Brooks Running has a lot to celebrate: Not only is the Berkshire Hathaway-owned company turning 100, it just hit a major business goal ahead of schedule, reporting half a billion dollars in global revenue on a rolling 12-month basis as of April 2014. “It’s extremely exciting to reach a business milestone of this magnitude,” says Jim Weber, CEO, Brooks Running Company. “We knew a commitment to putting the runner first and creating both fantastic product and a memorable experience for them was a big idea–a billion dollar idea. We are here because the brand is resonating with runners, and we have incredible retail partners who are out there with us inspiring runners day in, day out.”
In 2001, Brooks rebooted its strategy to focus on delivering best-in-class gear for runners, creating unique experiences at events to reach them, and partnering with the best specialty running account (SRA) stores in the world. This commitment has fueled 12 sequential years of 18 percent compound annual revenue growth. In addition, Leisure Trends reports Brooks continues to grow its No. 1 market share position at SRAs nationwide with 31 percent year-to-date running footwear retail dollar share, up 1.5 percent since the end of 2013.
“Brooks is doing what it should every day to provide a great product for people who are out there running, doing what they love, being healthy,” says Warren Buffet, chairman and CEO, Berkshire Hathaway Inc. “Brooks has nothing ahead but opportunity, as running will always be part of people’s lives. The demand will not disappear and because of that, there is really no limit to Brooks’ growth.”