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Swiss brand Upon Soon it becomes a global contender on the market of sportswear.
The company, which sells sports shoes and premium clothing, has reported net sales over the three-month period, which ended on March 31, increased over 40% to 726.6 million Swiss francs ($ 869 million) compared to this year.
Analysts say Nike and Adidas through innovative products and terms.
“The main thing is that they really understood is that they went to the aesthetics of the shoe,” said Aneesha Sherman, the head of Bernstein. “This is exactly like no other silhouette that the consumer has seen. This is what led to its original success.”
Approximately during the initial public donation of 2021 Nike saw Reduced sales During the return from wholesale sellers and retention of innovation. Adidas also felt Rocky quarters As ended it controversial partnership With the west.
According to Factset, Nike and Adidas still own a joint 58% share of the global market, while it is just under 3%. But in the last quarters, the speed of profit exceeded both companies.
“It was a success as well as a design that was huge in 2021, with this mass consumer,” Sherman said. “For the first time, retailers actually went there and searched for new high -growth brands to occupy this (on the shelves) space, and they were right there.”
Now Nike mounts Turn plan Under his new CEO Elliott Hill, who, according to analysts, can create a potential wind.
The company also faces tariffs for uncertainty together with the rest of the sports industries. In Vietnam, about 90% of Vietnam’s sneakers are produced Donald Trump said that might face 46% duty on imports.
Look video above To find out more about how to do sportswear and how he plans to navigate the tariffs.
