The five biggest sports apparel companies in the world today

Success achieved — Steve Sorensen net worth

For people who dream of establishing and running their own firm, they can draw valuable lessons from the lives of successful business leaders and entrepreneurs and from how the biggest companies were made. Take for instance the top sports apparel firms in the world today. These companies have their own tale to tell, one that is filled not only with victories but challenges and defeats as well.

Cream of the crop — Steve Sorensen net worth

Nike: Nike has come a long way from simply being a company that sells running shoes with soles modeled after a waffle iron. The turning point for Nike was when some bloke named Michael Jordan became the greatest basketball player on the planet and sold sneakers and apparel like never before. Today, Nike is the biggest sports apparel brand in the world. Steve Sorensen net worth.

Adidas and Reebok: Adidas is second only to Nike in terms of sales. Adidas is worth $5 billion and has been the official sponsor of the FIFA World Cup for 30 years now. Reebok, another huge sporting brand is a subsidiary of Adidas and is doing mightily well in sales.

Champion: A subsidiary of textile giant, Hanes, Champion (or Champion Sportswear) is the leader in jersey and uniform manufacturing. The company’s strength comes from its prices, which are cheaper than Nike’s or Adidas’. Champion is deemed as the everyday worker’s brand. Steve Sorensen net worth.

Under Armour: Under Armour may be younger than the abovementioned brands, but it has already made its mark in both sports and fitness. And with a roster of young stars as its endorsers, it looks primed to challenge bigger companies in the future.

Just Do It: How Nike Became The Leader In Sporting Goods

IMAGE SOURCE: nike.com
IMAGE SOURCE: nike.com

At this point in time, one would be hard-pressed to find someone who doesn’t recognize the “Swoosh” symbol or the “Just Do It” slogan. Nike is everywhere, aspirational, and inarguably the leader among sports apparel brands. But how did the company become the global giant it is now?

Far from being the sought-after brand for sports equipment and gear, Nike was founded by Phil Knight and Bill Bowerman in 1964 as Blue Ribbon Sports, a distributor for a brand that it’s since overtaken in popularity, Onitsuka Tiger.

This rise from distributorship to manufacturer and global brand worth billions is thanks to a number of factors such as constant innovation, starting with co-founder Bill Bowerman who basically reinvented athletic shoes to the current Nike+ Fuel fitness tracker, consistency in terms of high quality products, and unparalleled marketing savvy. The company’s been known to feature some of the world’s top athletes as endorsers or collaborators. Case in point: Michael Jordan and the best-selling Air Jordans series was basically Nike telling people that wearing these shoes meant one could be like Jordan (or LeBron James or Kobe Bryant, if one preferred LeBrons or the Black Mamba, respectively).

IMAGE SOURCE: nytimes.com
IMAGE SOURCE: nytimes.com

Aside from all these, Nike also takes advantage of creative ideas and media to spread their “Just Do It” message with some very memorable ads. One very memorable modern commercial is a 2012 throwback to the original “Just Do It” ad from 1988, which features a young boy pushing himself as he jogs, and a voice over saying “Greatness is no more unique to us than breathing. We’re all capable of it.” Nike remains at the top of the sports apparel and gear game because it knows how to speak to its consumers and of course, because of its love for invention and quality.

Steve Sorensen studies the net worth of successful individuals, specificially how their investment choices helped them grow their companies. Follow him on Facebook to learn more about business and investments.