Brooks Running sees record global growth as it eyes further international expansion
today Oct 24, 2018
Seattle-based sportswear group Brooks Running Company announced its third-quarter financial results on Tuesday, reporting a record 29% increase in global revenue, pushed by a particularly strong performance in the footwear category, where sales rose 32%.
The company’s franchise products were behind its progress in footwear, with sales of models such as the Ghost and the Adrenaline GTS increasing 52% and 32%, respectively, year to date. New styles including the Revel, the Levitate, the Bedlam and the Ricochet have also been seeing strong sales since they were introduced.
According to the NPD Group’s Retail Tracking Service, the company managed to grow its dollar share to 12.4% in Q3, placing it at second place among the brands operating in the category.
By region, Brooks saw sales rise 27% in Europe, the Middle East and Africa (EMEA), with Germany, Austria and Switzerland leading the pack. Asia Pacific and Latin America also continued the upwards sales trajectory reported in the region at the beginning of the year, seeing a 25% increase in revenue year-to-date, with particularly strong growth in Australia.
“The growth we’re seeing at Brooks is incredibly exciting because it indicates our brand is resonating with runners who are choosing our gear as they head out the door on their runs,” said Brooks CEO Jim Weber in a release. “We are more focused than ever on delivering the best gear for all who run and inspiring more people around the world to run and be active.”
Over the course of the third quarter, a number of Brooks products also received awards from leading specialty publications such as Runner’s World, Outside Magazine and Women’s Running.
Looking forward, the company is planning further expansion in India, South Korea and Mexico. Brooks relaunched in South Korea in August, opening a flagship in Gangnam-gu that features a retail store, a workout space, corporate offices and a runner’s hub. In India, where the brand launched for the first time earlier this year, Brooks is looking to be available in 20 stores as well as on Amazon India before the end of 2018.
The brand is also set to hit Mexico before the year is out, opening its first flagship store in the country, kicking off retail partnerships with specialty sportswear and department stores, and launching a country-specific branded e-commerce site.
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