The global footwear business has been expanding by leaps and bounds over the past several decades, thanks to the radical rise in consumer paying patterns and a shift in consumer attitude that puts style on an equal footing as a convenience.
The non-athletic segment will account for the most significant growth in the footwear market owing to developing requirements, a thriving consumer support of internet sales, and more express shipping services. Consequently, the footwear business is anticipated to expand at a CAGR of more than 2 % by 2024. But, first, let’s identify the opportunities and market positions of shoe brands around the globe.
1. New Balance: The Boston-based multinational corporation New Balance shuns celebrity endorsement by highlighting lesser-known athletes. It manufactures men’s and women’s basketball, tennis, golf, hiking, running, and cross-training. The company’s product portfolio includes Aravon shoes for comfort performance, Warrior hockey gear, PF Flyers footwear, and Brine, a field hockey, lacrosse, soccer, and volleyball leader.
2. Nike: Being one of the world’s biggest shoe brands, Nike’s ‘Just do It’ marketing campaign featuring Colin Kaepernick has proven beneficial for the company. It helped grow its online sales of footwear products across the world. Nike also arranges its flagship products with shoes like Nike Air Max 270, ZoomX, React, and VaporMax.
3. ASICS: ASICS is Japan’s top shoe firm and purveyor of other equipment. Founded in 1949, ASICS has been a global footwear brand. It has launched its new product, ‘Solution Speed’ tennis footwear, designed to enhance agility and speed. It features three of the company’s advanced technologies: Court Specific FlyteFoam, TWISTRUSS, and FLEXION FIT.
4. Adidas: With its origins in Germany, Adidas has become one of the premium shoe brands in the world. The shoe brand has soared to the extreme maxima of success. It has bestowed a collective image of the street, pop-culture, sports, music, and other fashion statements, explaining its existence through its exceptional communication strategies.
5. Kering (PUMA): Kering is a business leader in attire and accessories. It acquires an aggregate of robust lifestyle, luxury, and sports brands, including Gucci, Bottega Veneta, Volcom, and Puma. Its Puma brand provides an excellent and versatile collection of footwear, apparel, and accessories. For example, Puma’s motorsports collection combines co-branded sneakers with leaders like Ducati and Ferrari. In addition, the brand’s technologically advanced sneaker, Faas, is endorsed by the fastest man in the world, Usain Bolt.
6. Bata: Bata has been the most appreciated shoe brand in the world for more than 130 years. Today, the organization has over 60 countries with more than 5000 retail stores, 24 fully-owned factories, and reliable e-commerce operations. Bata blends the best of regional and global, effectively catering to the necessities of consumers across the world, presenting it as one of the world’s fastest-growing shoe companies.
7. Skechers: Skechers is one of the fastest-growing shoe companies in the US since 1992. It has been focusing on trendy and casual styles for men and women between 19 and 40. The award-winning billion-dollar company’s achievement stems from its high-quality merchandise offerings, cutting-edge print and TV advertising, and diversified national and global distribution courses. Skechers’ products carry boots, sneakers, training shoes, sandals, oxfords, and semi-dressy shoes.
8. Burberry: Burberry is a well-established luxury clothing manufacturer, readymade fashion outerwear, sunglasses, shoes, fragrances, cosmetics, and additional accessories for women, men, and children. It is the most prominent brand in the EU, Australia, the US, and various parts of Asia. The British designer company Burberry recently acquired a leather-good facility from its Italian partner CF&P.
9. Fila: Originating as a textile firm in Biella, Italy, Fila acronym of Fabbrica Italiana Lapis ed Affin has since evolved into one of the top shoe businesses in the divisions of tennis, soccer, and operating in Asia, Europe, and the Americas. Fila is a leading creator and marketer of footwear, garments, and accessories for sport and recreation with product categories.