Reading through this article on the downfall of Nike from Quartz:
and it has this graph below that showcased to me something that I never knew and assume most people don't know. That the Dassler brothers from Germany had a shoe company and it consisted of Puma and Adidas. This former oligopoly started to diminish when Nike came out decades later and within only 5 years Reebok had become the biggest shoe company in the world. As with all cycles things change and Nike came back and still leads today despite a recent announcement to cut 2% of their workforce and the failure to come out with a blockbuster product in the last couple of years. Puma at one point in time had 30% of the market and today is closer to 5% while no company has ever had more than 50% of the entire market which Adidas once owned in the early 1970's.