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Brooks Running, the renowned running shoe maker under Warren Buffett’s Berkshire Hathaway, is targeting China and Europe for expansion under its new chief executive, Dan Sheridan.
With ambitious plans to open its first store in China this fall, Brooks aims to capitalize on the growing running participation in these key markets, viewing them as pivotal for long-term growth.
Focus on the China Market:
China, identified as a top-10 market for running participation, presents a significant growth opportunity for Brooks.
Sheridan emphasizes that Brooks is committed to a long-term strategy in China, recognizing the country’s potential as a key market for the brand’s expansion efforts.
European Market Revival:
Despite recent geopolitical tensions and economic uncertainties, European markets are showing signs of recovery despite recent challenges.
Sheridan believes Brooks is well-positioned to leverage this resurgence, capitalizing on emerging opportunities as consumer confidence rebounds and retail conditions improve.
Global Growth Potential:
Sheridan underscores the vast growth potential in the global running market, predicting a doubling number of runners worldwide by 2031.
With its extensive experience and industry-leading position, Brooks aims to tap into this growth trajectory, targeting the 300 million individuals engaged in running or walking as their primary fitness activity.
Leadership Transition and Vision:
Dan Sheridan, who succeeds Jim Weber as CEO, brings a wealth of experience and a deep understanding of Brooks’ ethos, having spent his entire career at the company.
Under Sheridan’s leadership, Brooks aims to build upon its legacy of success and drive continued growth, leveraging its science-based approach and innovative product offerings.
Product Innovation and Market Strategy:
Brooks delivers high-quality products tailored to runners’ needs, emphasizing a science-based approach and superior design.
Despite challenges such as supply chain disruptions, Brooks continues to innovate, recently introducing nitrogen-infused cushioning in its Glycerin 21 shoes to cater to runners’ evolving demands.
