in his rookie year. It earned $3.29 million on its opening day and $14.45 million during its opening weekend at the domestic box office.<\/p>\n