(BRK.A), (BRK.B)
Berkshire Hathaway’s running shoe and fitness apparel company, Brooks Running, is on track for double-digit year-over-year growth in 2022.
After ending 2021 with over $1.11 billion in global revenue, in Q1 2022, Brooks took the top spot in the U.S. National performance footwear market for the first time, with 22% market share, based on revenue. Its Brooks Ghost and Brooks Adrenaline were the top two selling franchise lines in the adult performance running market, collectively accounting for 14% of U.S. sales.
“While Vietnam factory closures last year caused us to fall short of fulfilling strong market demand for Brooks in Q1, we remain bullish for substantial growth in 2022,” said Brooks CEO Jim Weber. “Brooks’ performance products continued to lead with runners and the best is yet to come as our new Glycerin styles come to market featuring DNA LOFT v3, a nitrogen-infused midsole compound that delivers an incredibly compelling running experience.”
The 2022 Sports & Fitness Industry (SFIA) Manufacturers Sales Report, found that total U.S. run industry growth—including equipment, apparel, and footwear—grew 15.8% in 2021.
© 2022 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.