Observations on The Running Shoe Business (end of 2025-early 2026): state of sport and business

Late November-early March has been  a busy time for me. I had the NIKE Regional SW (Nov. 22), Brooks Regional Midwest (Nov. 29), The Running Event (Dec 2-3), and NIKE Cross Nationals (Dec 3-6). In January, I had the NB Indoor (January 22-24), Dubai Marathon ( Jan 24-Feb 3), Madrid Indoor (Feb 3-10), Ras Al Khaimah Half (Feb. 10-15), and USATF Indoor (Feb 27-March 1).

From these events, (and my team at World cross), conversations had, I have made these observations:

1. ASICS has made big moves. ASICS noted in Middle East, but all across the world of running. ASICS became presented at Dubai Marathon (Feb. 1) and RAK Half Marathon (Feb.14), and will have the ASICS LA Marathon, where they are title. Product is fantastic (just experienced ASICS Gel-Cumulus 28, which was impressive, and the thoughtful apparel of ASICS). ASICS is making strong moves with elite athletes as well, still the quiet giant. Can they get to top of performance running shoe position? good question.
2. Brooks doing well. The Ghost Max 3, the Ghost 17 and Brooks Cascadia GTC are my three fave shoes. Brooks product is so good, and customer service so good, that miscues in other areas do not seem to matter.  Brooks took big moves in gambling on saving the legacy of the Foot Locker XC, partnering with team from FL regionals and Sound Running to put on a very good first year. Brooks continues to excel in customer service, quality control and growth, both in US and globally, especially in Asia. Brooks needs to be a bit more fresh in its marketing messages and need for control of events. Social media should be more prominent for Brooks, around Brooks XC, they did not get the response that they deserved. The most underrated story of year? How Brooks saved FL XC tradition. 
3. adidas has made a foray into running again in North America. The adidas brand is huge, but in U.S. much of it is fashion and its running legacy, cemented by fantastic elite athletes all over social media, needs more support in running in North America, whiere its footprint is miniscule. The product is fantastic, and with events like Boston Marathon, its apparel is hip and authentic. adidas running performances, among its elite athletes, needs to be promoted by adidas North America, as a way to reach the 14-22 critical consumer!

   

4. New Balance focused on product and culture. Like how NB is all over Linked-In, probably best presence for brand there, reaching media and influencers. NB NIL athletes have done well. With Femke Bol, Sydney McLaughlin, Elle St. Pierre, NB has fine women elite, but needs American male elite athletes, I think Graham Blanks could be a big contributer. Like the NB Fuel cell an their NB Indoor and Outdoor have outstanding growth, they may need to put cap on those events. The NB Indoor GP on January 24 was a superb event.
5. Diadora working to get into the mix. The Italian based brand has fashion and serious running, with a very smart email blast strategy. The combinaiton of heritage, fashion and serious running is a good sixth brand for many running performance stores, the challenge is finding a rep. I do like their signing of a Diadora NIL athlete from Oregon.
6. PUMA is a brand with so much promise, but challenges. PUMA has a great history, and some fantastic product, some ground-breaking. With a 29 percent investment from one of China’s top footwear brands, how will that affect PUMA? PUMA has some of the best athletes, Mondo Duplantis, Karsten Warholm, among others, and PUMA needs some focus in the U.S. PUMA needs to be managed better in U.S. and PUMA needs to appreciate its assets.

   

7. NIKE is making some great progess, challenges persist. The NIKE Pegasus and NIKE Vomero were well received from Pegasus 41 and Vomero. The Vomero Premium is an incredibly popular top end running shoe. The Pegasus 42, one of their most popular channels is about to launch. NIKE Cross, NIKE Indoor and NIKE Outdoor have helped NIKE reach the young culture. Their biggest challenge? No one seems to be able to make decisions. The brand was nimble in its youth. If NIKE can gain give its middle management some authority, and focus on long term growth. The product is great, the new ACG product looks impressive. The key for NIKE is convincing consumers and retailers that they are serious about the performance DNA and that they are the best brand for the consumer! NIKE has serious group of competitors, who are all chipping away at the Swoosh mantle. The truth is, NIKE is best when back to the wall and with competition. If NIKE uses its assets, human capital, it will succeed. NIKE also has to remember who its friends were and are. NIKE culture would be great to remember the 1970s inconic NIKE poster: There is No Finish Line. One final note, when NIKE does well, the industry does well.

   

8. HOKA is going through lots of changes. Product is strong, events are strong, focusing on bringing in some stand out athletes as ambassadors. The father of maximalist shoes has a more diverse line now, which is really great. The retail relationships are strong, they key for HOKA is to reach the young consumer, serious runners and fashion leaders, and women. Lots of ex-NIKE folks in Goleta, but Deckers/HOKA is not NIKE. Each brand has a unique culture. 
9. On running is at cross-roads. Swiss management, global approach, wonderfully received product, support from women and the consumers love their shoes. On has picked up some fantastic athletics, from Ditaji and Mujinga Kambundji, to top triathletes, to some fine future athletic prospects. On also works hard with retail relationships. Their long term approach is paying dividends. On running is also realistic, as they know that they have a long road to climb. On running could be huge in U.S.
10. OOFOS has an opportunity. OOFOS launched a new shoe, the CLUB Plus. Their new co-CEO, Angel Martinez told me it would change my life. Angel is right, it is a wonderful non-running shoe. Angel wants OOFOS to be the All Day Recovery shoe. I think that they are on to something. The key is knowing that, after ten years, OOFOS is still a blank slate, a tabula rosa for the consumer. As OOFOS reaches the influencers (coaches and trainers, performance athletes), with the help of team builders like Dwayne Harms, and supports the retail community, they could be the story of the next five years. The funny thing is, Birkenstock and others should have owned this category, and they have absolutely no clue. OOFOS, and their management team has a plan. Stay tuned.
11. The Running business is strong. In its fourth running boom, running is a a global sport, with cultures different in each and every region. Running is different in Germany than in US or Canada. To be successful, brands need to know when to message locally and when to message globally. Product is king, customer service is king and brick and mortar retail is both sales channel and influencer. Advertising is not posting on social media. Brands no longer seem to know how to advertise. Where are the #Justdoit! or #BoKnows, or #ImpossibleisNothing? Communication in a 24/7 world is key!