NPD Group analyst Matt Powell calls Adidas' rise to No. 2 in USA sneaker sales an achievement he never thought he'd see in his lifetime.
We all know that adidas has been making major strides over the last few years and has been soaring in popularity thanks in big part to Kanye West and their invention of Boost technology.
According to Rovell, Adidas captured 11.3 percent of the market share from January 2017 through August 2017-a notable jump from its 6.6 percent in the same span a year ago.
Adidas sport footwear sales grew more than half for the month and share grew by almost half, to 13%, he said. The German athletic sportswear company has passed the Jordan brand to become the No. 2 brand in sneakers in the U.S.
"Nike let the Jordan business get overheated, which slowed down the liquidations". "They are really customer centric".
Meanwhile, the Jordan brand essentially stayed steady, growing only from 9.4 percent to 9.5 percent year-to-date. "The sentiment on twitter is that Jordan is not cool anymore, which is overblown". NPD didn't break out the exact share held by Jordan brand, which is a Nike subsidiary, but a month ago it was already clear that Adidas was overtaking Jordan.
By comparison, Nike's share decreased from 39 percent in the first eight months of 2016 to 37 percent this year. "But there is no question that retro Jordans [are] not selling out immediately like they used to". Over the past year, Adidas ADRs are up 40.2 percent while Nike shares are down 2.7 percent.