Adidas Overtakes Jordan To Become #2 Sneaker Brand In US: NPD
00:29, Sep 20, 2017
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"I've never seen a brand in the sneaker industry grow this fast", said NPD Group sports industry analyst Matt Powell. Adidas now controls a 13 percent slice of the U.S. sneaker business.
And, according to the NPD Group which tracks sneaker sales, Adidas sales jumped by more than 50 percent in August 2017 relative to the same month previous year, boosting their overall market 13 percent, due to their tireless efforts.
NPD Group analyst Matt Powell calls Adidas' rise to No. 2 in US sneaker sales an achievement he never thought he'd see in his lifetime.
According to the NPD Group, Adidas sales in athletic footwear has grown to 13 percent, marking higher than the previous 1.7 percent reported in June.
We all know that adidas has been making major strides over the last few years and has been soaring in popularity thanks in big part to Kanye West and their invention of Boost technology.
"Nike let the Jordan business get overheated, which slowed down the liquidations", Powell told Benzinga, "The sentiment on Twitter is that Jordan is not cool anymore, which is overblown".
The Jordan brand has declined as it continues to lose its appeal of exclusivity, an allure that it retained for decades.
Over the same eight-month period, per Rovell, Nike's share of the sneaker market dropped from 39 to 37 percent. Now that Jordan is rolling out wider releases for its once coveted retro products, which used to sell out immediately.
"They are really customer-centric", Powell added of Adidas. Jordan increased from 9.4 percent in 2016 to a similar 9.5 percent this year.
Shares of Adidas are up 31.3 percent over the past year, while shares of Nike are down 3 percent.
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