U.S. newspapers are reporting that Adidas has lost its previous position as second largest brand (well) behind Nike yet (way) ahead of the rest of the pack in the world’s largest sporting good market. The new silver medalist is Under Armour with total sales of $1.2 billion. Adidas made $1.1 billion. This follows a substantial gain in turnover for UA in the first eight months through August over last year’s period with an increase of about 20 percent. The Three Stripes, on the other hand, saw sales fall by no less than 23 percent.
The changes in rank #2 and #3 don’t have much impact on the undisputed market leader. Nike’s turnover continues to remain comfortably high at $8.9 billion. Nonetheless, UA has certainly got Nike’s attention after its tremendous performance over the past few years. The Swoosh’s recent efforts to keep Under Armour in check recently culminated in a battle between the two U.S. players over the endorsement of Kevin Durant, one of the top athletes in the NBA basketball league. Nike closed out the competition, but it cost a lot of money, reportedly between $300 and $350 million for the renewed 10-year contract with Durant.