Brooks Running posts record revenues in 2022
U.S. running brand Brooks Running announced on Tuesday record revenues for the year 2022, on the back of growth across all regions, and a 16% uptick in direct-to-consumer sales.
The Seattle-based company said 2022 revenues increased 6% over 2021, following a record fourth quarter, with sales up 26% year-over-year.
In the company’s Europe, Middle East, and Africa region, Brooks grew revenue 15% in local currency year-over-year. The Asia-Pacific and Latin America region grew 33%, with Australia and China up 24% and 21%, respectively, driven by wholesale success and a digital-first approach.
During the year, Brooks also launched e-commerce sites in six additional countries and invested in new distribution centres in the U.S. and U.K. to address increasing demand and scale for growth.
“In 2022, Brooks overcame economic and supply chain headwinds to gain new customers across all categories including running, walking, hiking, and more,” said Jim Weber, CEO at Brooks Running. “As we head into the new year, we’re positioned for continued growth in multiple fitness and outdoor performance categories.
In 2021, Brooks Running revenues surpassed $1 billion for the year, on the back of increased demand for runners during the Covid-19 period.
The global athletic footwear market size was valued at $127.3 billion in 2021, and is expected to expand at a compound annual growth rate of 4.9% from 2022 to 2030, according to Grand View Research.
Copyright © 2023 FashionNetwork.com All rights reserved.