SEATTLE--(BUSINESS WIRE)--Brooks Running reached a new record in global quarterly revenue in the second quarter of 2024, up 15% year over year driven by double-digit growth in its wholesale and direct-to-consumer channels. In North America, Q2 revenue increased 19% year over year with continued success of the brand’s Glycerin 21 super franchise, Ghost Max, and a strong Ghost 16 introduction. Brooks maintained No. 1 market share in the adult performance running footwear market at U.S. national retail for the 10th consecutive quarter1 and held the top spot in the U.S. specialty footwear retail segment through the first half of 2024.2
Brooks’ business in the Europe, Middle East, and Africa (EMEA) region returned to growth with revenue up 4% as the retail landscape showed signs of improvement. Recently released Q1 market data shows Brooks’ adult performance running footwear market share in France and Germany combined increased nearly a full point year over year.3 Demand for Brooks in France and Germany led the way with sales growth of 12% and 10%, respectively, in the Q1 adult performance footwear category, compared to the same quarter in 2023.4 In the Asia Pacific and Latin America (APLA) region, Brooks launched a retail store in Shanghai earlier this month, its first in mainland China, with a second Shanghai location planned for later this year, in addition to first-ever storefronts in Beijing and Guangzhou.
“Brooks’ record results this quarter demonstrate the strength of our brand, business, and product,” said Dan Sheridan, CEO. “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 transition to the CEO role in April, former Vice President, Managing Director of Brooks International Matt Dodge becomes President and Chief Operating Officer, effective Aug. 1. Dodge returns to the brand’s global headquarters in Seattle after growing Brooks’ business and team in EMEA and APLA regions for the past six years. Prior to his role in Europe, Dodge led Brooks’ global Human Resources and Legal teams.
Also effective Aug. 1, Josh Vaughan assumes the Managing Director position in EMEA, bringing more than 15 years’ experience in the outdoor performance industry to the role. Vaughan recently served as the EMEA General Manager for the icebreaker and Smartwool brands, both of which are owned by the VF Corporation. He previously held leadership positions with sporting brands in Australia, North America, and Europe.
Leading with performance product innovation across styles and experiences
Brooks held half of the top 10 shoe styles at U.S. specialty retail for the third consecutive quarter (Ghost, Ghost Max, Glycerin, Glycerin GTS, and Adrenaline GTS).5 With 14.1% footwear growth in Q2 in this discerning channel, the brand outpaced the total market, which grew 8.3%.6
Brooks updated its Hyperion shoe franchise with the introduction of the Hyperion Max 2 in June. The Hyperion Max 2 features DNA FLASH v2 nitrogen-infused foam and an added SpeedVault Plate to accelerate heel-to-toe transition and deliver a fast and responsive underfoot experience. Initial Hyperion Max 2 sales show strong consumer demand, with specialty retail and e-commerce sales up nearly three times that of the prior version within the same period, with additional growth expected through the fall marathon season.
In the cushion category, Brooks updated the fan-favorite Ghost 16 with DNA LOFT v3 lightweight cushioning and an enhanced upper that secures the foot and increases comfort, propelling the Ghost 16 to the largest ever new product introduction for Brooks (by pairs sold). In the second half of this year, the brand will continue to push the pace of innovation, with 10 new or updated footwear styles slated to be released between August and December.
Evolving the Brooks brand as running participation grows
In May, Brooks launched a new global brand platform, “Let’s Run There,” inspired by the evolving role running plays in consumers’ health and wellness journeys. The Let’s Run There advertising campaign, which showcases an evolution of Brooks’ brand expression, is the first new global brand platform in 25 years.
As part of the Let’s Run There launch, Brooks partnered with actor Jeremy Renner to authentically tell his story of recovery and returning to running following a tragic accident, inspiring others to pursue their own path to unlock the best in themselves. In the first two months following launch, the video received more than 15 million views on Instagram.
Brooks’ refreshed brand platform launches as running participation continues to grow. From December 2023 to May 2024, race participation in the U.S. grew 8% year over year, surpassing pre-pandemic levels according to the RunSignup 2024 Midyear RaceTrends Update.
Brooks athletes lead the pack on the track and trail
Brooks’ investment in elite athlete development flourished this quarter as three Brooks Beasts—World Champion Josh Kerr (GB 1500m), National Champion Nia Akins (USA 800m), and Brandon Miller (USA 800m)—and Brooks athletes Chari Hawkins (USA Heptathlon), Thomas Fafard (CAN 5000m), Guem Abraham (SSD 1500m), Brooke Buschkuehl (AUS Long Jump), Michael Roeger (AUS Para T46 1500m), and David Bryant (AUS Para PTS5 Triathlon), were selected to represent their countries this summer on the world stage.
Brooks continued to build its roster this quarter, signing two new athletes to its Brooks Beasts professional track team and adding six standout NCAA competitors as NIL athletes. In June, Brooks hosted its annual PR Invitational track meet for the top middle and high school runners from across the U.S. More than 200 athletes competed, notching 80 personal records (PRs) and seven meet records.
In competitive trail running, Brooks’ athletes achieved 117 podiums, including 72 first-place finishes, since the beginning of the year. In June, Brooks’ trail athlete Roberto Delorenzi, of Switzerland, became the European champion in the Classic Up and Down, won three titles in the Skyrunner World Series, and finished third in the Marathon du Mont Blanc. Earlier this month Luke Grenfell-Shaw won the 100K of Val d’Aran by UTMB, marking Brooks’ first win for the European trail team at the ultra-race distance in international competition.
About Brooks Running
Brooks Running creates market-leading performance running footwear, apparel, sports bras, and accessories distributed worldwide. Brooks exists to inspire everyone to run and be active, through innovative gear, tools, and experiences designed to take you to the place that makes you feel more alive. Since 1914, Brooks has been propelled by a never-ending curiosity with how humans move, pushing the limits of motion science, engineering, and technology to create gear that unlocks the power of energy and movement for everyone. Brooks is a subsidiary of Berkshire Hathaway Inc. and is headquartered in Seattle, Washington. Visit www.brooksrunning.com for more information or follow @brooksrunning.
1 Circana/Retail Tracking Service, U.S. dollar sales, April – June 2024
2 Upper Quadrant Specialty Run Market Data
3 Circana, Retail Tracking Service, France and Germany (combined), Euros value sales, January – March 2024 vs. 2023
4 Circana, Retail Tracking Service, France and Germany (combined), Euros value sales, January-March 2024 vs. 2023
5 Upper Quadrant Specialty Run Market Data
6 Upper Quadrant Specialty Run Market Data