Brooks Running has reported global revenue growth of 5%, with North America revenue + 7%, in the year to September 2023.
The return of Brooks’ full product and innovation pipeline, coupled with the launch of Brooks’ new Ghost Max shoe in late September, supported the brand’s gains… ‘and bolstered confidence for double-digit growth in 2024.’
Brooks claimed the number one spot in the adult performance running footwear market at US retail for the seventh consecutive quarter, with 21.4% market share in the year to date. It also claimed to beevent 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.”
Brooks introduced new products to the market, seen as 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 Ghost franchise by adding high-stack cushioning and GlideRoll rocker technology to offer more protection and assisted transition through the gait cycle.
According to Brooks, Ghost Max represented the best retail adoption of a new style in Brooks’ history. With the addition of the Ghost Max, Brooks now claims to hold five of the top 10 selling running footwear franchises in the US specialty run channel.
In January 2024, Brooks will introduce the next generation of its Glycerin franchise with the Glycerin 21, featuring additional DNA LOFT v3 cushioning underfoot. It will also launch the Hyperion Elite 4 distance racing shoe ahead of the 2024 US Olympic Marathon Team Trials in February.
At HP Imagine in October, the brand also announced the Exhilarate-BL. This features Brooks’ 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.
Brooks saw US e-commerce sales increase 25% in the year to September 2023 through its direct-to-consumer business. Internationally, revenue increased in France and the United Kingdom by 22% combined in the year to date (in US dollars), with additional market gains in China this quarter as it continued regional and omnichannel growth.
New and expanded distribution centres in the US and UK reportedly tripled Brooks’ distribution facility footprint and will allow scaling of operations to meet increasing demand across channels.
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 for the Brooks Run Club on Strava.
Brooks’ partnership with Joyrun, which boasts 128 million users, is further 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 a reported 60% new member growth year-on-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.
