sports apparel, has taken the same tack in app-purchasing: in 2013 it acquired MapMyFitness, then this year purchased two more fitness-tracking apps, Endomondo and MyFitnessPal.īeyond just its peers in the sports apparel industry, Adidas is dipping its toes into the larger market for fitness tech, which continues to grow. athletic footwear market to Adidas’s 8.7%, though that includes all sports, not just running.) Under Armour, too, which is now No. It is an especially crucial move as Adidas looks to claw back market share in the U.S. Thus, buying Runtastic is a smart play by Adidas to try and break into an area that Nike has been leading. (It has since shifted focus away from the hardware, but still has its Nike+ app featured on the Apple Watch.) It launched Nike+ years back with Apple and the iPod, then was one of the first fitness-trackers to market with FuelBand in 2012.
What Hainer doesn’t say there is what industry watchdogs know: Nike has long dominated running footwear, and the Swoosh has also seen big success with its running-related tech offerings. “This investment will add considerable value on our journey to deliver new world-class sports experiences.”
“Digital technologies are providing new capabilities and insights to help athletes of all levels take control of their sporting destiny,” said Adidas Group CEO Herbert Hainer in a statement. Adidas bought out Axel Springer’s shares and will be sole owner of the app-maker.
In a press release announcing the deal, Adidas boasts that Runtastic, “is already one of the most diverse global players in the health and fitness app market, operating a multi-app strategy with over 20 apps covering a wide variety of endurance, health and fitness activities… With high user satisfaction, an impressive pipeline of innovative concepts and relentless speed to market, momentum is expected to remain robust in the coming years.” The company was private and majority-owned by German media company Axel Springer (owner of Germany’s largest tabloid, Bild).
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