Brooks Running Company Celebrates 100th Year Hitting Major Growth Milestone
Passion for the running lifestyle and commitment to creating superior product leads company to $500 million revenue mark.
SEATTLE - May 16, 2014
Brooks Running Company, the leader in performance run, picked up its pace and hit a major business goal ahead of schedule, reporting a half billion dollars in global revenue on a rolling 12-month basis as of April 2014. In 2010, the company put a stake in the ground to double down its focus on runners, fueling its stride with an ongoing commitment to creating the best running footwear and apparel, providing superior customer service, and inspiring everyone to run and be active through its Run Happy brand ethos. The company believed this plan and energy would carve a path to becoming the next $1 billion brand in running.
“It’s extremely exciting to reach a business milestone of this magnitude. Even better, we’re able to share it with nearly 1,000 employees and global partners we’ve gathered in Seattle this week to celebrate Brooks’ 100th anniversary,” said Jim Weber, CEO, Brooks Running Company. “We knew a commitment to putting the runner first and creating both fantastic product and memorable experiences for them was a big idea – a billion dollar idea. We are here because the brand is resonating with runners, and we have incredible retail partners who are out there with us inspiring runners day in, day out.”
In 2001, Brooks rebooted its strategy to focus on delivering best-in-class gear for runners, creating unique experiences at events to reach them, and partnering with the best specialty running account stores (SRAs) in the world. This commitment has fueled 12 sequential years of 18% compound annual revenue growth led by the creation and refinement of the many franchise Brooks products runners have grown to love and bet on mile after mile. In addition, Leisure Trends reports Brooks continues to grow its No. 1 market share position at SRAs nationwide with 31% year-to-date running footwear retail dollar share, up 1.5 percentage points since the end of 2013.
“Brooks is doing what it should every day to provide a great product for people who are out there running, doing what they love, being healthy,” said Warren Buffett, Chairman and CEO, Berkshire Hathaway Inc. “Brooks has nothing ahead but opportunity, as running will always be part of people’s lives. The demand will not disappear and because of that, there is really no limit to Brooks’ growth.”
About Brooks Running Company
Brooks Running Company designs and markets running-specific performance footwear, apparel, and accessories in more than 60 countries worldwide. Brooks’ mission is to inspire everyone to run and be active by creating innovative gear that keeps them running longer, farther and faster. Brooks’ mission is supported by its Run Happy philosophy, a quest to celebrate and champion the sport of running and all runners everywhere. Founded 1914, Brooks is a subsidiary of Berkshire Hathaway Inc. and is headquartered in Seattle. Visit www.brooksrunning.com for more information or follow us on Twitter (@brooksrunning) and Facebook (www.Facebook.com/brooksrunning).