A fast-growing rival is a big problem for Nike
A popular sneaker brand has been growing rapidly in recent quarters.
While not every corner of the retail industry seems to be in growth mode, the sports-apparel space has never been more competitive.
That rivalry has sharpened particularly in recent years, with new and upcoming brands gaining more access to fans and market share.
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Top brands like Nike (NKE) , Lululemon (LULU) and Adidas (ADDYY) still reign supreme in many cases. You'd be hard-pressed to visit a gym, fitness boutique or yoga studio where at least half the clientele wasn't wearing one of these three brands.
But smaller brands with firepower (and impressive and growing social-media followings) have been nipping at the giants' heels.
And there seems to be no better time to take on these giants. Brands like Nike are scrambling to maintain relevance as sales slip and enthusiasm eases.
Some CEOs have even called out Nike; JD Sports CEO Régis Schultz claimed the brand "stopped...bringing in new stuff,” adding that "shoppers get bored very quickly" and urging Nike to step up its creative efforts.
Top growing brand making a big impact
One such brand ready to take aim at large incumbents is Hoka, the now fashionable running and walking sneaker brand.
Founded in Annecy, France, by two athletes in search of a shoe that made running feel more like flying, the brand was scooped up several years later by Deckers (DECK) in 2013 and has been a high-flying addition to the portfolio ever since.
Hoka began its ascent largely in suburban neighborhoods, beloved by dog walkers, weekend warriors practicing for their upcoming 10k, and busy parents who needed the extra support. Chances are you've got a pair or you've certainly noticed them out and about — they're hard to miss.
Most Hokas are available in a wide range of bright colors but are best known for their large foot base and support system. The most popular models are the Clifton and Bondi running sneakers, which offer several dozen millimeters of lift and support. Its recent Skyward X model made waves in April, promising the "plushest ride on the road," with a 48-millimeter stack height.
The extra lift may seem excessive, but people have flocked to Hoka for years for that "forgiving impact and ride."
The brand new @hoka Skyward X. ❤️
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