– Seattle, WA
Brooks’ revenue increased for an eighth consecutive quarter in Q3 2021. From January through September 2021, Brooks grew revenue 43.5 percent globally. In the U.S. adult performance running footwear category, Brooks captured a 19% market share, based on revenues, and gained 2 percentage points versus last year, according to The NPD Group Retail Tracking data*. Contributing to this result was third-quarter revenue growth of 24 percent year over year as the company continued to feed strong consumer demand around the world. Brooks’ leading footwear franchise styles led the gains as revenue from the Adrenaline GTS, Ghost, and Glycerin super franchise were are up 50 percent versus 2020.
“More than twenty years ago, we made a big bet that if we put the runner at the centre of everything we do — delivering the product they need and then celebrating the many reasons they run and the positive energy they get from it — we could become a leading brand in run,” said Jim Weber, CEO at Brooks. “We look forward to welcoming more people into the running community as we close out 2021 and enter the new year.”
Brooks’ growth is benefitting from distinctive products, a premium brand positioning, strong multi-channel distribution, digital engagement, and a tailwind of increased participation in running and walking around the world.
Brand Momentum in the Face of Disruption
Brooks entered the third quarter with strong brand demand amid ongoing pandemic-related quarantines and mandated factory shutdowns coupled with widespread supply chain disruptions. These headwinds began to affect Brooks’ ability to meet consumer demand for the quarter, reducing revenue in September. While supply chain challenges are not unique to Brooks, the brand expects impacts to continue through Q2 2022, and is well positioned to manage through the disruption with strong partnerships in its geographically diverse yet categorically focused supply chain ecosystem.
Return to Racing
With the sport finally opening in Q3 after closures that began in March 2020, Brooks athletes competed in major events around the world. Brooks Beasts athlete Josh Kerr won an Olympic bronze medal in the men’s 1,500m representing Great Britain. Coached by Danny Mackey, Kerr is the first Brooks athlete to win an Olympic medal. Bryan Bhark, Senior Developer of Footwear Innovation at Brooks, joined over 1,600 competitors for the world-renowned TDS® mountain ultramarathon in Chamonix, France, and placed 19th overall with a time of 22:49:43. Brooks athlete, CJ Albertson, led the Boston Marathon for more than 32 kilometres, finishing in 10th place overall and second among American men at 2:11:44.
On its planet path, Brooks continues to believe that climate change demands urgent and universal action. This week Brooks recognized the one-year anniversary of signing The Climate Pledge and its commitment to achieve net zero carbon emissions by 2040. In 2021, runners around the world saw Brooks take a significant step along this essential path when it launched the Ghost 14, the latest version of its highest volume product, as carbon-neutral through a combination of recycled materials and high-quality carbon offsets.
*The NPD Group / U.S. Consumer Tracking Service, January-September 2021
About Brooks Running
Brooks Running sells its performance footwear, apparel, run bras, and accessories in more than 50 countries worldwide. Brooks’ purpose is to inspire everyone to run their path by creating the best gear, tools, and experiences. Founded 1914, Brooks is a subsidiary of Berkshire Hathaway Inc. and is headquartered in Seattle. Visit http://www.brooksrunning.com/ for more information or follow Brooks on social media @brooksrunning.