A multi-billion dollar industry that has gotten bigger over time is the sporting goods sector. The approximate value of the global sports market in 2019 was $471 billion, and by 2022, it is anticipated to reach $614 billion. It’s hardly surprising that some of the best sports businesses in the world have amassed enormous money given the size of the industry.
Which sports brand is the wealthiest, then? With a brand worth of $32.4 billion, Nike is currently the most valuable sports brand in the world, according to Forbes. For decades, Nike has dominated the sports sector and has held onto its position as the top sports brand worldwide. In 2020, the business generated $37.4 billion in revenue and $2.5 billion in profit.
Adidas, which has a brand worth of $16.7 billion, comes in second place to Nike. Since its founding in 1949, Adidas has been a key player in the sports sector. In 2020, the business generated $23.6 billion in revenue and $1.2 billion in profit.
Puma, Under Armour, and Reebok are three more well-known sports brands that made the Forbes list. Puma has a brand worth of $4 billion, while Under Armour’s is $3.9 billion, and Reebok’s is $1.5 billion.
Sportswear, sporting goods, and sports accessories all fall within the broad category of sporting goods. Sports stores offer a variety of sporting goods, including golf clubs, tennis racquets, basketballs, and footballs. They also sell athletic clothing like jerseys, shorts, and shoes.
The initial investment required to open a soccer shop might be between $10,000 and $50,000. Depending on the business’s size, location, and inventory, opening a soccer store will cost a different amount. Starting a camping store can be expensive, with the first investment averaging between $50,000 and $150,000. Inventory, licenses, rent, and marketing expenses are all included in this price.
With a brand worth of $32.4 billion, Nike is currently the most valuable sports brand in the world. The market for sporting products is enormous, and sports stores offer a variety of gear and clothing for many activities. Depending on the store’s size, location, and inventory, starting a soccer or camping supply shop can be very expensive.