The 9 World's Biggest Sport Apparel Companies in 2023
The 9 Biggest Sport Apparel Companies in the World– There are 9 Biggest Sport Apparel Companies in the World of 2023. This data is obtained from the annual report in 2023 published by each company. Specifically, the rank is based on the profitability of the companies. The bigger the profit that they have gotten and the higher rank they will get.
These companies are certainly having a huge market of sports apparel products. Obviously, we can see their logos brands in several mass media and electronics too. Furthermore, their products are also attached to famous professional sports athletes or clubs. In terms of their marketing strategy, they sacrifice tons of money to increase their brand awareness all over the world.
In 2023, after the global recession in some countries, these companies struggle to increase their sales. Many dynamics conditions influence the company’s performance. Because some countries face economic recession and expanding unemployment, they need to struggle with innovative ideas and breakhtrough. In terms of their performance in 2023, here are some of these biggest apparel companies’ ranks. It is based on the amount of net profit generated by the company in 2023.
Table of Ranking of the 9 Biggest Sport Apparel Companies in 2023 Based on Net Income
Regarding the company’s profit, of course, it will be different from one another depending on its performance in that year. Regarding the company’s financial condition, the following is additional data related to the company’s assets and liabilities. These are taken from the Balance Sheet of the annual report in 2023.
Table of Assets and Liabilities of 9 Biggest Sport Apparel Companies in 2023
Of course, many giant companies in the sports apparel industry compete with each other. They try to become superior companies with different product specifications. Here are some brief descriptions related to the company’s financial condition, which are summarized from the annual reports of the companies above.
Brief Descriotion of 9 World's Largest Sport Apparel Companies in 2023
1.Nike
Nike is a multinational company from the United States that operates in the design, development, manufacturing, and marketing of sports apparel products ranging from footwear, clothing, equipment, to sports and fashion accessories worldwide. Until now, the company’s headquarters is in Beaverton, Oregon, Portland, United States.
Based on its history, the company was founded on January 25, 1964, originally with the name of “Blue Ribbon Sports” by Bill Bowerman and Phil Knight, and officially changed its name to Nike, Inc. on May 30, 1971. The name “Nike” was came from the philosophy of the goddess Nike which symbolizes the goddess of victory and fame from the ancient Greeks. Globally, Nike markets its products under its own brands namely Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Blazers, Air Force 1, Nike Dunk, Air Max, Foamposite, Nike Skateboarding, Nike CR7 to Converse. Over time, in 2020, this company has employed a total of more than 75 thousand employees throughout the world with Nike Official retail Stores reaching more than 700 spread throughout the world.
In addition to the Nike brand, this company also has various subsidiaries brands, namely Air Jordan and Converse. In 2023, financially, Nike earned revenues of 51.3 billion US dollars, with a net profit of 5.7 billion US dollars. With This Performance, Nike had become thw world's biggest sport apparel company in the world of 2023.
In general, Nike is heavily involved in sponsorship activities at leading sporting events, sports clubs and stars. The leading sports tournaments sponsored by Nike include the NBA basketball league (supplying all NBA club jerseys) and several European leagues. While sports clubs sponsored by Nike are Barcelona, Liverpool, Paris Saint Germain and leading sports stars are also endorsed by Nike such as Michael Jordan, Lebron James, Christiano Ronaldo, Ronaldinho, Roger Ferderer, to Rafael Nadal.
2.Adidas AG
Adidas AG is a German multinational apparel company, founded and headquartered in Herzogenaurach, Germany. This company is a leading company that designs and manufactures shoes, clothing, and sports accessories. Until now, Adidas is one of the Biggest Sport Apparel Companies in the World with the Adidas and Reebok brands.
Historically, Adidas’ business journey began with a family partnership between Adolf Dassler and his brother Rudolf Dassler in 1924 under the name Gebrüder Dassler Schuhfabrik (“Dassler Brothers Shoe Factory”). Over time, due to the conflict between Adolf Dassler and Rudolf Dassler in 1949, they agreed to separate and establish their own business. Adolf founded Adidas, and Rudolf founded Puma. These two companies are still competing with each other to this day.
Adidas is famous for three stripes logo. This logo has been using on the company’s clothing and shoe designs as a marketing tool that Adidas purchased in 1952 from the Finnish sports company namely Karhu Sports. The existence of this logo symbolizes a symbol of success so Dassler describes Adidas as a “three stripes company”. Along with the company’s business development, the company has 2500 retail stores spread across the country. Until 2023, financially, Adidas earned 21.4 billion euros in revenue or equivalent with 23.7 billion US dollars, but addidas suffered net loss of 14 million euros or equivalent with 15 million US dollars.
Of course, as ordinary people, many of us are familiar with Adidas because it has sponsored many well-known sports clubs and athletes. In the field of football, the leading soccer clubs sponsored by Adidas such as Manchester United, Bayern Munich, Real Madrid, Juventus, and several other big clubs. In addition to several football clubs, several sports stars which has a business agreement with Adidas such as Lionel Messi, Mohammed Salah, Paul Pogba, Zinedine Zidane, David Beckham, James Harden (Basketball), to Andy Murray (tennis).
3.Li-ning
Li-Ning Company Limited is a sportswear and sports equipment company from China. Historically, Li Ning, who is a former Chinese Olympic gymnast, found this company in 1990. Nowadays, Li Ning has become the Executive Chairman. Operationally, the company is still headquartered in Beijing, China.
Although the company is relatively new, it has made good progress by achieving some positive performances in its business. In 2023, financially, this company gained revenue equivalent to 27.5 billion Renminbi (RMB) / Yuan or equivalent to 4.4 billion US dollars with net income / profit reaching 4.4 billion Renminbi (RMB) / Yuan or equivalent to 3 billion US Dollar. Until now, several athletes sponsored by Li-Ning include Dwane Wade, Shaquille O’Neal to Jimmy Butler. Furthermore, Li-Ning also sponsored several sporting events such as the 2007 AFC Asian Cup and 2008 AFF Championship, and several World Badminton Championships tournaments.
4.FILA
Fila Holdings Corp.(FILA) is a sportswear manufacturer that designs shoes and clothing founded by Ettore and Giansevero Fila in 1911 in Biella, Piedmont, Italy. In 2003, the company was sold to United States-based Sports Brand International but in 2007, Fila Korea acquired the company. As a result of this acquisition, the company’s head office was also moved. Initially, the company was headquartered in Biella, Piedmont, Italy from 1911 to 2007. However, since it was acquired by FILA Korea, the company’s head office has moved to Seoul, South Korea. Famous sports stars such as Boris Becker, Grant Hill, and Jerry Stackhouse has some business agreement with FILA. Financially in 2023, this company earned revenues of 4 Trillion Korean Won (KRW) or equivalent to 3 Billion US dollars with a net income/ profit that reached 153 billion Korean Won (KRW) or equivalent to 0.11 billion US Dollars.
5.Puma
Puma SE, also known as Puma, is a German multinational company that designs and manufactures sports apparel such as footwear, apparel, and accessories. The company slii has main office in Herzogenaurach, Bavaria, Germany. Based on its history, Rudolf Dassler found this company in 1948. Internally, Rudolf was the sibling with Adolf Dassler who is the founder of Adidas.
Over time, this company has experienced rapid development by employing around 14 thousand employees throughout the world. In 2023, financially, this company achieved revenues of around 8.6 billion euros or equivalent to or equivalent to 9.5 Billion US dollars with a net profit of 253 million euros or equivalent to 280 Million US Dollars.
Some of the sports stars that Puma endorses are Neymar, Gianluigi Buffon, Sergio Agüero, Antoine Griezmann, Marco Reus, Romelu Lukaku, Luis Suárez, David Silva. Several leading sports clubs are also partners of this company such as A.C. Milan Borussia Dortmund, Manchester City F.C., Olympique de Marseille and Valencia CF.
6. Mizuno
Mizuno Corporation is a Japanese sports equipment and sportswear company founded in Osaka in 1906 by Rihachi Mizuno and his younger brother Rizo. Historically, they started selling their own goods in 1907. To date, Mizuno is a global company that manufactures a wide range of sports equipment and sportswear, for golf, tennis, baseball, volleyball, soccer, running, rugby, skiing, swimming, cycling, judo, table tennis, badminton, boxing, and athletics.
In 2023, financially, this company earned a revenue of 250 billion yen, equivalent to or equivalent to 1.77 billion US dollars, with profit of 15 billion yen, equivalent to or equivalent to 100 million US dollars. Regarding the popularity of the company’s brand, several famous sports stars that became that has some business agreement with Mizuno such as Pablo Aimar, Roberto Carlos, Hulk, Fernandinho, and Rivaldo.
7. Yonex
The company was founded in 1946 by Minoru Yoneyama as a manufacturer of wooden buoys for fishing nets. However, the company exit from this market due to the invention of plastic buoys. This moments makes Yoneyama’s commitment to go forward in terms of development of technology.
In 1957, Yoneyama started making badminton rackets but for another company. It wasn’t until 1961 that the first racket was introduced, and in the next two years an export company was founded to help distribute its rackets around the world. After the company started manufacturing aluminum badminton rackets in 1969, the application of technologies also in the tennis rackets in 1971. The company started experimenting with graphite shafts for both tennis and badminton racket types and found that this technology would also be useful for golf clubs.
Several professional athletes have some business agremeent/ endorsement with this company, such as tennis star Martina Navratilova and several national badminton athletes such as Liem Swie King, Kevin Sanjaya Sukamuljo, Marcus Fernaldi Gideon, Candra Wijaya to Taufik Hidayat. Financially, in 2023, the company obtained revenue of 116 billion yen, or equivalent to 820 Million US dollars, with profit of 8.8 billion yen, or equivalent to 60 million US Dollars.
8.Asics
ASICS (アシックス Ashikkusu) or ASICS Ltd. started the business with the initial name Onitsuka Co., Ltd on September 1, 1949. Kihachiro Onitsuka found this company. Along with the journey, in 1950, the company started producing basketball shoes at its home in the city of Kobe, Hyogo Prefecture, Japan. The name Onitsuka was later changed to ASICS. ASICS itself is an abbreviation of the Latin “Anima Sana In Corpore Sano” which means in a healthy body, there is a strong soul.
Until now, This Company can make some various sports apparel products, such as footwear, sportswear, and several other sportswear. In 2023, this company generated revenue of 4 billion US Dollars and net income of 251 million US Dollars.
9.Under Armour
Under Armor, Inc. is an American sports equipment company that manufactures footwear, sportswear, and casual wear. Historically, Kevin Plank founded this company on September 25, 1996. Until now, the company’s head office is located in Baltimore, Maryland, United States. In assisting the marketing activities of their products, Under Armour have the business partnership with several professional athletes. Some football player Trent Alexander-Arnold, Memphis Depay, Granit Xhaka, basketball star Stephen Curry and boxer Anthony Joshua are some of the professional athletes are some of the business partner of Under Armour.
In terms of marketing, the company has also opened marketing offices in major world cities Amsterdam, Munich, Shanghai, Guangzhou, Hong Kong; Jakarta, Tokyo, and Sydney. In terms of finance, in 2023, this company recorded revenues of 5.7 billion US dollars and gained net income of 0.23 billion Dollar
The Summary of World’s Biggest Sport Apparel Companies in 2023
Source Refences of 9 Biggest Sport Apparel Companies in the World
Nike. 2023. Annual Report 2023. Accessed July 11, 2024, via https://investors.nike.com/investors/news-events-and-reports/?toggle=earnings
Adidas. 2023. Annual Report 2023. Accessed on July 13, 2024, via https://report.adidas-group.com/2020/en/
Li-ning. 2023. Annual Report 2023. Accessed on July 11, 2024, via http://ir.lining.com/en/ir/presentations/pre210319.pdf
FILA. 2023. Annual Report 2023. Accessed on July 11, 2024, via https://www.filaholdings.com/en/invest/ir.asp
Puma. 2023. Annual Report 2023. Accessed July 11, 2024, via https://about.puma.com/en/investor-relations/financial-reports
Mizuno. 2023. Annual Report 2023. Accessed July 11, 2024, via https://corp.mizuno.com/en/investors
Yonex. 2023. Annual Report 2023. Accessed on July 11, 2024, via https://www.yonex.co.jp/company/en/ir/material/
Jasics. 2023. Annual Report 2023. Accessed July 11, 2024, via https://corp.asics.com/en/investor_relations/library/annual-reports
Under Armor. 2021. Annual Report 2023. Accessed July 11, 2024, via https://about.underarmour.com/investor-relations/annualreport2020