Brooks Running's newly appointed chief executive, Dan Sheridan, has expressed optimism about the potential growth of the business in China and Europe, two key markets outside the US that can generate revenue for the running shoe maker owned by Warren Buffett's Berkshire Hathaway.
Plans of Brooks Running to Expand in China
According to Reuters, in an interview during Berkshire Hathaway's annual shareholder weekend, Dan Sheridan unveiled Brooks Running's strategic plans to expand its presence in China, with the opening of its first store in Shanghai slated for this fall, potentially more stores later.
Sheridan noted that China "is a top-10 market for running participation," and the company's expansion was part of its "30- to 50-year strategy."
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Brooks Running CEO on Resurgence of European Markets
The revival of European markets is already starting after the Russia-Ukraine war but the rising energy costs still caused buyers to pull back, while retailers faced excess inventory and falling margins.
However, Dan Sheridan expressed confidence in the global growth potential for running activities. He projected a potential doubling of runners globally by 2031, with an estimated 300 million individuals engaging in running or walking as their primary fitness activity.
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