Nike, Inc., KERING, and Adidas dominated the Global Footwear Market in 2022

Global Footwear Market is expected to grow with a CAGR of 5.8% in the forecast period of 2023 to 2030. The years considered for the study are as mentioned below.

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Global footwear market is a fragmented market, which includes a specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favorable market scenarios.

The major players dealing in the global footwear market are introducing a strong range of products provider along with adopting strategic initiatives such as publications, acquisition, business expansion, and award and recognition into the market. This helped companies to maximize sales with an enhanced product portfolio.

For instance,

• In December 2022, Nike introduced Gripknit Technology. The Phantom GX, the newest boot in the Phantom franchise, features Nike's newest Gripknit innovation, which serves the future of athletes and sports
• In November 2022, Nike is launching. SWOOSH is a web3-enabled platform that champions athletes and serves the future of the sport by creating a new, inclusive digital community and experience and a home for Nike virtual creations

Nike, Inc. is the dominating player in the global footwear market. The other key players operating in the market include are Crocs Retail, LLC, Adidas, SKECHERS USA, Inc., Nike, Inc., Okabashi., Bata Corporation, GEOX s.p.a, PUMA, Under Armour®, Inc., Wolverine World Wide, Inc., ASICS Corporation., ALDO GROUP, Relaxo Footwears Limited., KERING, VF Corporation, Deichmann SE, FILA Holdings Corp., New Balance, ECCO Sko A/S, and Burberry, among others.

Nike, Inc.

Nike, Inc. was founded in 1964 and is headquartered in Beaverton, USA. The company is engaged in developing, manufacturing and supplying footwear, sportswear and various sport equipment. The company has product categories, men, women, kids, and customize, out of which footwear is a market focused category.

The company has a wide presence across North America, South America, Europe, the Aisa pacific, Middle East and Africa.

For instance,

• In December 2022, Nike introduced Gripknit Technology. The Phantom GX, the newest boot in the Phantom franchise, features Nike's newest Gripknit innovation, which serves the future of athletes and sports

KERING

KERING was founded in 1963 and is headquartered in Paris, France. The company focus The company focused on providing luxury and sustainable goods. The company has product categories such as Couture and Leather Goods, jewellery, and Karing Eyewear and Couture and Leather Goods are the market focused categories.

The company has a wide presence across North America, South America, Europe, Aisa pacific, Middle East and Africa.

For instance,

• In March 2022, Kering Eyewear revealed that it now owns more than 90% of the renowned sunglasses company Maui Jim, with plans to purchase the remaining shares by year's end. Starting on October 1st, 2022, Maui Jim will be integrated into Kering's financial statements.

Adidas

Algenist was founded in the year 1949 and is headquartered in Herzogenaurach, Germany. The company is engaged in developing, manufacturing and supplying footwear, sportswear and various sport equipment. The company has product categories such as men, women, and kids, out of which footwear are the market focused categories.

The company has a wide presence across North America, South America, Europe, Aisa pacific, Middle East and Africa.

For instance,

• In August 2022, CEO Kasper Rorsted stated that Western markets continued to show strong momentum in the second quarter amid heightened macroeconomic uncertainty. With the sporting event back on track
• In December 2020, for the first time, more than 60 percent of all adidas products will be made with sustainable materials. This means, for example, that they will be made with recycled polyester or consist of sustainable cotton. With that, adidas moves closer to its objective of ending plastic waste.