Top Shoe Companies Worldwide (2024)
Revenues from the global footwear industry are set to rise by 3.6%, to $412.9 billion, exceeding the $400 billion milestone for the first time. Analysts anticipate continued growth in the sector, with forecasts predicting a rise to $472.6 billion by 2028.
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. Below is a ranking of the largest shoe companies based on their market capitalization.
Top shoe companies: highlights
- Nike is the biggest shoe company in the world in terms of market capitalization, with a value of $124.92 billion as of September 2024.
- Nike’s lead over second-place Adidas is significant, with nearly $80 billion separating the two.
- Half of the 10 biggest shoe companies are based in the United States.
Top shoe companies ranked by market value
|
Biggest shoe companies |
Market value (as of September 2024) |
|
Nike |
$124.92 billion |
|
Adidas |
$45.31 billion |
|
Deckers Brands |
$24.37 billion |
|
On Holding |
$15.03 billion |
|
ASICS Corporation |
$14.14 billion |
|
Skechers |
$10.43 billion |
|
Birkenstock |
$9.37 billion |
|
Crocs |
$8.68 billion |
|
VF Corporation |
$7.08 billion |
|
PUMA |
$6.60 billion |
1. Nike ($124.92 billion)
- Country: US
- Change in company value since end of 2023: -24.39%
According to the latest data, Nike is currently the biggest shoe company. As of September 2024, the popular sportswear brand is valued at $124.92 billion—more than 1.5 times its valuation a decade ago in 2014, which was recorded at $83.07 billion.
In 2023, Nike’s global revenue totaled $47.78 billion, more than double the $21.43 billion generated by second-placed Adidas.
2. Adidas ($45.31 billion)
- Country: Germany
- Change in company value since end of 2023: +24.75%
Nike’s biggest rival, Adidas, is in second place with a market cap of $45.31 billion, which is around one-third of Nike’s.
A closer look at these top two shoe companies shows that while Nike’s market cap has fallen by 24.39% since the end of 2023, Adidas has increased its company value by nearly the same percentage over the same period.
3. Deckers Brands ($24.37 billion)
- Country: US
- Change in company value since end of 2023: +41.73%
The third-biggest shoe company is California-based Deckers Brands, which owns popular footwear brands like UGG and Teva. It is currently valued at $24.37 billion, marking a 41.73% increase from the end of 2023.
4. On Holding ($15.03 billion)
- Country: Switzerland
- Change in company value since end of 2023: +75.28%
Deckers Brands is followed by Zurich-headquartered On Holding. Despite the Swiss company’s young age, it has grown since its founding in 2010 and is currently valued at $15.03 billion.
On Holding went public in 2021. Its value tumbled by more than 50% in 2022, to close the year out at $5.42 billion, before rising by another 58.21% in 2023, to $8.57 billion. Since the end of 2023, the company’s value has surged by 75.28%.
5. ASICS Corporation ($14.14 billion)
- Country: Japan
- Change in company value since end of 2023: +146.35%
Rounding out the five largest footwear companies is Japan’s ASICS Corporation, the first Asian-owned shoe company on the list of the top 10 shoe companies, with a market cap of $14.14 billion. ASICS’s growth in recent years has been significant. Just four years ago, its market value was $3.51 billion—one-third of its current worth.
It’s worth noting that ASICS Corporation’s market value has more than doubled since the end of 2023, when the company’s market cap was $5.74 billion.
6. Skechers ($10.43 billion)
- Country: US
- Change in company value since end of 2023: +8.68%
Sixth on the list of the top shoe companies is US-based firm Skechers, with a market value of $10.43 billion. Headquartered in California, the company is renowned for its comfortable and athletic-style footwear.
These six popular shoe brands mentioned so far are the only ones with a market value of more than $10 billion.
7. Birkenstock ($9.37 billion)
- Country: Germany
- Change in company value since end of 2023: +2.4%
Seventh on this list is another German brand, Birkenstock. As of September 2024, its market value is $9.37 billion.
Birkenstock’s roots can be traced all the way back to 1774, when it was founded in Hammersbach, Germany. The oldest shoe company on this list, it went public only as recently as October 2023. At the end of the year, it was valued at $9.15 billion and has risen by 2.4% since.
8. Crocs ($8.68 billion)
- Country: US
- Change in company value since end of 2023: +53.43%
Colorado-based Crocs, known for its unconventional and polarizing shoe styles, is the eighth-biggest shoe company. As of September 2024, its market capitalization is $8.68 billion, after having surged by 53.43% from the end of 2023.
9. VF Corporation ($7.08 billion)
- Country: US
- Change in company value since end of 2023: -3.15%
Colorado-headquartered VF Corporation is in ninth place. Its present value is $7.08 billion, a 3.15% dip from the end of 2023.
The company, which includes popular brands like North Face, Vans, and Timberlands in its portfolio, has seen its value fall year on year since 2020. In 2022, it recorded its biggest annual decline in capitalization, when its value plunged by 62.7%. According to experts, this can be attributed to ineffective management and a costly acquisitions strategy, which led to an accumulation of debt.
10. PUMA ($6.6 billion)
- Country: Germany
- Change in company value since end of 2023: -20.96%
Completing the list of the top shoe companies worldwide is Germany’s PUMA. Its present value is $6.6 billion. After successive years of growth from 2015 to 2021, which brought its market cap from $3.25 billion to $18.23 billion, the company has experienced a fall in its worth.
It closed 2022 out with a value of $9.05 billion, after a 50.35% fall, before declining another 7.67% in 2023, to dip to $8.35 billion. Since then, it has dipped by another 20.96%.