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Skechers, On, Hoka, and Chinese Brands Accelerate and Threaten the Leadership of Giants in a Sector That Became a Reflection of Lifestyle, Pop Culture, and Technological Innovation
The supremacy of decades of Nike and Adidas in the global sneaker market is being challenged like never before. The giants still hold the top spots — with about 20% (Nike) and 10% (Adidas) market share — but the gap is starting to close. This is because brands like Skechers, On Running, Hoka, Anta, and Li-Ning are getting closer, according to Invest News.
More than a footwear, sneakers have become a symbol of identity, comfort, and performance. In this new scenario, simply having a logo is no longer enough — it’s necessary to deliver experience, technology, and representation.
Dominance Under Threat: Nike and Adidas Feel the Impact
Despite their leadership, both giants are experiencing a moment of wear. The saturation of launches, unsold inventory, and loss of pricing power against more agile rivals have affected margins and cultural relevance, especially among younger consumers.
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- Air Jordan, from Nike, still represents 14% of revenue, but has lost exclusivity.
- Adidas ended its billion-dollar partnership with Kanye West and is trying to reinvent itself with the revival of the Samba and Gazelle lines.
Comfort and Value for Money: The Strength of Skechers
Skechers, once seen as an alternative off the fashion radar, has captured the consumer looking for fair prices and extreme comfort — and has come onto the radar of billionaires from 3G Capital, who paid US$ 9.4 billion for the brand.
Skechers Highlights:
- US$ 8.97 billion in revenue in 2024
- Over 300 million pairs sold
- Presence in 180 countries
On and Hoka: The Darlings of Runners
The Swiss On Running has become a reference among athletes, with models like Cloudmonster and the participation of Roger Federer as a partner.
On the other hand, Hoka, with its robust soles and fashionable appeal, grew 28% in 2024 and accounts for nearly half of Deckers Brands’ revenue.
In the circuit of major marathons, Adidas and Nike still dominate, but On and Asics are starting to appear on the podium.
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