The Complete Guide to Sports Brand Ownership in 2026

Nike, Converse, and Air Jordan are all owned by the same company. Adidas and Reebok were siblings until Adidas sold Reebok in 2021. Vans, Timberland, and The North Face share a parent in VF Corporation. Salomon and Arc'teryx are both owned by Amer Sports. The sports apparel and equipment industry is concentrated in the hands of approximately 10 companies, and the connections between your favourite brands may surprise you.

The Sports Industry Landscape: 2026 Overview

The global sports apparel and equipment market is dominated by a mix of American, European, and Chinese companies:

Nike: The Beaverton Giant

Nike (NYSE: NKE) reported fiscal 2026 (ended May 31, 2026) revenue of $46.4 billion, flat on a reported basis and down 2% on a currency-neutral basis. Nike is the world's largest sports brand by revenue, but fiscal 2026 was a challenging year.

Nike's brand portfolio:

• Nike Brand ($45.2B revenue): The core brand spanning footwear, apparel, and equipment across running, basketball, football, training, and lifestyle
• Jordan Brand ($7.0B revenue in FY2025, down 16%): Basketball-inspired lifestyle brand, built around Michael Jordan's legacy
• Converse ($1.2B revenue, down 31%): Casual footwear and apparel

The fiscal 2026 results show Nike's challenges. Converse revenue fell 31% to $1.2 billion, with declines across all territories. Jordan Brand revenue declined significantly. Nike Direct revenues were down 6%, with Nike Brand Digital decreasing 12%. Wholesale revenues grew 6%, suggesting a strategic shift back to retail partners after years of DTC focus.

Nike returned approximately $2.5 billion to shareholders in fiscal 2026 through dividends and share repurchases. The company is executing a "Sport Offense" strategy focused on innovative product, brand strength, and marketplace elevation.

CEO Elliott Hill, who returned to Nike in 2024 to lead a turnaround, emphasised "financial discipline in an increasingly challenging operating environment, where sell-through remains challenged." The company is managing its product portfolio and investing in marketplace elevation while adjusting operating costs.

For more on Nike's portfolio, see our analysis of what brands Nike owns.

Adidas: The German Challenger

Adidas (XETRA: ADS) reported record revenues of €24.8 billion in 2025, with the Adidas brand growing 13% currency-neutral for the second consecutive year. Operating profit increased 54% to €2.056 billion, with operating margin expanding 2.6 percentage points to 8.3%.

Adidas's brand portfolio is simpler than Nike's:

• Adidas (core brand): Performance and lifestyle footwear, apparel, and equipment
• Reebok (sold to Authentic Brands Group in 2021 for €2.1 billion): No longer part of Adidas

Adidas's 2025 growth was broad-based. Europe grew 10%, North America grew 10%, and Greater China grew 13% on a currency-neutral basis. Latin America grew 22%, Emerging Markets grew 17%, and Japan/South Korea grew 14%. Double-digit growth occurred in both Performance and Lifestyle categories.

For 2026, Adidas expects currency-neutral revenue growth at a high-single-digit rate, reflecting approximately €2 billion in absolute growth. Operating profit is expected to increase to approximately €2.3 billion, despite approximately €400 million in negative impact from US tariffs and unfavourable currency developments.

Adidas proposed a 40% dividend increase to €2.80 per share, with total cash returns of up to €1.5 billion including share buybacks.

The Adidas story is one of recovery. After the Yeezy partnership ended in 2022, Adidas faced a inventory crisis and significant financial losses. The company sold remaining Yeezy inventory in 2024 and returned to growth in 2025. The 2025 results do not include any Yeezy revenue, making the 13% brand growth even more impressive.

Amer Sports: The Premium Outdoor Powerhouse

Amer Sports (NYSE: AS) reported 2025 revenue of $6.566 billion, up 27% year over year. The company went public in February 2024 in an IPO that raised approximately $1.37 billion. Amer Sports is controlled by an investor group including Anta Sports, Tencent, and FountainVest Partners.

Amer Sports' brand portfolio:

• Arc'teryx: Premium outdoor apparel and equipment. The standout performer, driving much of Amer Sports' growth
• Salomon: Footwear, winter sports equipment, and outdoor gear. Surpassed $2 billion in sales in 2025
• Wilson: Tennis, basketball, baseball, and American football equipment. Carrie Ask was named the new Wilson President and CEO
• Peak Performance: Swedish premium ski and outdoor apparel
• Atomic: Ski equipment

CEO James Zheng commented: "Fourth quarter was a great finish to a breakout year for Amer Sports led by our flagship Arc'teryx brand and rising star Salomon, which surpassed the $2 billion sales mark."

For 2026, Amer Sports expects reported revenue growth of 16 to 18%, gross margin of approximately 59%, and operating margin of 13.1 to 13.3%. The company ended 2025 with 0.3x net leverage and over $700 million in operating cash flow.

Amer Sports' ownership structure connects it to the Chinese sports market. Anta Sports, the largest sportswear company in China, is the lead investor. This relationship gives Amer Sports brands significant distribution advantages in the Chinese market.

For more on outdoor brand ownership, see our outdoor brand ownership guide and our ski and winter sports brand ownership guide.

VF Corporation: The Portfolio Reset

VF Corporation (NYSE: VFC) reported fiscal 2026 (ended March 28, 2026) revenue of $9.6 billion, returning to full-year growth for the first time in three years.

VF's current brand portfolio (post-Dickies divestiture):

• The North Face: Premium outdoor apparel and equipment. Q4'26 revenue grew 12% (or 7% constant currency), with the Americas growing 17%
• Vans: Skate and lifestyle footwear. Q4'26 revenue declined 1% (or -5% constant currency), but showed a return to growth in Americas DTC for the first time in over four years
• Timberland: Outdoor and work footwear. Q4'26 revenue grew 8% (or 2% constant currency)

VF divested Dickies and Supreme (acquired in 2020 for $2.1 billion, sold in 2024) as part of a portfolio reset under CEO Bracken Darrell. The company is focused on reducing leverage and expanding margins.

Darrell stated: "For the first time in three years, we returned to a full year of growth and expect to keep growing in FY'27. We also significantly expanded margins and reduced our leverage ratio by a full turn vs. LY."

VF is targeting a 10% operating margin exit run rate by FY2028 and a leverage ratio of 2.5x or lower by FY2028. The North Face is the clear growth engine, while Vans is showing early signs of recovery after years of decline.

Puma: The Independent Challenger

Puma (XETRA: PUM) is headquartered in Herzogenaurach, Germany, the same town as Adidas. The two companies were founded by brothers Rudolf and Adi Dassler, who split their original shoe company in 1948. Puma remains independent and publicly traded.

Puma's portfolio:

• Puma (core brand): Performance and lifestyle footwear, apparel, and equipment
• Cobra Golf: Golf equipment (acquired in 2010)

Puma has positioned itself as the challenger brand, focusing on speed, sport, and culture. The company has invested in partnerships with football clubs, track and field athletes, and motorsport. Puma's revenue is approximately €9 billion, making it the third-largest Western sports brand.

Anta Sports: The Chinese Giant

Anta Sports Products Limited (HKEX: 2020) is the largest sportswear company in China and one of the largest in the world by market capitalisation. Anta's portfolio includes:

• Anta (mass market sportswear)
• Fila China (premium sportswear, Fila rights in China acquired in 2009)
• Descente (premium sports apparel, China rights)
• Kolon Sport (outdoor apparel, China rights)
• Amer Sports (controlling stake, giving Anta influence over Arc'teryx, Salomon, and Wilson globally)

Anta's strategy is to operate a multi-brand portfolio in China while leveraging Amer Sports for global expansion. The company has grown rapidly, driven by China's booming sportswear market and the success of Fila China as a premium lifestyle brand.

The Independents: New Balance, Asics, and Lululemon

Several sports brands remain independent:

New Balance is privately owned by the Davis family, who have controlled the company since 1972. New Balance is one of the few major athletic shoe companies that still manufactures in the United States and the UK. The company generates over $6 billion in annual revenue and has grown significantly through its focus on quality, fit, and domestic manufacturing.

Asics (TYO: 7936) is a Japanese publicly traded company. The brand is known for running shoes and has grown through its Onitsuka Tiger lifestyle division. Asics remains independent and focused on performance running.

Lululemon (NASDAQ: LULU) is independent and publicly traded. Founded in 1998 in Vancouver, Lululemon pioneered the athleisure category. The company has a single brand and no acquisitions, growing organically through product innovation and community building.

What This Means for Consumers

Sports brand ownership affects what you wear and how much you pay:

• Shared technology: Brands under the same parent may share proprietary technologies. Nike's Air technology appears across Nike and Jordan brands. Amer Sports shares waterproofing and insulation technologies across Arc'teryx, Salomon, and Peak Performance.
• Pricing tiers: Parent companies create pricing tiers within their portfolios. Nike positions Jordan above Nike, and Converse below. Amer Sports positions Arc'teryx as ultra-premium, Salomon as premium, and Wilson as mid-range.
• Retail strategy: Parent companies determine whether brands share retail space. VF Corporation has experimented with multi-brand stores featuring The North Face, Vans, and Timberland together.
• Sustainability claims: When a parent company sets sustainability targets, all its brands are affected. Nike's "Move to Zero" initiative applies to Converse and Jordan as well.
• The China factor: Anta's ownership of Amer Sports gives Chinese investors influence over Western premium brands. This ownership structure may affect how these brands operate in China and globally.

For more on sports brand ownership, see our analysis of 15 sports brands and who owns them, our outdoor brand ownership guide, and our cycling brand ownership guide.

FAQ

Who owns Nike?

Nike, Inc. (NYSE: NKE) is a publicly traded company headquartered in Beaverton, Oregon. It is not owned by another company. Nike owns the Nike brand, Jordan Brand, and Converse. Phil Knight, Nike's co-founder, remains the largest individual shareholder through his holding company Swoosh LLC.

Are Adidas and Puma the same company?

No. Adidas and Puma are separate, independent, publicly traded companies. However, they were founded by brothers Adi and Rudolf Dassler, who split their original shoe company (Dassler Brothers Shoe Factory) in 1948. Adidas is traded on the XETRA exchange (ADS). Puma is also traded on the XETRA exchange (PUM). Both are headquartered in Herzogenaurach, Germany.

Who owns Arc'teryx?

Arc'teryx is owned by Amer Sports (NYSE: AS), which is controlled by an investor group including Anta Sports, Tencent, and FountainVest Partners. Amer Sports also owns Salomon, Wilson, Peak Performance, and Atomic. Amer Sports went public in February 2024 but remains controlled by the Chinese investor group.

Who owns Reebok now?

Reebok was sold by Adidas to Authentic Brands Group in 2021 for approximately €2.1 billion. Authentic Brands Group is a brand management company that licenses the Reebok brand to various manufacturers and retailers. Reebok is no longer owned by Adidas.

Conclusion

The sports brand industry is concentrated among 10 major companies. Nike remains the largest but is facing challenges, with flat revenue and declining Converse and Jordan sales. Adidas recovered to record revenue in 2025 after the Yeezy crisis. Amer Sports is the premium outdoor powerhouse, with Arc'teryx and Salomon driving 27% revenue growth. VF Corporation reset its portfolio around The North Face, Vans, and Timberland. Anta Sports leverages its Amer Sports stake for global influence. When you buy sports apparel, the brand name on the product tells you one story. The corporate structure behind it tells another.

Want to learn more? Explore our complete guide to conglomerate brand portfolios, browse our sports brands, or read our outdoor brand ownership guide.

Explore Related Brands

• Nike - World's largest sports brand
• Adidas - German challenger, record revenue in 2025
• Puma - Independent German sports brand
• Converse - Casual footwear, owned by Nike
• Air Jordan - Basketball lifestyle, owned by Nike
• Vans - Skate lifestyle, owned by VF Corporation
• Timberland - Outdoor footwear, owned by VF Corporation
• Salomon - Winter sports and outdoor, owned by Amer Sports
• Arc'teryx - Premium outdoor, owned by Amer Sports
• New Balance - Private, family-owned
• Reebok - Owned by Authentic Brands Group

Browse all sports brands →

Sources

1. Nike, Inc. "Reports Fiscal 2026 Fourth Quarter and Full Year Results." June 2026. about.nike.com 2. Adidas Group. "Reports record revenues for 2025." March 2026. adidas-group.com 3. Amer Sports. "Reports Fourth Quarter and Fiscal Year 2025 Financial Results." 2026. investors.amersports.com 4. VF Corporation. "Returns to Revenue Growth for the Full Year in FY'26." May 20, 2026. SEC Filing

All brand ownership data verified through WhoBrands.com's proprietary research methodology. Last updated: May 13, 2026.