Top Shoe Companies in 2024 [Mar 2024 Update] | Oberlo (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.

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Top shoe companies: highlights

• Nike is the biggest shoe company in the world in terms of market capitalization, with a value of $153.14 billion as of March 2024.
• Nike’s lead over second-place Adidas is significant, with more than $100 billion separating the two.
• Four out of the 10 biggest shoe companies are based in the United States.

Top shoe companies ranked by market value

1. Nike: $153.14 billion
2. Adidas: $37.41 billion
3. Deckers Brands: $23.14 billion
4. On Holding: $10.69 billion
5. Skechers: $9.23 billion
6. Birkenstock: $8.9 billion
7. ASICS Corporation: $7.9 billion
8. Crocs: $7.66 billion
9. Li Ning Company: $7.3 billion
10. PUMA: $6.94 billion

1. Nike: $153.14 billion

• Country: US
• Change in company value since end of 2023: -7.31%

According to the latest data, Nike is currently the biggest shoe company. As of March 2024, the popular sportswear brand is valued at $153.14 billion—nearly double its valuation a decade ago in 2014, which recorded at $83.07 billion.

In 2022, Nike’s global revenue totaled $42.7 billion, nearly double the $22.5 billion generated by second-placed Adidas.

2. Adidas: $37.41 billion

• Country: Germany
• Change in company value since end of 2023: +3%

Nike’s biggest rival, Adidas, is in second place with a market cap of $37.41 billion, which is around one-quarter of Nike’s.

A closer look at these top two shoe companies shows that while Nike’s market cap has fallen by 7.31% since the end of 2023, Adidas has increased its company value by 3% over the same period.

3. Deckers Brands: $23.14 billion

• Country: US
• Change in company value since end of 2023: +34.56%

The third biggest shoe company is California-based Deckers Brands, which owns popular footwear brands like UGG and Teva. It is currently valued at $23.14 billion, marking a 34.56% increase from the end of 2023.

4. On Holding: $10.69 billion

• Country: Switzerland
• Change in company value since end of 2023: +24.66%

Deckers Brands is followed by On Holding. Despite the Swiss company’s young age, it has grown since its founding in 2010 and is currently valued at $10.69 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 risen by 24.66%.

5. Skechers: $9.23 billion

• Country: US
• Change in company value since end of 2023: -3.78%

Rounding out the five largest footwear companies is US-based firm Skechers, with a market value of $9.23 billion. Headquartered in California, the company is renowned for its comfortable and athletic-style footwear.

6. Birkenstock: $8.9 billion

• Country: Germany
• Change in company value since end of 2023: -2.67%

Sixth on the list of the top shoe companies is another German brand, Birkenstock. As of March 2024, its market value is $8.9 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 fallen by a marginal 2.67% since.

7. ASICS Corporation: $7.9 billion

• Country: Japan
• Change in company value since end of 2023: +37.61%

Japan’s ASICS Corporation is the first Asian-owned shoe company on the list of the top 10 shoe companies, with a market cap of $7.9 billion. ASICS’s growth in recent years has been significant. Just four years ago, its market value was $3.51 billion—less than half of its current worth.

8. Crocs: $7.66 billion

• Country: US
• Change in company value since end of 2023: +35.49%

Colorado-based Crocs, known for its unconventional and polarizing shoe styles, is the eighth-biggest shoe company. As of March 2024, its market capitalization is $7.66 billion.

9. Li Ning Company: $7.3 billion

• Country: China
• Change in company value since end of 2023: +5.55%

Li Ning Company, a shoewear business from China, is in ninth place, with a market capitalization of $7.3 billion. Among the athletes the brand sponsors are NBA stars Dwyane Wade and Jimmy Butler.

10. PUMA: $6.94 billion

• Country: Germany
• Change in company value since end of 2023: -16.83%

Completing the list of the top shoe companies worldwide is Germany’s PUMA, whose present value is $6.94 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.

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