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It has happened.
The momentum of the three stripes continues to trend upward with another milestone for Adidas – the brand is now #2 in America.
Since slumping to the fourth position in 2013, Adidas’ growth has shown no signs of slowing down. The brand has reportedly passed Jordan Brand to become the second largest sneaker brand in the US market. The declaration was made today by long time respected industry analyst (and Kanye West skeptic) Matt Powell along with several other industry sales news.
Adidas has overtaken Jordan as the #2 brand in U.S. sport footwear. This is an achievement I never thought I would see in my lifetime.
— Matt Powell (@NPDMattPowell) September 18, 2017
While this is incredible news for Adidas, it does come at the expense of Nike, Inc whose brands Nike, Jordan, and Converse all saw a decline in sales for the same period that Adidas grew to 13% of the market.
Nike brand footwear sales were down for the month of August, as were Brand
Jordan and Converse.— Matt Powell (@NPDMattPowell) September 18, 2017
Both Nike (NYSE: NKE) and Adidas (ETR: ADS) stocks are trading slightly down today despite the news at $53.52 and 196.90€ respectively. In the past 365 days, Nike is down 2.67% while Adidas has posted a 32.0% gain for investors.
