Sales of performance running footwear in the U.S. grew by roughly one-third in the first six months of the year and brands are cashing in.
After seeing a 95% year-over-year sales increase to $213.1 million in its latest quarter, athletic shoe company Hoka One One is set to open its first brick-and-mortar stores in New York and California on Wednesday.
The Hoka brand, best known for its cushioned running shoes, is opening the stores as the running category sees explosive growth.
- Brooks Running recorded a 75% increase in year-over-year revenue, also claiming the top spot in the women’s performance running industry for another quarter. It expects 40% growth in European markets this year, with plans to launch in China in 2022.
- In April, ON Running announced plans to go public in the fall at a $5 billion valuation. Swiss tennis star Roger Federer invested $54 million in the brand after 20 years with Nike.
- Women’s athletic footwear grew by about 40% during the first half of 2021 compared to 2020.
Hoka parent company Deckers, which includes Teva, Sanuk, Ugg, and Kollaburra in its portfolio, saw sales rise 78% to $504.7 million in the first quarter.
From opening stores to new product lines, brands are doing everything they can to capitalize on the growing global athletic footwear market, which is estimated to reach $66.31 billion by 2027.