Footwear is considered a necessity. But, it is also a luxury item. It is a form of expression. It can even be a collector’s item with the sneakerhead following.
The United States has the largest footwear market in the world, amounting to over $80 billion per year. Approximately a third of that revenue is from athletic shoes alone.
While there are certainly plenty of recognizable luxury shoe brands like Christian Louboutin, Manolo Blahnik, Jimmy Choo, and more, none made our list. All of the brands on our list are athletic footwear or casual footwear companies.
There is a surprisingly large difference between the number one and number two and the rest of the list. Number one brand Nike has over 17% share in the market by itself. Adidas, our number two brand, is not far behind. The jump between number two and number three in terms of revenue is astounding.
Nike. Beaverton, Oregon
2022 Annual Revenue: $46.7 billion
Current CEO: John Donahoe
Number of Employees: 79,100
Nike was originally a shoe offered by Blue Ribbon Sports beginning in 1973. Blue Ribbon Sports was founded in 1964 by Bill Bowerman and Phil Knight. The company didn’t change its name until 1978.
Nike is the largest supplier of athletic wear in the world. Their logo, that iconic swoosh, is immediately recognizable worldwide. The swish logo was first introduced in the late 1970s when the company was renamed. The logo as we know it today was introduced in the mid-90s.
The company began expanding its corporation in the late 80s, acquiring several other shoe companies—like Converse in 2003. They also manufacture athletic apparel and sports equipment.
Nike is notorious for endorsing superstar athletes like Michael Jordan.
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Adidas North America. Herzogenaurach, Germany
2022 Annual Revenue: $23.63 billion
Current CEO: Rupert Campbell
Number of Employees: 59,258
This German-based company is the second-largest sportswear manufacturer in the world, after Nike. Originally founded in 1924 as “Dassler Brothers Shoe Factory” by Adolf and Rudolf Dassler.
The Dassler brothers were part of the Nazi party in Germany, and the company facilities were used to manufacture anti-tank weapons during World War II. After the war was over, brothers Adolf and Rudolf had a falling out. They decided to go their separate ways and create separate footwear companies.
In 1949, Adolf created Adidas, while Rudolf went on to establish PUMA (the number three brand on our list). Adolf registered the ‘Adi Dassler adidas Sportschuhfabrik”, naming it after himself; adidas comes from Adold “Adi” Dassler.
Dassler was part of the development of spiked running shoes, with several German athletes wearing them during the 1928 Summer Olympics. It is said that Jesse Owens wore a pair of Dessler’s spikes in his record-breaking 1936 Summer Olympics appearance.
The company was purchased by Bernard Tapie in 1989. After financial hardship on Tapie’s part, the company was later purchased by investors, and Robert Louis-Dreyfus was brought in to run the company in 1993. They purchased Reebok, also on this list, in 2006.
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PUMA. Herzogenaurach, Germany
2022 Annual Revenue: $9.36 billion
Current CEO: Arne freundt
Number of Employees: 18,071
PUMA’s history begins with Adidas. As mentioned above, brothers Rudolf and Adolf founded the “Dassler Brothers Shoe Factory” in 1924. They started out in their parents’ home, expanding into their own factory not long after. After WWII, the brothers had a falling out and went their separate ways.
While Adolf founded Adidas, Rudolf founded PUMA. Like his brother, Rudolf initially named his company based on his name Rudolf Dessler became RUDA.
He founded “Sportschuhfabrik Rudolf Dassler (RUDA)” in 1948; it became PUMA just four months later.
In 1952, PUMA released the Super Atom football shoe with screw-in studs. This introduction revolutionized the industry. PUMA is currently owned by French luxury group Kering and is run by former soccer professional Bjorn Gulden.
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Skechers USA. Manhattan Beach, California
2022 Annual Revenue: $7.445 billion
Current CEO: Robert Greenberg
Number of Employees: 11k+
One of the newest brands on our list by several decades, Skechers was founded by Robert Greenberg in 1992. Greenberg had previous footwear experience, having been a founding member of L.A. Gear. He found a niche in street shoes, or casual footwear, which was not being dominated like the athletic shoe market at the time.
The company expanded internationally in 1997, just four years after producing its first shoe: the “Chrome Dome.” Their initial design was picked up by different distribution chains across the country. The company continued to expand rapidly, going public in 1999.
The popularity of their designs led to a lot of copycats. They began filing complaints against other companies for copying their original designs. Currently, Skechers has over 3,000 original designs in men’s, women’s, and children’s footwear.
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New Balance. Boston, Massachusetts
2022 Annual Revenue: $5.3 billion
Current CEO: Joe Preston
Number of Employees: 8,000
Irish immigrant William J. Riley founded the New Balance Arch Support Company in 1906. The name stems from Riley’s fascination with the three-toed feet of his backyard chickens; he marveled at the way the three toes supported the body and allowed balance.
In 1934, longtime salesman Arthur Hall became Riley’s partner in the company. The company was sold in 1956 to Hall’s daughter, Eleanor, and her husband, Paul Kidd. However, it was still known mostly for its arch supports.
In 1961, the company developed and introduced the “Trackster,” a running shoe with a ripple sole. It is called the world’s first running shoe. On the day of the Boston Marathon in 1972, Jim Davis purchased the company.
Boston became an epicenter for the running boom in the 1970s. Their location allowed New Balance to take advantage of the growing obsession, becoming a go-to running shoe. Today, they are known for their many different styles and provide everything from luxury sneakers to their iconic “dad shoe.”
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Burberry. London, England
2022 Annual Revenue: $3.860 billion
Current CEO: Jonathan Akeroyd
Number of Employees: 8,979
This British company was founded by Thomas Burberry in 1856. Thomas wanted to create clothing that was suited for the dreary English weather. He even invented a breathable fabric that revolutionizes rainwear.
The iconic Burberry trench coat was introduced during World War I and was designed specifically for military use. In 1955, they were granted a Royal Warrant as a weatherproofer. While they are best known for their luxury outerwear and accessories, their footwear is popular enough to land them at the halfway point of our list.
Despite being a British company, they do excellent in the United States, with a revenue of $824 million in the US alone.
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ASICS America. Kobe, Japan
2020 Annual Revenue: $3 billion
Current CEO: Doug Palladini
Number of Employees: 8.8k+
This Japanese company was founded in 1945 after Kihachiro Onitsuka returned home from WWII. The name is an acronym for the Latin phrase “Anima Sana In Corpore Sano,” meaning “You should pray for a healthy mind in a healthy body.”
It was this phrase that inspired him to create athletic shoes and promote a healthy lifestyle in young people. In 1950, five years after their creation, they released a basketball shoe. They followed that up with the release of a marathon shoe in 1953. The design for this shoe was based on the traditional “tabi” footwear worn indoors in Japan.
It wasn’t until 1955, ten years after they were founded that they released their first wrestling shoe. ASICS is a preferred brand among wrestlers today. The company continued to expand and introduce new designs over the next several decades.
ASICS Co., Ltd. was established in 1977 when ONITSUKA Co., GTO Co., and JELENK Co. merged.
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Vans. Costa Mesa, California
2021 Annual Revenue: $2.8 billion
Current CEO: Alan Tanouye
Number of Employees: 5k+
This iconic California skateboarding shoe brand was founded in 1966 by brothers Paul and Jim Van Doren. They also partnered with Gordon Lee and Serge Delia. It was originally called The Van Doren Rubber Company.
The Van Doren Rubber Company manufactured shoes and sold them directly to the public; they sold 12 pairs on their first day of business and had them ready by that afternoon.
Jim’s son Mark was a skateboarder and inspired them to create skateboarding shoes. Vans became a popular choice for skateboarders in the early 70s. They gained international popularity when Sean Penn wore Vans Classic Slip-Ons in “Fast Times at Ridgemont High.”
Though they struggled financially in the 80s, they recovered and are the top-earning brand for the VF Corporation, which acquired them in 2004. The company is also a primary sponsor of Vans Warped Tour.
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Converse. Boston, Massachusetts
2022 Annual Revenue: $2.35 billion
Current CEO: G. Scott Uzzell
Number of Employees: 4,407
Converse is much older than you may expect. Originally founded in 1908 by Marquis Mills Converse, they didn’t begin manufacturing athletic shoes until 1915.
The absolutely iconic Converse All-Star basketball shoe was introduced just two years later, in 1917. Charles “Chuck” Taylor began working with the company in 1923, and these shoes became known as Chuck Taylor All-Star or simply “Chucks.”
The company grew in popularity in the 50s and 60s but lost its footing in the industry when the market was flooded with new options. They regained their popularity in the 80s and are still a well-known shoe brand today.
Converse became a subsidiary of Nike in 2003.
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Reebok. Boston, Massachusetts
2021 Annual Revenue: $1.953 billion
Current CEO: Todd Krinsky
Number of Employees: 9,102
This British-American company was founded in England in 1958 by brothers Joe and Jeff Foster. Footwear was a family tradition for the Fosters. Their grandfather established J.W. Foster and Sons in 1895 at the age of 14. He designed some of the earliest spiked running shoes.
Originally intended to be called Mercury, the brothers struggled to copyright the name. They turned their eyes to a different inspiration. They searched through an old book and came across a South African antelope species called the grey rhebuck, or reebok in Afrikaans. Thus Reebok was born.
The brand was brought to the US in 1979 by Paul Freeman. It was purchased by Adidas in 2006, though it still functions under its original name.
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How many people are employed by the shoe industry?
There are over 2,154,750 footwear sales associates currently employed in the United States. 37.9% of all footwear sales associates are women, while 62.1% are men.
How fast is the sneaker market growing?
The sneaker market is expected to grow annually by a CAGR 5.31% by 2028. The revenue in the Sneakers segment amounts to $75.77 billion in 2023.
What is the most popular type of shoe in the US
Sneakers are the most popular type of shoe in the US. The Nike Air Force 1 is the most popular sneaker. The average cost of a sneaker in 2020 was $70.
