OK, Let’s play a game. Let’s say you playing soccer with your friends when all of a sudden you realize that you need some new soccer gears. What are the two brand that pops into your head.
i’m going to take a guess and say you were thinking about Nike or Adidas, and if so you are not alone. That’s because Nike and Adidas are two of the world biggest soccer industry giants that are dominating the sport market.
These two sporting giants have been battling for global supremacy in the soccer market for years. They have a combined revenue of $50 billion.
Adidas’ global soccer revenue was projected at $2.7 billion while Nike’s soccer revenue was recorded at $2.3 billion during the last financial year.
Now that you have an idea of how big these two companies are. Let’s play another game. What pops into your mind when i say New Balance?
If you said running gears then you would have been correct. However, that have slightly changed because the New Balance brand has just become the new kid on the soccer market block.
The Boston-based sportswear firm, have now decided to jump into the world’s biggest sport by launching its soccer business under the New Balance name and Liverpool being its sponsored flagship club.
New Balance is barely starting from scratch as they will be folding their Warrior subsidiary to use the New Balance brand. And don’t you for a second think that they can’t compete with the big guys.
It is reported that the New Balance brand have had an incredible growth in sales that has been rumored to be around 17% annually since 2010 to reach an astonishing $3.3 billion last year.
They are also selling a record-breaking kit deal with England soccer giants Liverpool. They will take over from their subsidiary company Warrior from the 2015-2016 season and will manufacture the club’s training and playing kits. The flagship deal is rumored to be over $40 million per year.
Weather or not New Balance will challenge Adidas and Nike or take the number three spot in the global soccer market remain to be seen. I just can’t wait to see some of the products they will come up with to challenge the big guys.