adidas AG ( ADDYY - Free Report ) and lululemon athletica inc. ( LULU - Free Report ) are the key companies competing with NIKE in the global market. adidas continues to strengthen its global presence through innovation, digital expansion and strategic brand positioning. Following a period of restructuring and supply chain challenges, the company is refocusing on its core performance categories — running, football and lifestyle — with renewed emphasis on high-margin products and regional growth opportunities. adidas' "Own the Game" strategy aims to drive sustainable growth by enhancing direct-to-consumer sales and expanding digital engagement. The company is working to rebuild momentum, especially in North America and China, through sharper product innovation and a more disciplined go-to-market approach. lululemon has evolved from a niche yoga apparel company into a global premium performance lifestyle brand.