The sports industry has seen several companies focusing on different areas emerge. With new mergers and acquisitions coming up every day, these brands have positioned themselves as the preferred partner for athletes in various sports.
Who has the biggest market share in sportswear? Today, Nike is recognized as the best sports brand, with a revenue of $46.9 billion and assets worth $38.6 billion in 2022. Read on and find out the biggest sports brands in the world currently.
What is the best sports brand in 2023?
From apparel to footwear, equipment and accessories, these companies have built profitable empires that support the sporting industry in unique ways. Here are the best sports brands in 2023:
1. Nike
Several netizens have asked, ''Is Nike the best sports brand?'' The shoe and apparel company is undoubtedly one of the top sports brands in 2023. Nike was founded in 1964 by Phil Knight, a University of Oregon track athlete and his coach Bill Bowerman.
The company comprises Nike, Jordan and Converse, brands driven by a shared purpose to leave an enduring impact. The multi-million company currently has a turnover of $46.7 billion annually and has over 79,100 employees.
2. Adidas
The German apparel company, Adidas, is one of the best sports brands in 2023. Started by Adolf Dassler in 1949, Adidas believes that sports can change lives and aspires to be the best sports brand worldwide.
Adidas is the largest sportswear manufacturer in Europe and initially dealt with footwear alone, but has now diversified to apparel and equipment. Some renowned sports personalities sponsored by Adidas include Lionel Messi, Derrick Rose, and Sidney Crosby.
3. Sky Sports
Sky Sports is one of the best sports brands in the UK, started in 1990. The Sky-Group-owned subscription television was previously known as The Sports Channel and played a significant role in commercializing British sports.
Today, Sky Sports boasts an annual turnover of $15 billion. The company's channels, like Premier League, Football, Cricket, and Formula 1, are available as premium packages across the United Kingdom and Ireland.
4. Cosco Sports
Cosco Sports has been listed as the best sports brand in India. Founded by Raj, Narinder, and Devender Jain in 1980, the firm's mission is to equip Indians with high-quality sports products. Cosco is headquartered in Delhi.
Initially, the Indian company dealt with racquet sports, but now it deals with sports and fitness accessories. Unknown to many, Cosco was the first company in India to manufacture basketballs, and in 2007, they started manufacturing FIFA-approved quality footballs.
5. Puma
Puma was started in 1948 by Rudolf Dassler, brother to Adidas founder Adolf Dassler after they fell out. The German multinational has grown to become one of the best sports brands in the world, with an annual turnover of approximately $8.4 billion.
Today, Puma is the third largest sportswear manufacturer worldwide. The company has partnered with incredible sportspeople, including Usain Bolt, Neymar, and Lewis Hamilton.
6. Under Armour
American-based sportswear, footwear, and accessories company, Under Armour, is also among the best sports brands in 2023. The enterprise is owned by Kevin Audette Plank, an American businessman, who started it in 1996 while in the university.
Under Armour's mission is to make athletes better. Some athletes under the outfit are Stephen Curry, Tom Brady, and Bryce Harper. The company is currently worth $3.3 billion.
7. Asics
Asics is a Japanese footwear and clothing manufacturer launched in 1949 and was initially known as Onitsuka Tiger, and rebranded in 1977. Asics is an acronym for the Latin phrase ''Anima Sana In Corpore Sano,'' which means ''Sound Mind In A Sound Body.''
In 1963, Phil Knight, the Nike founder, impressed by the Onitsuka Tiger Shoes, visited the company's office and asked to be their sales agent in the U.S. Unfortunately, their relationship did not last, and they terminated their agreement. Still, Nike retained the naming rights to several shoes.
8. New Balance
New Balance is a famous sports brand founded in 1906 by William J. Riley. The original idea was not sports-oriented but focused on orthopedics and foot support. In the 1950s, the company gained popularity among athletes, and in 1961, New Balance Trackster, a footwear outfit, was launched under new management.
Today, the firm deals with shoes, apparel and accessories and seeks to amplify all voices to shape the future of the sports industry. Some famous athletes signed under this brand include Sydney McLaughlin and Coco Gauff.
9. MLB Advanced Media (MLBAM)
MLBAM is a limited partnership of the Major League Baseball club owners. The partnership was founded in 2000 and generated about $620 million by 2012.
According to Jobs in Sports, MLB is one of the best sports brands to work for, owing to their attractive benefits package, including gym and retirement. The MLB website generates approximately four million hits daily, and subscribers can access most games' live audio and video broadcasts.
10. Reebok
Reebok is a subsidiary of Adidas and was acquired in 2005 at $4.3 billion. The company is UFC's official footwear and apparel sponsor (Ultimate Fighting Championship), CrossFit and Spartan Race.
The founder, Joseph William Foster, started the company in 1895 at 14 years. By 2018, Reebok had made sales of an estimated $2 billion. Some of the athletes sponsored by the American company include Lexie Brown of the WNBA and Devonta Freeman (NFL).
READ ALSO: Influential athletes sponsored by Nike
Sportsbrief published an article about some leading athletes sponsored by the richest sports brand, Nike. They represent various sports and have established functional business relationships where each party benefits.
Some of the artists sponsored by the company include Cristiano Ronaldo, LeBron James, and Shelly Ann Fraser-Price. Check out the article by clicking on the link above to see the comprehensive list of influential Nike-sponsored athletes.
