SEATTLE--(BUSINESS WIRE)--Brooks Running’s global revenue grew 5% and North America revenue increased 7% year to date as the brand reached new runners, recovered from COVID-19-related supply chain disruptions, and normalized inventory levels amidst global economic headwinds. The return of Brooks’ full product and innovation pipeline, coupled with the record-breaking launch of Brooks’ new Ghost Max shoe in late September, drove the brand’s gains and bolstered confidence for double-digit growth in 2024.
Brooks held the No. 1 spot in the adult performance running footwear market at U.S. retail for the seventh consecutive quarter, with 21.4% market share year to date,1 and was event participants’ most preferred brand for training and racing footwear according to the Running USA 2023 Global Running Survey released last month.
"Brooks is winning with runners in an incredibly competitive marketplace,” said Jim Weber, CEO at Brooks Running. “They are more discerning than ever and need their gear to deliver mile after mile. At the same time, we’re extending our reach to active people walking, hiking, or in the gym – because everyone can benefit from the fit, comfort, and performance Brooks’ products provide.”
Innovation wins with maximized Ghost franchise and more
Brooks introduced new products to the market this quarter, a key factor in the brand’s momentum heading into 2024. Most notably, Brooks launched the all-new Ghost Max in late September, expanding on the brand’s highly successful Ghost franchise by adding high-stack cushioning and GlideRoll rocker technology to offer more protection and assisted transition through the gait cycle. Ghost Max represented the best retail adoption of a new style in Brooks’ history; with the addition of the Ghost Max, Brooks now holds five of the top 10 selling running footwear franchises in the U.S. specialty run channel.2
In January 2024, Brooks will introduce the next generation of the fan-favorite Glycerin franchise with the Glycerin 21, featuring additional DNA LOFT v3 cushioning underfoot, and launch the athlete-tested Hyperion Elite 4 distance racing shoe ahead of the 2024 U.S. Olympic Marathon Team Trials in February. At HP Imagine in October, the brand announced the Exhilarate-BL featuring Brooks’ cutting-edge, 3D-printed 3DNA midsole technology. The Exhilarate-BL will be available in limited quantities to members of the brand’s loyalty program, Brooks Run Club, in early 2024.
Leading across regions with omnichannel growth
Brooks saw U.S. e-commerce sales increase 25% year to date through its direct-to-consumer business. Internationally, revenue increased in France and the United Kingdom by 22% combined year to date in U.S. dollars, with additional market gains in China this quarter as it continued regional and omnichannel growth. In August, Brooks launched a pop-up store in Los Angeles to engage the community with a dynamic shopping experience and weekly community and fitness programming. New and expanded distribution centers in the U.S. and U.K. tripled Brooks’ distribution facility footprint and will allow scaling of operations to meet increasing demand across channels.
Supporting athletes on the world stage and engaging the global run community
Brooks Beasts Track Club middle-distance athlete Josh Kerr took the gold medal in the men’s 1500m at the World Athletics Championships in Budapest in August and followed that podium performance with a victory at the 5th Avenue Mile race in New York City. At the marathon distance, Des Linden secured the American Masters Record at the Chicago Marathon. Adding depth to its roster of elite athletes, Brooks sponsored marathoner Susanna Sullivan and signed 800m runner Brandon Miller to its Beasts middle-distance team. Brooks also formed an NIL deal with University of Arkansas freshman Shawnti Jackson, who holds the title of the fastest American high school female of all-time after running 10.89 in the 100m earlier this year.
Brooks fostered brand relationships in the heart of digital run communities through collaborations with fitness apps including Strava and Joyrun, China’s most dominant running app. In June, Brooks became the first title sponsor of Strava’s Global 5K Monthly Challenge. Through September, the partnership garnered 3.1 million participants in monthly 5Ks, with 60 thousand members joining the brand’s available clubs through the app and 71.6% growth to Brooks Run Club on Strava. Brooks’ partnership with Joyrun, which boasts 128M users, is extending Brooks’ reach and audience engagement throughout China.
In October, Brooks expanded its Brooks Run Club, launching a quarterly game to its members with rewards for miles run and walked. Participants will have the opportunity to sync their fitness trackers to the platform for a chance to win prizes. Brooks Run Club has seen 60% new member growth year-over-year.
Brooks further developed its youth running initiative, Future Run, by reintroducing the brand’s high school track and cross-country grant program this past quarter. Year over year, Brooks Future Run Team Grants increased both the number of teams and athletes impacted by more than 200%. Applications for track season will open in January 2024.
About Brooks Running
Brooks Running creates market-leading performance running footwear, apparel, sports bras, and accessories distributed worldwide. Brooks’ purpose is to inspire everyone to run their path by creating the best gear, tools, and experiences. Founded in 1914, the company continues to deliver accelerated product innovation and engagement with runners, walkers, and everyone who is active. Brooks is a subsidiary of Berkshire Hathaway Inc. and is headquartered in Seattle, Washington. Visit www.brooksrunning.com for more information or follow @brooksrunning.
1 Circana, Retail Tracking Service, U.S. dollar sales, January 2022-September 2023
2 Upper Quadrant Specialty Run Market Data