Top Shoe Companies Worldwide
Revenues from the global footwear industry are set to rise by 11.2%, to $104.1 billion, exceeding the $100 billion milestone for the first time. Analysts predict the sector will continue to grow in the coming years and hit $126.3 billion by 2027.
If you’d like to get your foot in the door of this booming industry, you need to first get to know the top shoe companies and what’s driving their success. Here’s a ranking of the biggest shoe companies sorted by their market capitalization.
Top shoe companies ranked by market value
According to the latest data, Nike is currently the biggest shoe company. As of December 2023, the popular sportswear brand is valued at $176.7 billion—more than double its valuation a decade ago.
Nike’s lead as the largest shoe company is a significant one. Its biggest rival, Adidas, is in second place with a market cap of $36.6 billion, which is around one-quarter of Nike’s. In 2022, Nike’s global revenue totaled $42.7 billion, nearly double the $22.5 billion generated by Adidas.
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A closer look at these top two shoe companies shows that while Nike’s market cap has fallen by 3.5% since the end of 2022, Adidas has increased its company value by 47.4% over the same period.
The third biggest shoe company is California-based Deckers Brands, which owns popular footwear brands like UGG and Teva. It is currently valued at $17.69 billion. Rounding out the five largest footwear companies are Sketchers and Germany’s PUMA, with market values of $9.13 billion and $9.12 billion, respectively.
Sixth on the list of the top shoe companies is another German brand, Birkenstock. Its market value is $8.85 billion. It is followed by On Holding. The Switzerland company is valued at $8.77 billion. Li Ning Company, a shoewear business from China, is in eighth, with a market capitalization of $7.42 billion.
VF Corporation ranks next in ninth place. Its market capitalization is $7.08 billion. The Colorado-headquartered company’s value has plummeted over the past few years, having lost more than $30 billion since its peak of $39.31 billion in 2019.
Japan’s ASICS Corporation, the second Asian-owned shoe company on the list, makes up the top 10 shoe companies, with a market cap of $6.33 billion. ASICS’s growth in recent years has been significant. Just three years ago, its market value was $3.51 billion.