Brooks Running Hits Nearly $850 Million in Global Revenue in 2020
Brooks reached a new high in 2020, closing the year with global revenue of nearly $850 million, an increase of 27 percent year over year.
While the COVID-19 pandemic created economic disruption this past year, Brooks was among the brands that capitalized on the influx of individuals gravitating towards fitness activities such as running and walking.
“In 2020, the Brooks team stayed very close to the runner for cues on how to navigate the uncertainty caused by global retail and supply chain disruptions,” said Jim Weber, CEO at Brooks Running. “We quickly found new demand signals to track shifts in running participation and shopping behavior and acted decisively to engage runners and gain market share in every channel of distribution.”
The company points to its investment in its consumer research Run-Sight Lab as a key to its 2020 success. The insights enabled the brand to adjust its communication approach, reinforce its omni-channel distribution support and make it easier for consumers to find what they wanted from the brand whenever and wherever they chose to research and shop.
According to NPD, Brooks was the No. 4 adult performance running footwear brand in the U.S. in 2020 with 8.5 percent dollar share, up 1.8 points year over year and Brooks gained more than 3 points of performance running dollar-share among runners in 2020 compared to 2019, becoming the No. 2 brand among runners based on dollar-share position. Within the final two months of 2020, Brooks was the No. 1 adult performance running footwear brand in the athletic specialty/sporting goods.
In 2020, during brick-and-mortar retail closures, Brooks said its sales online shifted north of 75 percent, stabilizing at 46 percent by year end.