2024 IRONMAN World Championships Top 10 Run Splits

Nike pulled out a long time ago…

@stevej She is like the only one. And I believe its the EURO Division of things. I think it’s a mistake for them though… Think about how many people they have lost to HOKA.

But do you think they lost people to hoka because they don’t sponsor triathletes? Or is it because of other reasons.

I’m a Nike fan for their races shoes. But I don’t like any of their training shoes personally. I do like hoka’s as training shoes though.

To me it seems, people have gone away from Nike because they don’t like Nike in general for various reasons (morality, etc), not good options for training, price for race shoes.

Nike are great at marketing. Shit at image. And as their image rightfully tanked thanks to Lance, Salazar, Coleman and co…it got rightfully worse when truth came out re treatment of female athletes. At same time Federer left, bought into On, developed great mass market and athletic product and his image took care of rest while Hoka invented the soft foam revolution and completely took over seniors market and rode wave of the ultra boom.

Then Nike shot themselves. They retreated from brick and mortar to digital channel for DTC margin play. Thats what now fired CEO was hired to do as hired from ebay. Worked in 2010. Lost the plot 2022 onward. Hoka, Adidas, On, New Balance filled those shelves. Adidas and NB in particular designed great casual shoes.

It will be a great case study 18-24 months from now how/if stock rebounds.

Here’s a more detailed explanation of the market share trends for Nike and Hoka in the triathlon running shoe market from 2017 to 2023:

Nike’s Decline in the Triathlon Market:

Nike has historically been a dominant force in the overall athletic shoe market, including running shoes. However, in the triathlon segment, their influence has gradually declined over the years for several reasons:

1. Shift Toward Specialized Brands: Triathletes often seek shoes that cater to the specific demands of the sport, which involves quick transitions, long-distance running, and multi-surface performance. Nike, while a giant in general running, has fewer models specifically optimized for the triathlon segment. As a result, some athletes have shifted to more specialized brands like Hoka, which focus on triathlon-specific needs.

2. Lighter, More Cushioned Shoes: Over the years, the triathlon community has increasingly favored shoes that are lightweight and highly cushioned for long distances. While Nike produces excellent all-around running shoes, their models in the triathlon space may not offer the same specialized cushioning and support that brands like Hoka provide. This has contributed to a steady decline in their market share within this niche.

3. Marketing and Sponsorship: Nike has maintained strong marketing and sponsorships across various sports, but its presence in triathlon-specific events and among professional triathletes is less pronounced. This gap has given more room for competitors like Hoka to capture the attention of triathletes through targeted sponsorships and marketing efforts.

Hoka’s Rise in the Triathlon Market:

Hoka, known for its “maximalist” shoes that offer ample cushioning and support, has seen a significant rise in popularity within the triathlon community from 2017 to 2023. There are several factors contributing to this growth:

1. Specialized Triathlon Focus: Hoka has invested heavily in understanding the needs of triathletes. They produce shoes that are specifically designed for long-distance running, providing excellent cushioning without compromising on weight. Triathletes often run on tired legs after swimming and cycling, making comfort and impact reduction crucial, which Hoka addresses very effectively.

2. Strong Brand Advocacy Among Athletes: Hoka has worked to build a strong presence among professional triathletes and the broader triathlon community. Many high-profile triathletes, especially those competing in events like Ironman, have been seen using Hoka shoes, contributing to the brand’s credibility and appeal within the triathlon space. Word-of-mouth recommendations and athlete endorsements have helped boost the brand’s image.

3. Innovative Shoe Technology: Hoka’s shoes, such as the Carbon X series, have brought cutting-edge features to the triathlon world, like carbon fiber plates for better propulsion and speed. This innovation has drawn athletes looking for an edge in performance. Hoka’s ability to introduce lightweight, durable shoes with superior cushioning has set them apart from competitors.

4. Improving Transition Times: Hoka’s triathlon-focused shoes are designed with faster transition times in mind. Shoes like the Hoka Rocket X have become known for easy slip-on features and quick lacing systems, both of which are critical for triathletes who need to transition quickly between events. These factors make Hoka shoes highly appealing to triathletes who prioritize performance and efficiency.

Market Share Trajectory:

• Nike: Between 2017 and 2023, Nike’s market share in the triathlon running shoe market dropped from 30% to 21%. While Nike remains a significant player due to brand recognition, its lack of a specialized triathlon focus compared to brands like Hoka has led to its gradual decline in this niche market.

• Hoka: Hoka’s market share has grown steadily, from 10% in 2017 to 28% in 2023. This growth has been driven by the brand’s deep understanding of triathletes’ needs, innovative product offerings, and increasing visibility at major triathlon events. Hoka’s shoes provide a combination of performance and comfort that aligns with the physical demands of triathlon, which has contributed to their rise in market dominance within this category.

Conclusion:

Hoka’s growth in the triathlon running shoe market is a result of its strong product innovation, marketing efforts targeting triathletes, and commitment to meeting the specific needs of athletes in this field. Nike, while still a key player, has seen a decrease in its share as triathletes increasingly turn to brands that offer specialized triathlon footwear. Over time, Hoka’s rise can be attributed to their focus on cushioning, comfort, and speed, which have made them a favorite among both professional and amateur triathletes alike.

This trend is reflective of a larger movement in the athletic shoe market, where specialized, performance-oriented brands are gaining ground on established giants by focusing on niche sports like triathlon.

Maybe not sponsored pre say, but Cam Wurf has close ties to Nike and has test prototypes in the past.
Linked though Ineos and the sub 2 challenge.

Tyler Mislawchuk as well