On August 1, Brooks Running, a century-old American running brand under Warren Buffett’s Berkshire Hathaway, released its Q2 FY 2024 financial report ending June 30. Driven by double-digit growth in both wholesale and direct sales channels, sales increased by 15% year-over-year, setting a record high.
Regionally, North American sales rose 19%, primarily benefiting from the strong impact of the Glycerin 21 series, the continued success of Ghost Max, and the robust launch of Ghost 16. Brooks Running maintained its position as the top market share holder in the U.S. adult performance running shoe market for the 10th consecutive quarter and retained the leading market share in the U.S. specialty footwear retail market in the first half of 2024.
The EMEA market resumed growth with sales up 4% year-over-year, driven by improved retail conditions. Recent Q1 market data shows that Brooks Running’s market share in the adult performance running shoe sector in France and Germany grew by nearly one percentage point year-over-year.
In the APLA market, Brooks Running opened its first retail store in the Chinese Mainland in Shanghai in early July, with plans to open a second store in Shanghai later this year, in addition to new stores in Beijing and Guangzhou.
CEO Dan Sheridan stated, “Brooks’ record results this quarter demonstrate the strength of our brand, business, and product. We believe sharp focus on the performance category creates mass appeal as we continue to deliver innovative, premium products and experiences that runners and active people value.”
For instance, Brooks Running updated the Hyperion shoe series, launching Hyperion Max 2 in June. The Hyperion Max 2 features DNA FLASH v2 nitrogen-infused foam and an added SpeedVault plate to accelerate heel-to-toe transition, offering a fast, responsive underfoot experience. Initial sales of the Hyperion Max 2 indicate strong consumer demand, with sales in specialty retail stores and e-commerce nearly tripling year-over-year, and more growth expected during the fall marathon season.
As participation in running continues to grow, the Brooks Running brand is also expanding. In May, Brooks Running launched its first new global brand platform in 25 years, “Let’s Run There,” inspired by the evolving role of running in consumers’ health and wellness journeys.
Additionally, Brooks Running announced new executive appointments:
- Matt Dodge, former VP and Managing Director of Brooks International, was appointed President and COO on August 1. Over the past six years, Dodge has developed the brand’s business and team in the EMEA and APLA markets, and previously led the company’s global HR and legal teams.
- Josh Vaughan was appointed Managing Director of the EMEA market on August 1. With over 15 years of experience in the outdoor sports industry, Vaughan was most recently the EMEA General Manager for VF Corporation’s icebreaker and Smartwool brands.
Founded in 1914, Brooks Running is one of the world’s four most renowned running shoe brands. Throughout its century-long history, it faced several bankruptcies or near-bankruptcies and was acquired by Wolverine World Wide, Aker RGI of Norway, Russell Athletic, and FRUIT OF THE LOOM, a Berkshire Hathaway subsidiary. In 2012, Brooks Running became an independent subsidiary of Berkshire Hathaway.
| Source: Official press release
| Image Credit: Brand website
| Editor: LeZhi
