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BLOOMBERG EXAMINES SNEAKER INDUSTRY: CAN ANYONE CATCH NIKE?
Published September 23, 1997
The athletic shoe industry was examined by Charlie Pellett of "Bloomberg Business News." Pellett reported that with "over" 43% of the U.S. sneaker market, "at this time it is unlikely that any one company will gain enough momentum to catch Nike." Shelby Cullom Davis' Peter Russ: "They have a lead that seems sustainable. They continue to redefine what the market is, and how their product should be viewed by the consumer. And as long they continue to redefine it in ways that their competition haven't done, they can maintain their lead." Pellett: "It's possible adidas is the only sneaker maker running with the ball ... Some analysts feel adidas is now poised to grow in the all-important American market." As teenagers "seem less interested" in white sneakers, Pellett added that producers of brown shoes, such as Wolverine World Wide and Timberland "may score a touchdown in the last quarter of '97. ... If these and other adverse trends continue, it's unlikely even a slam dunk from Michael Jordan will save the industry" ("BBN," PBS, 9/22).