Category: Brooks

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Brooks Running, a subsidiary of Berkshire Hathaway, concluded 2024 with record-breaking global revenue, marking a 9% year-over-year increase. This milestone represents eight consecutive years of growth, with a 13% compound annual growth rate over that period. The brand’s international expansion played a significant role, with standout performances in Europe and Asia. In France and Germany, Brooks outpaced the performance running market, while in China, sales surged by an impressive 228%.

Dominance in the U.S. Market

For the third year in a row, Brooks maintained its status as the No. 1 adult performance running footwear brand in U.S. national retail. The brand also led in the specialty retail channel, experiencing a 19% year-over-year increase in Q4. The growing global interest in running was evident, with an 8% rise in race participation in the U.S. and running emerging as the fastest-growing sport on Strava.

Innovation Drives Sales

Brooks introduced updated versions of all its core footwear franchises in 2024, marking the first refresh since 2021. This innovation led to a 12% increase in active sales. The Ghost and Adrenaline GTS lines captured over 10% of the U.S. performance running market, while the Ghost Max saw a 203% revenue increase in its first full year. The launch of the Glycerin Max in September further bolstered sales, becoming the top-selling shoe on Tmall in China on its debut day. Additionally, the Hyperion speed franchise gained traction, with sales climbing 41% in China.

Expanding Brand Presence

In 2024, Brooks launched its global brand platform, “Let’s Run There,” reinforcing its mission to inspire runners. The campaign, featuring actor Jeremy Renner, won multiple Clio Awards and earned recognition in Fast Company’s “Brands That Matter” list. Brooks also engaged new audiences through collaborations, including a partnership with Extra Butter for exclusive sneaker designs and a sponsorship with the Seattle Kraken as their Official Off-Ice Performance Partner. Additionally, runDisney named Brooks its official running shoe sponsor.

Digitally, the Brooks Run Club surpassed 1 million members in North America and expanded into the U.K., with plans for further international growth in 2025. Brooks Running Clubs on Strava also saw remarkable growth, with membership increasing by 165% in the U.S. and 346% in Europe.

Investing in Running Communities

Brooks’ commitment to the sport extended beyond sales, supporting both elite athletes and grassroots initiatives. In 2024, Brooks Beast Josh Kerr secured an Olympic silver medal in the 1500m and set a new course record at the 5th Avenue Mile. Fellow athlete Michael Roeger also earned silver in the men’s 1500m T46 category, while the Brooks Beasts team set a new world record in the distance medley relay.

The company invested over $6 million in community impact programs, benefiting more than 800,000 runners worldwide. This included $4 million in gear and financial support for organizations like parkrun and $2 million through the Future Run program, which expands youth access to running.

With record-breaking growth, innovative product launches, and increased community engagement, Brooks Running continues to solidify its position as a global leader in performance running footwear.

© 2025 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Brooks Running, owned by Berkshire Hathaway, surpassed $1 billion in global revenue through September, marking a significant milestone achieved even before the start of its fourth quarter.

This growth reflects the brand’s expanding market presence across all regions and channels, with North America seeing a notable 10% year-over-year increase and e-commerce up by 16%. Brooks held the No. 1 spot in adult performance running footwear at U.S. national retail for the 11th straight quarter and led in U.S. specialty footwear retail through the third quarter of 2024.

Internationally, Brooks saw over 30% revenue growth in the Asia Pacific-Latin America region (APLA) and a 10% increase in Europe, the Middle East, and Africa (EMEA), driven by a 24% boost in e-commerce sales. In Germany and France, Brooks’ growth significantly outpaced the general performance running market, gaining 2.2 and 1.0 market share points, respectively.

Brooks CEO Dan Sheridan attributes this success to the company’s focus on delivering top-notch performance gear and customer experiences. “Every day, we aim to meet more people and introduce them to what Brooks is all about,” he said, noting the brand’s dedication to ensuring its products are the top choice for runners worldwide.

© 2024 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Brooks Running, a subsidiary of Berkshire Hathaway, has set a new global quarterly revenue record in Q2 2024, marking a 15% year-over-year increase. This growth was driven by robust performance in both wholesale and direct-to-consumer channels.

In North America, Brooks saw a 19% year-over-year revenue increase, fueled by the success of the Glycerin 21 super franchise, Ghost Max, and the launch of Ghost 16. The brand has maintained its No. 1 market share in the adult performance running footwear market at U.S. national retail for the 10th consecutive quarter and held the top spot in the U.S. specialty footwear retail segment through the first half of 2024.

The Europe, Middle East, and Africa (EMEA) region also returned to growth, with a 4% revenue increase as the retail landscape improved. In France and Germany, Brooks’ market share in the adult performance running footwear category grew nearly a full point year over year, with sales up 12% in France and 10% in Germany in Q1 2024 compared to Q1 2023.

In the Asia Pacific and Latin America (APLA) region, Brooks recently opened its first retail store in Shanghai, with a second location planned for later this year, along with new storefronts in Beijing and Guangzhou.

“Brooks’ record results this quarter demonstrate the strength of our brand, business, and product,” said CEO Dan Sheridan. “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.”

Following Sheridan’s appointment as CEO in April, former Vice President, Managing Director of Brooks International Matt Dodge will become President and Chief Operating Officer on August 1. Dodge returns to Seattle after six years of growing Brooks’ business in the EMEA and APLA regions. Josh Vaughan will take over as Managing Director in EMEA, bringing over 15 years of experience in the outdoor performance industry, including roles at icebreaker and Smartwool.

© 2024 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Berkshire Hathaway’s Brooks Running, a leading performance running brand, has reported exceptional performance in the first quarter of 2024, marking a significant milestone in its history. With a remarkable 9% year-over-year increase in revenue, Brooks has achieved its highest quarterly results to date, propelled by its steadfast execution of a multichannel strategy and a robust pipeline of innovative products.

The brand’s global e-commerce segment has been a key driver of growth, surging by 22% compared to Q1 2023, with an impressive 38% year-over-year growth in March alone. This uptick underscores Brooks’ ability to meet the evolving demands of consumers in the digital space while maintaining healthy inventory levels.

In North America, Brooks has sustained its momentum with a 13% increase in sales relative to Q1 2023. Securing the No. 1 position in the adult performance running footwear market for the ninth consecutive quarter at U.S. national retail, Brooks has reaffirmed its dominance in the region. Additionally, the brand reclaimed the top spot in the U.S. specialty footwear segment during Q1, further solidifying its market position.

Brooks’ success extends beyond North America, with significant growth observed in key global markets. In the Asia-Pacific and Latin America region, revenue surged notably, with Australia and China witnessing impressive year-over-year increases of 38% and 180%, respectively. Despite ongoing retail uncertainties in Europe, the Middle East, and Africa, Brooks’ e-commerce business in the region grew by 10% year over year, showcasing resilience and adaptability.

Dan Sheridan, CEO of Brooks, attributed the brand’s success to its unwavering commitment to a “runner-first” strategy and meticulous execution on a global scale. He emphasized Brooks’ dedication to understanding and fulfilling the needs of runners and active individuals, regardless of their engagement channel, as a key differentiator for the brand.

As Brooks continues to innovate and expand its reach, its performance in Q1 2024 reflects not only financial success but also a deep connection with its customer base and a relentless pursuit of excellence in the world of running.

© 2024 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Berkshire Hathaway’s Brooks Running Company, a leading name in the global running category, has revealed a significant leadership change. Jim Weber, who has served as Chief Executive Officer for an impressive 23 years, will be stepping down from his role. Effective April 26, 2024, Dan Sheridan, the current President and Chief Operating Officer, will take over as the new CEO.

During his tenure, Weber played a pivotal role in shaping Brooks’ trajectory, steering the company from the brink of bankruptcy to becoming a billion-dollar brand and an industry leader. He established a long-term strategy focused on performance running, which propelled Brooks forward over the past two decades.

The company reported a record revenue growth of $1.2 billion in 2023, marking a significant 5% increase year over year. Moreover, Brooks witnessed a historic achievement of selling over 20 million units, showcasing its widespread consumer appeal and market penetration.

Reflecting on his time at the helm, Weber expressed pride in Brooks’ accomplishments and the groundwork laid for future growth. He highlighted Sheridan’s extensive experience at Brooks, spanning 25 years, as a key factor in his readiness for the CEO position. Weber commended Sheridan’s customer-centric approach and emphasized his role in driving the company’s success.

Sheridan, who joined Brooks in 1998 and has held various leadership positions, brings a wealth of experience and a proven track record of cross-functional success to his new role as CEO. His leadership has been instrumental in evolving Brooks’ strategy, strengthening its business model, and navigating challenges through digital transformation and multichannel strategies.

Sheridan expressed gratitude for the opportunity to work alongside Weber and the global Brooks team, emphasizing the collaborative effort in building a successful business and a supportive workplace culture. He looks forward to leading Brooks into its next chapter of growth.

The transition has garnered support from Berkshire Hathaway Inc., which established Brooks as a standalone subsidiary in 2012. Vice Chairman Greg Abel praised Weber and the Brooks team for their exceptional work and expressed confidence in Sheridan’s leadership.

Brooks’ commitment to nurturing talent and thoughtful succession planning is evident in the appointment of Matt Dodge as the new President and COO, effective August 1, 2024. Dodge’s decade-long tenure at Brooks, coupled with his experience in various roles, positions him well to drive the company’s global growth.

© 2024 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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In the dynamic world of performance running footwear, Brooks Running, a subsidiary of Berkshire Hathaway, emerged as a frontrunner in 2023, achieving remarkable milestones and solidifying its position as a leader in the industry. The company reported a record revenue growth of $1.2 billion, marking a significant 5% increase year over year. Moreover, Brooks witnessed a historic achievement of selling over 20 million units, showcasing its widespread consumer appeal and market penetration.

Since 2018, Brooks has consistently demonstrated impressive growth, boasting a compound annual growth rate surpassing 14%. This growth trajectory continued in 2023, particularly in North America, where revenue surged by 7%, surpassing the $1 billion mark for the first time in the region’s history. This achievement underscored Brooks’ effective multichannel business strategy, which included inventory optimization, strategic investments in key markets, and the delivery of premium performance products across various regions.

The success story of Brooks extends beyond financial metrics, as evidenced by its dominant presence in the adult performance running footwear market. The brand maintained its coveted position as the top player in the U.S. retail market, capturing a remarkable 21% market share throughout the year. Key products such as the Brooks Ghost and Adrenaline GTS shoes emerged as the top two adult performance running styles, commanding over 12% share collectively. Additionally, the Brooks Ghost garnered recognition in the fitness tracking realm, being among the top running styles on the popular app Strava.

Jim Weber, CEO of Brooks, expressed enthusiasm about the brand’s prospects, stating, “There has never been a more exciting time to be in run, especially for a brand as focused on it as Brooks.” He highlighted the thriving landscape of the U.S. retail market and the global increase in participation, emphasizing Brooks’ readiness to cater to a diverse audience seeking the physical, mental, and social benefits of running.

Brooks’ commitment to innovation remained unwavering in 2023, with a particular focus on product development. The performance running category experienced robust growth, outperforming the overall footwear market in the U.S. Brooks seized this opportunity by introducing the all-new Ghost Max, a groundbreaking addition to its Ghost franchise. The Ghost Max garnered unprecedented retail adoption, contributing to Brooks’ notable market share gain in the footwear segment.

For 2024, Brooks aims to build on its momentum with a robust pipeline of product launches and innovations across core footwear offerings. The brand’s strategic expansion efforts will focus on enhancing brand engagement and reaching a broader audience of runners, fitness enthusiasts, and walkers seeking high-performance products.

Brooks’ global success story extends beyond North America, with significant growth witnessed across regions through its multichannel strategy. Europe emerged as a promising market, with notable sales growth in key countries like Germany and France. In addition, Brooks’ direct-to-consumer channels experienced substantial revenue growth, reflecting the brand’s ability to engage consumers through digital platforms and loyalty programs.

Dan Sheridan, President and COO at Brooks, emphasized the company’s resilience in navigating challenges such as supply chain disruptions and economic uncertainties. He expressed confidence in Brooks’ strategic direction and reiterated the brand’s commitment to supporting its customers and the global running community.

In 2023, Brooks also reaffirmed its dedication to elite athletes and the broader running community through increased investments in sustainability initiatives, community activations, and collaborations with key partners. The brand’s Future Run program, aimed at supporting youth running programs and promoting diversity in the industry, impacted thousands of young runners, underscoring Brooks’ commitment to driving positive change within the running community.

As Brooks Running continues to set new benchmarks in the performance running footwear market, the brand’s unwavering dedication to innovation, customer engagement, and community impact positions it as a formidable player in the global athletic footwear industry.

© 2024 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Berkshire Hathaway’s Brooks Running has experienced remarkable success in 2023, with a 5% increase in global revenue and a 7% rise in North American revenue year-to-date.

The company’s achievements can be attributed to various factors, including its expansion into new markets, recovery from supply chain disruptions caused by the COVID-19 pandemic, and the normalization of inventory levels amidst economic challenges. Furthermore, the return of Brooks’ full product line and innovation pipeline, along with the exceptional launch of the Ghost Max shoe in late September, have been instrumental in driving the brand’s growth and instilling confidence in its ability to achieve double-digit growth in 2024.

Leading the Market

Brooks Running has continued to dominate the adult performance running footwear market in the United States. For the seventh consecutive quarter, the brand has held the number one spot with a 21.4% market share. According to the Running USA 2023 Global Running Survey, released recently, Brooks was also identified as the most preferred brand for training and racing footwear by event participants.

Jim Weber, CEO of Brooks Running, expressed his satisfaction with the brand’s success, saying, “Brooks is winning with runners in an incredibly competitive marketplace. They are more discerning than ever and need their gear to deliver mile after mile. At the same time, we’re extending our reach to active people walking, hiking, or in the gym – because everyone can benefit from the fit, comfort, and performance Brooks’ products provide.”

Innovative Product Lineup

A key driver of Brooks’ momentum has been the introduction of new products into the market. Notably, the launch of the Ghost Max in late September marked a significant expansion of the highly successful Ghost franchise. This new shoe incorporates high-stack cushioning and GlideRoll rocker technology, providing enhanced protection and assisted transitions through the gait cycle. Ghost Max has achieved unprecedented retail adoption and contributed to Brooks’ dominance in the running footwear market. With the introduction of Ghost Max, Brooks now boasts five of the top 10 selling running footwear franchises in the U.S. specialty run channel.

Looking ahead to 2024, Brooks plans to introduce the Glycerin 21, the next generation of the fan-favorite Glycerin franchise, featuring additional DNA LOFT v3 cushioning. In addition, Brooks will launch the athlete-tested Hyperion Elite 4 distance racing shoe ahead of the 2024 U.S. Olympic Marathon Team Trials in February. The brand has also announced the Exhilarate-BL featuring Brooks’ cutting-edge 3D-printed 3DNA midsole technology, available to members of the Brooks Run Club in early 2024.

Omnichannel Growth and International Expansion

Brooks has not only excelled in the United States but also achieved significant growth in international markets. The company’s direct-to-consumer business saw a 25% increase in e-commerce sales in the U.S., while international revenue increased by 22% in France and the United Kingdom, combined, year to date. In addition, Brooks has made notable gains in the Chinese market, a testament to its ongoing regional and omnichannel growth efforts.

To engage with the community and promote its products, Brooks launched a pop-up store in Los Angeles in August. The store offered a dynamic shopping experience and hosted weekly community and fitness programming. Furthermore, Brooks has expanded its distribution capabilities by tripling its distribution facility footprint in the U.S. and U.K., enabling the company to meet the increasing demand across various sales channels.

Supporting Athletes and Global Running Community

Brooks remains committed to supporting athletes on the world stage. The brand’s track and middle-distance athlete, Josh Kerr, achieved a gold medal in the men’s 1500m at the World Athletics Championships in Budapest, and Des Linden secured the American Masters Record at the Chicago Marathon. Additionally, Brooks has expanded its roster of elite athletes by sponsoring marathoner Susanna Sullivan and signing 800m runner Brandon Miller to its Beasts middle-distance team. The brand has also formed an NIL (Name, Image, Likeness) deal with University of Arkansas freshman Shawnti Jackson, who holds the title of the fastest American high school female of all time.

Brooks has also fostered strong relationships within the digital run communities by collaborating with fitness apps such as Strava and Joyrun. Brooks became the first title sponsor of Strava’s Global 5K Monthly Challenge, attracting 3.1 million participants and growing its Brooks Run Club on Strava by 71.6%. The partnership with Joyrun, boasting 128 million users, extends Brooks’ reach and audience engagement throughout China.

Conclusion

As 2023 draws to a close, Brooks Running has demonstrated its resilience and innovation in the competitive athletic footwear industry. With a strong lineup of products, impressive market share, and expanding international presence, the brand is well-positioned for continued success in 2024 and beyond. Brooks’ dedication to athletes, the running community, and its customers has solidified its reputation as a leader in the global running industry.

© 2023 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Brooks Running, a subsidiary of Berkshire Hathaway, has unveiled a new initiative known as ReStart, a recommerce program aimed at reviving and reselling gently used Brooks footwear in the United States. This strategic move not only keeps functional gear in circulation but also allows the brand to tap into the burgeoning recommerce market.

With sustainability at the core of its ethos, Brooks has been steadfast in its commitment to safeguarding the environment upon which we run. The introduction of ReStart represents a significant stride towards achieving these goals by prolonging the lifespan of gently used Brooks gear and generating revenue to fund future sustainability endeavors.

Dave Kemp, Director of Corporate Responsibility at Brooks, emphasized the importance of recommerce, stating, “Recommerce allows us to keep gear on the run while supporting our aim to take responsibility for the impact of our business. The launch of ReStart is an important step in the brand’s long-term, science-backed approach to sustainability.”

The global resale industry currently stands at a staggering $100 billion, growing at a rate five times faster than traditional retail. Experts project that by 2030, recommerce will account for a remarkable 23% of all retail transactions. In line with this market trend, the ReStart program will offer three different condition categories: Like New, Great, and Good. These categories will cover a wide range of Brooks footwear styles, including beloved favorites like the Ghost and Glycerin, as well as speed-oriented products like the Hyperion franchise. Prices for these refurbished items start at an enticing 35% off the manufacturer’s suggested retail price (MSRP).

To power the ReStart program and ensure a seamless shopping experience for consumers, Brooks has teamed up with Trove, a trailblazer in the field of branded resale for over a decade. Trove serves as the recommerce partner for leading brands worldwide, enabling them to reach new customers while also fostering accessibility and choice within their existing communities. By leveraging its proprietary Recommerce Operating System, Trove is spearheading the transition toward more lucrative and sustainable business models. Through their partnership, Trove processes over one million items annually for brand partners, prolonging the life of countless products and preventing greenhouse gas emissions. In fact, between 2016 and 2022, Trove-powered resale and trade-in programs helped avoid a
staggering three million kilograms of greenhouse gas emissions.

Brooks Running’s entry into the recommerce market with the launch of ReStart highlights their dedication to sustainability. By embracing the recommerce model, the company not only ensures that high-quality gear remains in circulation but also solidifies its position as a leading force in the pursuit of environmentally responsible business practices.

As a company, Brooks has shown strong momentum in 2023 in the U.S. specialty run channel, with a year-over-year revenue increase of 42% in the first quarter. The direct e-commerce sales for Brooks grew by an impressive 33% year over year in Q1.

© 2023 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Berkshire Hathaway’s Brooks Running is continuing its success from 2022 into the first quarter of 2023 with an impressive 20% year-over-year global revenue growth, highlighted by a record 32% increase in the Europe, Middle East, and Africa (EMEA) region.

Despite pandemic-related supply chain and inventory issues, Brooks overcame these challenges and brought innovation to the market through new products and experiences. The brand demand was strong across all retail channels. Brooks maintained its position as the top brand at U.S. retail in adult performance running footwear, with a market share of 23%. The Ghost and Adrenaline GTS were the two franchise lines that had the highest sales, with a combined share of over 13% in adult performance run.

Brooks also showed strong momentum in the U.S. specialty run channel, with a year-over-year revenue increase of 42% in the first quarter. The direct e-commerce sales for Brooks grew by an impressive 33% year over year in Q1.

Jim Weber, the CEO, expressed optimism about the future of the premium running category, even in the face of global consumer market uncertainty. “Every runner and walker deserves performance product,” Weber said. “With participation rates healthy and the demand for quality, premium product as strong as ever, Brooks is executing uniquely and earning the trust of retailers and runners.”

Overall, Brooks Running is continuing to thrive in the performance running industry, with strong brand demand, innovative products, and a loyal customer base.

© 2023 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Berkshire Hathaway’s Brooks Running has launched Future Run, a $10 million initiative aimed at helping young people discover the lifelong benefits of running and its community.

The program aims to reach 1 million young runners in the US over the next five years.

Inactivity among kids is rising, and schools are reducing or eliminating funding for physical education and activities. Screen usage among youth is up 50%, and more young people are reporting poor mental health.

The Future Run initiative seeks to help clear participation obstacles for young runners nationwide and particularly those in underrepresented communities.

The brand has partnered with Marathon Kids, which provides evidence-based physical activity programming to help kids adopt an active lifestyle and learn how being active can improve their entire well-being.

Through Future Run, Brooks will also invest in regional partners such as Angel City Elite in Los Angeles, Students Run Philly Style in Philadelphia, Kids of Steel in Pittsburgh, and We Run Houston in Houston. These organizations connect participants to running opportunities, coaching, and mentors in their own backyards.

© 2023 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.