Right, so I was chatting with my mate Tom the other day at JD Sports, and he goes, “Nike’s not what it used to be, is it?” I’m looking around and I think he’s mental, as the place is still full of Air Max and Jordan stock. But then he shows me the figures on his phone from some retail report.
God, Nike’s competitors are absolutely crushing it right now. Like, properly taking chunks out of Nike’s empire.
Adidas Is Having a Proper Moment
Here’s what got me thinking. Adidas is expected to take even more market share from Nike in 2025, and they are already snatching big chunks of the apparel space. Tom wasn’t wrong, as the three stripes are on fire right now.
I’ve been seeing this in real time. My nephew is into Adidas Gazelles over Air Force 1s; my sister just picked up Ultraboosts instead of React Nikes. Heck, even my dad, who has worn only Air Max shoes for 30 years, bought some Adidas NMDs last month.
Adidas and Puma combined don’t make anywhere near Nike’s global revenues, but that gap is closing every quarter. Adidas is no longer merely challenging, but it’s winning the battles once dominated by Nike.
Nike Competitors Are Coming From All Angles
The reason Nike is threatened now has less to do with mental and more to do with the number of brands taking bites out of it. It’s not just Adidas and Puma anymore. New Balance grabs the most mindshare with teens in recent surveys, which is insane if you think about it. A 114-year-old Boston company beating Nike with teenagers? That’s not supposed to happen.
Then you’ve got brands like On Running – a Swiss company no one had heard of a few years ago; now they’re everywhere. Hoka’s doing bits in the running world. Skechers is nipping some market share. Both New Balance and Skechers are expected to gain market share in the sportswear space given their flexibility and proven athlete/brand relationships.
The New Balance Madness
Speaking of New Balance, now what’s going on there is quite interesting. I remember when they were simply called “dad trainers,” referring to the boring grey shoes that your father wore for gardening. Now? Now? Every cool kid in London is wearing 990s or 550s.
My daughter’s 16, right? Last year she wouldn’t be caught dead in anything but Air Jordans. This year she’s asking for New Balance 2002R. Says they’re “more authentic” than Nike. Whatever that means.
The brand has gone from selling to middle-aged joggers to being the coolest thing on TikTok. That’s some serious brand transformation.
Adidas Football Domination
Here’s where it gets really tasty. The sportswear industry is seeing a massive shift, and traditional market forces are no longer at play. Nowhere is this more apparent than in football.
I was at the England game last month and, honestly, half the stadium were in Adidas. It’s not just the official England gear; it’s proper street stuff, retro shirts, Sambas, and Gazelles. Nike’s still the official kit sponsor, but Adidas owns the culture around football right now.
My local team switched from Nike to Adidas this season, and shirt sales went berserk. The Adidas versions simply look better and seem somehow more authentic. Nike’s stuff started feeling a little corporatish, if you know what I mean.
The Running Revolution
That’s where Nike is really getting whupped. It used to be, if you wanted serious running shoes, you bought Nikes. Now? On Running is everywhere, Hoka is thriving with its chunky soles, and even Asics is experiencing a renaissance.
I began running during lockdown (as we all did) and immediately went to Nike, because that’s what you do, obviously. But the running club that I happened to join? Half of them are in Swiss On shoes; half in Hokas. Nike is nowhere to be seen on the actual runners’ feet anymore.
Nike Competitors Playing Smarter Games
One of the clever things about these brands is that they’re not trying to beat Nike at Nike’s game. They’re finding different angles.
New Balance plays up the made-in-USA/UK thing hard. Adidas hypes its German engineering and football heritage. On Running is aimed towards real runners, not weekend warriors. Hoka targets people who want a lot of cushion.
Nike wants to be all things to all people. These other brands pick their fights and just crush it in those areas.
The Sustainability Angle
This is where Nike is really faltering. Adidas has about 11% of the market share and is noted for its sustainability commitments and fashionable options. My eco-warrior sister won’t so much as pick up a pair of Nikes these days due to their production methods, but she’ll cheerfully cough up £150 for Adidas trainers made out of ocean plastic.
Allbirds has built its entire brand on the use of sustainable materials. Veja’s doing bits with its ethical production. Even Puma is pushing its “Forever Better” sustainability stuff harder than Nike is pressing on with their own green initiatives.
Young people care about this stuff now, and Nike feels behind the curve.
The Lifestyle Shift
Here’s what really gets me: Nike built their empire on performance and sport. But now everyone just wants nice-looking trainers for the pub, not for running marathons.
Brands like Common Projects, Veja, and even Converse (which Nike owns but feels separate) are absolutely killing it in the lifestyle space. Key companies like Nike, Adidas, Puma, Under Armour, New Balance Athletics, Reebok International, ASICS Corporation and Skechers held a combined market share of 30%-35% in 2024, but that pie’s getting split more evenly.
The Celebrity Factor
Nike used to have celebrity endorsements. Michael Jordan, Tiger Woods, Ronaldo. But now? Travis Scott is doing more for the Jordan Brand than it’s doing for itself. And other brands are signing massive names, too.
Kanye’s Yeezy line (when it wasn’t cancelled) was bigger than most entire Nike sub-brands. Rihanna’s Fenty Puma stuff was massive. These Nike competitors aren’t just copying Nike’s playbook – they’re writing new rules.
What This Means for Us
As someone who’s bought Nike stuff for 20+ years, this shift is properly noticeable. The local Foot Locker used to be 70% Nike; now it’s maybe 40%. JD Sports has entire walls dedicated to New Balance and Adidas.
My shopping habits have changed, too. I used to default to Nike for everything. Now I actually compare options. Got Adidas for football, New Balance for casual, and On Running for actual running. Nike’s just one option among many.
The Bottom Line
Nike is forecast to see the biggest drop overall, falling 0.3 percentage points while competitors gain ground. That might not sound like much, but in a market worth billions, those fractions represent massive chunks of money.
Nike’s still the biggest, still makes brilliant products. But they’re not the automatic choice anymore. Nike competitors have figured out how to compete, and they’re doing it brilliantly.
Whether Nike fights back or just accepts being first among equals remains to be seen. But one thing’s certain: the sportswear game’s never been more competitive, and that’s brilliant news for people like us buying the gear.
The swoosh isn’t going anywhere, but it’s definitely sharing the spotlight now. About time, really.
