Sportswear company Nike has bested other big names in the sportswear industry in revenue, raking in $37.4 billion for the 2020 fiscal year.
This was gathered from data presented by Trading Platforms
Two of the biggest names in the sportswear business Nike and Adidas made a total of $70 billion for the fiscal year 2020, with Adidas’ revenue around $13 billion, while Nike made more than double that figure.
The revenue generated for the fiscal year 2020 by Nike was a 5 percent slope from the previous year.
The decline in revenue is attributed to the emergence of the coronavirus pandemic.
That did nothing to stop the brand from being ranked as the 15th most valuable brand globally in 2020.
In 2019, it was ranked 16th globally.
Performance of Other Top Brands
VF Corporation – known for brands like North Face and Jansport – came in third on the list with a revenue of $10 billion for the fiscal year 2020.
Following VF Corporation is Puma, founded by the brother of Adidas’ founder. Puma pulled in a revenue of $6 billion.
And newcomer Armour recorded a $5.27 billion in revenue.
In the sportswear range, Nike’s income in 2019 was $24.2 billion, which is more than Puma and Adidas’ combined revenue of $17 billion.
Puma registered $3 billion in revenue, while Adidas recorded $15 billion in revenue from the footwear segment.
Nike, in 2020 pulled in 40 percent of its revenue from its footwear brand in the North American market which amounts to $9.33 billion.
Europe is Nike’s other footwear revenue generator; followed by the Middle East and Africa, generating $5.89 billion (25 percent) in revenue.
China is the company’s third-biggest source of footwear revenue with 20 percent or $4.64 billion.