LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global premium shoes market report. This market research report also lists 17 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to Technavio’s research analysis, the global premium shoes market consists of several well-established and regional marketers. With growing awareness about healthy living and physical fitness among consumers, there has been an increased number of participation in fashion trends and sports activities. This has encouraged key players to manufacture a wide variety of innovative sports shoes for customers. To overcome the stiff competition between key market players, there has been an increased focus on new product development and product differentiation.
Vendors offer their products under different categories in the global premium shoes market. Some of these products include casual outdoors, formals, and sneakers in the general shoe category, whereas the sports category includes shoes for hiking, skateboarding, football, tennis, golf, and running. Companies are enhancing and developing their product designs as per consumer demand.
“Celebrity endorsements, digital promotions, and social media marketing are some of the prominent advertising and marketing strategies prevailing among key vendors. The high growth potential of the global premium shoes market is driving vendors to compete and differentiate themselves from other competitors in the market,” says Tamal Saha, a lead retail goods and services research analyst from Technavio.
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Technavio market research analysts identify the following key vendors:
adidas Group
adidas Group designs, manufactures, and markets athletic and sports lifestyle products across the world. The company also offers footwear, apparel, and accessories under the brand name of adidas Golf. It designs, produces, and distributes ice hockey equipment such as sticks, skates, protection gear, and apparel. The company markets more than 840 million products in over 160 countries every year.
ASICS
ASICS manufactures and sells sports shoes, sportswear, and sports equipment, including athletic machines. The company has three broad product categories which are sports shoes, sportswear, and sports equipment. ASICS manufactures and sells running shoes that are used in different sports for men and women. The company offers a total of around 40 variants of shoes for men, while for women and kids, they offer around 30 and five variants of shoes, respectively.
New Balance
New Balance offers a wide variety of shoes for men, women, and kids. The company offers footwear such as running shoes, walking shoes, baseball shoes, skateboarding shoes, golf shoes, cross-training shoes, lifestyle shoes, tennis shoes, and lacrosse shoes. The company's products are sold in more than 120 countries. New Balance also offers a range of shoes under the NB1 CUSTOMISE series that allows customers to customize the shoes as per their personal style, including using different colors to personalize their shoes.
Nike
Nike designs, manufactures, markets, and sells athletic footwear, apparel, equipment, and accessories for men, women, and kids worldwide. Their brands include Nike, Hurley, and Converse. The Nike brand offers products for different sports such as running, basketball, training and gym, soccer, skateboarding, football, surfing, track and field, golf, baseball, tennis, and lacrosse. Nike also offers sports-inspired lifestyle sportswear. The company is focusing on upgrading the quality of its products through R&D activities.
SKECHERS USA
SKECHERS USA is one of the key lifestyle footwear companies in the international market. They design, produce, and market a variety of footwear for men, women, and children under the brand name Skechers. The key brands of the company include Skechers Sport, Skechers Active, Skechers USA, Skechers Kids, and others. The company is focusing on product development, product differentiation, construction of a strong team of global brand ambassadors, domestic and international growth, and the development of global infrastructure.
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