This year marked a turbulent period of transition for the sneaker and sportswear categories. For category leader Nike, whose stalling sales and cooling brand heat resulted in the removal of chief executive John Donahoe, it will go down as one to forget. The decline was only accentuated by the comeback of its largest rival, Adidas, expertly steered from a crisis of its own by CEO Bjorn Gulden.
Nike’s new top executive, Elliott Hill, has the difficult job of engineering a turnaround as challenger brands, from newcomers like On and Hoka to legacy names like New Balance, seize on the moment to grab market share. On in particular seems determined to break out as a brand beyond running, launching into lifestyle apparel and training gear with the help of new ambassadors FKA Twigs and Zendaya.
The Olympics marked another watershed moment in 2024, as fashion’s growing obsession with sport reached a fever pitch. LVMH’s premium sponsorship of the Paris Games underscored the point, but the fixation did not stop there. LVMH announced a 10-year sponsorship deal with Formula 1 in October, while Chanel became the first title sponsor of the Oxford-Cambridge boat race. Fashion and beauty finally woke up to the marketing opportunity in female athletes, such as young WNBA stars like Angel Reese.
There’s no indication of fashion’s sports obsession letting up. There are almost too many partnership announcements to count, and the challenge now is standing out amid all the noise.
Top Stories
How Angel Reese Became the WNBA’s Fashion All-Star: As a basketball player for Louisiana State University, Reese was a force on and off the court, winning everything there was to win and earning the nickname “Bayou Barbie” for her fierce looks. Now, the breakout WNBA star and BoF 500 member is making waves in fashion and beauty — from pre-game “tunnel walks” to red carpet appearances — and netting deals with major brands.
How Nike Ran Off Course: The American sportswear giant is experiencing its worst slump in a decade. New competition is part of the problem but according to industry insiders and athletes, many of Nike’s wounds are self-inflicted: the results of disruptive restructurings, stalled innovation and uninspiring marketing.
The Sneaker Resale Market Is Broken: Oversupply of once-hyped sneakers like Jordans has caused resale prices to plummet, pushing smaller platforms out of the market and sending the bigger players scrambling to adapt.
The Football Team That Finally Got Fashion Right: Vogue-produced campaigns, fashion week events and special relationships with Off-White and Puma have helped Italian giant AC Milan infiltrate the industry where other clubs have fallen short.
Why Padel Is Luxury’s New Favourite Sport: Brands from Valentino to Prada and start-ups like Pulco Studios are vying to cash in on the racket sport’s aspirational aesthetic and affluent fanbase.
The Rise of Sportswear’s Challenger Brands, in Four Charts: Nike and Adidas still dwarf the competition in the sportswear category. But a new report shows how their market share is being rapidly eaten away by a collective of newer brands, from On and Hoka to Arc’teryx and Salomon.
Athletes Don’t Want Nike or Adidas Anymore. They Want Independence.: Young stars increasingly favour deals with lesser known brands that align with their personal values and allow them to play a bigger role, creatively and commercially.
Inside New Balance’s Plan to Become a $10 Billion Sportswear Giant: In under a decade, the Boston-based company transformed itself from a brand for dads and runners into one of the hottest players in the sneaker world. Now, it’s using the Olympics and an expanding roster of collaborators, athlete partners and sports categories as catalysts to achieve its lofty ambitions.
How Adidas Engineered Its Big Comeback: Two years ago, Adidas was in crisis after terminating its Yeezy business. But since then, the brand has engineered a remarkable turnaround, led by CEO Bjørn Gulden and the success of its Samba sneakers. Gulden and other Adidas executives opened up about the changes that got the company back on track, and what’s next for the sneaker giant.
How Marathons Became Fashion Shows: This year’s New York City Marathon will witness an unprecedented slew of fashion-related activations like branded run clubs, sneaker drops and even a beauty sponsorship as the industry goes all in on running culture.
