Brooks Running reported another record year for sales in 2023.
The running brand ended the year with global revenues of $1.2 billion, up 5 percent from 2022 along with more than 20 million units sold, a new record. In December alone, the company saw a 24 percent bump in global revenue growth.
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The brand also hit $1 billion in revenue in North America for the first time, marking a 7 percent increase year-over-year. Bucking a general downward trend in U.S. wholesale sales, Brooks’ revenues in that channel were up 5 percent, which included an 11 percent bump in the specialty category.
“There has never been a more exciting time to be in run, especially for a brand as focused on it as Brooks,” said Brooks chief executive officer Jim Weber in a statement. “U.S. retail is healthy across channels and participation continues to grow worldwide as more people discover the physical, mental, and social benefits of putting one foot in front of the other. Brooks is poised to compete at its best this year as we welcome additional runners, walkers, hikers, and more to experience our products and brand.”
At U.S. retail in 2023, Brooks represented 21 percent of market share in the adult performance running footwear market, according to Circana’s Retail Tracking Service. The Brooks Ghost and Adrenaline GTS shoes represented more than 12 percent of market share combined and were the the top two adult performance running styles at U.S. retail. The new Ghost Max shoe that launched in September sold more than half a million pairs in the first three months on the market and represented the best retail adoption of a new style in Brooks’ history.
By channel, global DTC e-commerce sales were up 24 percent. North America DTC e-commerce sales were up 22 percent between Thanksgiving and Cyber Monday. The company’s Run Club loyalty program grew 85 percent year-over-year to more than 500,000 members in 2023.
“Our multichannel operational execution and runner-first approach helped us navigate headwinds created by supply chain disruptions in 2022 as well as economic uncertainty in Europe,” said Brooks president and chief operating officer Dan Sheridan in a statement. “We’re energized by our opportunity to further execute our strategy and double down on key investments to support our business, customers, and the global running community.”
DTC sales in China were up 194 percent in 2023, which encouraged the company to seek out retail store opportunities in the market in 2024.
Brooks told FN in November that it expects to achieve double-digit growth in 2024. To do this, the brand is keeping the focus on its No. 1 consumer group — dedicated, frequent runners — while accelerating the pace of product innovation and expanding its reach to consumers looking for comfort and performance outside of road running.
Looking ahead, Brooks anticipates 10 new shoe launches in 2024 as well as style updates to existing silhouettes. In Q1, the brand will launch its new Catamount Agil trail racing shoe, followed by the Hyperion Elite 4 and Hyperion Elite Middle- and Long-Distance spikes in Q2.
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