Nike Reveals Russia's Share in Total Sales of Sneakers for the First Time
Previously, the company never disclosed results for Russia. The reporting data is only for the region, including Europe, the Middle East and Africa. In fiscal 2019, which ended May 31, Nike's total revenue, as indicated in its statements, amounted to $ 39.1 billion, of which $ 24.2 billion was provided by sales in the shoes category. That is, Russian revenue in this category is not more than $ 242 million. Representatives of Nike in Russia didn't comment on the information from the minutes of the meeting, suggesting the use of official reporting figures.
Vishnyakov’s shoe sales figures are slightly at odds with Euromonitor International. According to the results of 2018, experts estimated the entire Russian footwear market at $ 12 billion, Nike's share at 1.9%, which corresponds to $ 228 million.
The closest Nike competitor, the German Adidas Group, according to Euromonitor, occupies a 3.1% share in the Russian shoe market (respectively, sales - about $ 372 million). From this estimate it follows that more than half of Adidas Group's revenue in Russia and the CIS countries is accounted for by shoes. In its report for 2018, the group indicates its revenue in this region - € 595 million, or about $ 654 million. Both foreign manufacturers are inferior to the leader of the Russian shoe market - Kari Igor Yakovlev, which at the end of 2018 takes 5% ($ 600 million).