Adidas grew revenue 14% on a currency-neutral basis in the first quarter of 2026, a pace CEO Bjørn Gulden called one of the best quarters in company history. The German brand carried a market value near $30 billion by June 2026, ranking third among publicly traded sportswear makers.
It still trails Nike, which held 27% of the global athletic footwear and apparel market in 2025 against Adidas at 13%. This post lists the main Adidas competitors, compares their size and product lines, and weighs where the stock stands for investors.
Adidas Competitors – TLDR;
- Nike is the largest of the Adidas competitors, with a market cap near $63 billion in 2026.
- Anta Sports, On Holding, and Amer Sports rank among the biggest publicly traded Adidas competitors by value.
- Adidas posted record 2025 revenue of about €24.8 billion, its second straight year of double-digit growth.
- Apparel sales rose 31% in the first quarter of 2026, the fastest-growing category for the brand.
- Adidas holds roughly 13% of the global athletic footwear and apparel market, second only to Nike.
Top Adidas Competitors 2026
The table lists 15 publicly traded Adidas competitors by market capitalization, and who owns the major sportswear brands runs from family founders to Chinese conglomerates. Skechers left the list after 3G Capital took it private in September 2025, so the ranking covers companies that still trade on public exchanges.
| Ticker | Company Name | Market Cap | Subsector | Key Product Line Areas |
|---|---|---|---|---|
| NKE | Nike, Inc. | $63B | Footwear & apparel | Running, basketball, Jordan, Converse |
| 2020.HK | Anta Sports | $30B | Footwear & apparel | Anta, FILA China, Amer Sports stake |
| ONON | On Holding AG | $26B | Performance footwear | CloudTec running shoes, apparel |
| AS | Amer Sports | $21B | Outdoor & equipment | Arc’teryx, Salomon, Wilson, Atomic |
| 7936.T | ASICS Corporation | $18B | Performance footwear | Running shoes, Onitsuka Tiger |
| DECK | Deckers Outdoor | $15B | Footwear | Hoka running, UGG, Teva |
| LULU | Lululemon Athletica | $14B | Athleisure apparel | Yoga, training apparel, footwear |
| BIRK | Birkenstock | $9B | Footwear | Sandals, comfort footwear |
| VFC | V.F. Corporation | $7B | Apparel & footwear | Vans, The North Face, Timberland |
| 2331.HK | Li Ning | $7B | Footwear & apparel | Chinese sportswear, running |
| CROX | Crocs, Inc. | $5B | Footwear | Clogs, sandals, HEYDUDE |
| PUM.DE | Puma SE | $4.4B | Footwear & apparel | Sport and lifestyle footwear, football |
| COLM | Columbia Sportswear | $3.3B | Outdoor apparel | Outerwear, Sorel, Mountain Hardwear |
| UA | Under Armour | $2.3B | Performance apparel | Training apparel, footwear, HOVR |
| 8022.T | Mizuno | $1.2B | Sports equipment | Running, baseball, golf, volleyball |
The size gap explains the search interest in publicly traded Adidas competitors. Nike, whose company profile tops the sector, is worth more than the next two rivals combined, while Puma, the closest German rival, trades at roughly a seventh of Adidas’s value. For a longer view of the company’s roots and ownership, see Adidas’s corporate background.
Adidas Competitive Advantage: What Makes Adidas Different From Its Competitors
Adidas runs on brand momentum in two areas its rivals struggle to match at the same time: lifestyle sneakers and football. Terrace styles such as the Samba, Gazelle, and Superstar drove double-digit footwear growth across several markets in early 2026.
Football is the second pillar. Adidas equips national teams and clubs heading into the 2026 World Cup, a stage Puma and Under Armour cannot reach at the same scale.
The brand also pushed performance running, anchored by the technology behind the first sub-two-hour marathon. Direct-to-consumer sales grew 22% in the first quarter of 2026, with e-commerce up 25%.
Adidas Future Market Share vs Competitors
Adidas sat at about 13% of the global athletic footwear and apparel market in 2025, behind Nike at 27% and ahead of every other brand. Broader sportswear market statistics show the same two-horse race at the top, and recent results suggest the gap is narrowing rather than widening.
Apparel revenue rose 31% in the first quarter of 2026, and Greater China grew 17% while Nike’s revenue slipped in the same region. Latin America and Japan and South Korea posted growth above 20%.
Adidas guided to high single-digit currency-neutral growth for the full year, near €2 billion in added revenue. The 2026 World Cup should add another tailwind, even as the rest of Nike’s rivals chase the same shoppers.
Is Adidas a Long-Term Buy?
The recent numbers are strong. Operating profit reached €705 million in the first quarter of 2026, up from €610 million a year earlier, and the operating margin cleared 10%. Adidas plans to return €1.5 billion to shareholders during 2026.
The risks are real too. Higher US tariffs and a stronger euro carry an estimated €400 million headwind, and lifestyle sneaker trends can cool quickly. Chinese rivals Anta and Li Ning hold home advantage in a key growth market. This is not investment advice; read the filings before deciding.
FAQs
Who are Adidas’s main competitors?
Nike, Puma, Under Armour, Lululemon, On Holding, Anta Sports, Asics, and Deckers (Hoka) are the main Adidas competitors. Nike is the largest by revenue and market value; Puma is the closest German rival.
What is Adidas’s market share versus competitors?
Adidas held about 13% of the global athletic footwear and apparel market in 2025, second to Nike’s 27%. That places it ahead of every other publicly traded rival in the sector.
Who is Adidas’s biggest competitor?
Nike. Its 2026 revenue near $46.5 billion roughly doubles Adidas’s, and its market cap of about $63 billion is more than twice as large as the German brand’s value.
Is Adidas bigger than Puma?
Yes. Adidas’s 2025 revenue of about €24.8 billion is nearly three times Puma’s €9.3 billion, and its market value of around $30 billion is roughly seven times larger than Puma’s.
How did Adidas perform in 2026?
Adidas grew revenue 14% currency-neutral in the first quarter of 2026. Operating profit rose to €705 million, the operating margin reached 10.7%, and gross margin held at 51.1%.
Citations
https://www.adidas-group.com/en/media/press-releases/adidas-records-strong-start-to-the-year-in-the-first-quarter-of-2026
https://companiesmarketcap.com/adidas/revenue/
https://www.statista.com/statistics/1660207/nike-adidas-under-armour-puma-global-revenue-comparison/
https://www.expertmarketresearch.com/blogs/top-sportswear-companies
