Remember when back in 2012, rapper Kanye West somehow predicted that his Yeezys were going to “jump over the Jumpman,” in his song called New God Flow. Well, on Monday, everybody remembered these words when Matt Powell, an industry analyst, tweeted that Adidas has overtaken Jordan and it’s now the second most-sold brand when it comes to footwear in the United States. He even mentioned that he would have never thought this would happen in his lifetime. Also, it’s worth mentioning that West’s line of shoes doesn’t have too much to do with this growth in sales.
Adidas overtakes Jordan for the no.2 spot
Adidas has overtaken Jordan as the #2 brand in U.S. sport footwear. This is an achievement I never thought I would see in my lifetime.
— Matt Powell (@NPDMattPowell) September 18, 2017
According to reports that Powell obtained, in August, sales of Adidas footwear increased by over a half. As for the market share, that grew too, to 13%. Powell thinks that this success comes from the fact that Adidas has been focusing on those types of shoes that sold the best. For example, the Foot Locker chain. Last month, the sales for them doubled.
The sales for women footwear doubled too this month, and there was a total of 3% increase in this category. According to Powell, Nike, the leading company when it comes to footwear, has been struggling here too. And actually, not only here. In the second quarter, the company had to deal with slow sales growth, something that they had never expected.
Moreover, recently, the company announced that it’s going to apply a restructuring plan. This means that 2% of its international working force is going to receive a cut. In its headquarters in Beaverton, about 700 workers are going to remain jobless. Experts have also been saying that investors should not buy Nike, no matter how tempting it may be.
A time of struggle for Nike
Now, it seems like for the first time in 30 years, Nike doesn’t occupy the first two spots on the list of best-selling brands. However, when it comes to footwear, Nike is still the reigning champion. Powell said that shoe chains saw an increase in sales in August, normally a good month for sales. As for basketball footwear sales, which have been going down lately, things are not looking great. Now, people are wondering whether or not it would make a return.
Image source: pixabay