Dive Brief:
- Seattle-based sports retailer Brooks Running reported record revenue in the first quarter with a 9% year over year increase, the highest quarterly results in the brand's history, according to a company press release.
- Brooks is a private company and does not need to disclose exact financial numbers. The company’s global e-commerce business was up 22% year over year for the quarter and North American sales increased 13% compared to a year ago. In the Asia, Pacific, and Latin America region, the company said first-quarter revenue in Australia and China saw an increase of 38% and 180% year over year, respectively.
- Brooks launched a new global brand platform, “Let’s Run There” to connect with runners and broaden its appeal. The campaign refreshes Brooks’ tagline “Run Happy” and launched across all of Brooks’ social media platforms in all regions on May 1.
Dive Insight:
The brand kept its momentum in Q1 after a record-setting 2023 where revenue reached $1.2 billion with over 20 million units sold, according to a press release emailed to Retail Dive in February.
Brooks is doubling down on product innovation as trail running and hiking participation increased for the fifth consecutive year, according to a 2023 report by the Sports & Fitness Industry Association. In Q1 alone, the company said it launched six new shoe styles globally which contributed to a 10% increase in footwear sales year over year.
“Brooks’ runner-first strategy and execution continue to drive success for our brand on a global scale,” Dan Sheridan, who was promoted to CEO last month, said in a statement. “We're working hard to deliver what runners and active people need and want from their gear, and we service them well wherever they choose to engage with our brand and team.”
Premium cushioning in its footwear remains a key selling point. In February, Brooks launched the Glycerin 21 and Glycerin GTS 21 silhouettes that have nitrogen-infused foam. The brand continues to hold five of the top 10 spots among U.S. specialty footwear styles with the Glycerin and Glycerin GTS, Ghost and Ghost Max, and Adrenaline GTS, according to the press release. The company said with the Q1 launch of Glycerin 21, sales were up 39% year over year compared to Q1 2023 sales of Glycerin 20.
“At the heart of our brand is a commitment to understanding biomechanics and using that knowledge to create gear that helps people move faster, further, and healthier, because to us, movement is the key to feeling more alive,” said Melanie Allen, the brand’s chief marketing officer.
Other footwear brands like On and Kizik are adding new physical stores to expand their reach. Allbirds launched a new shoe silhouette last month as the brand is focusing on its footwear franchises as part of a strategic plan to regain market share.
Brooks said it ranked No. 1 in both the adult performance running footwear market at U.S. national retail and U.S. specialty footwear segment in Q1, according to specialty run market data it cited from Upper Quadrant in the press release.
The brand uses elite athletes as worldwide ambassadors including CJ Albertson, the top American finisher in the men’s race in this year’s Boston Marathon, and marathoner and U.S. Olympic Marathon women’s team alternate Jess McClain.
via https://www.aiupnow.com
Suzette Parmley, Khareem Sudlow
