How running brand hit its stride with Buffett boost

Brooks' Warren Buffett sneaker

From almost bankrupt to a leader in the specialty running shoe market—that's the story of Brooks.

Backed by Warren Buffett's Berkshire Hathaway, the Seattle-based company has a 29 percent share in the specialty running shoe market, INC. reported.

"Warren loves these sneakers. He loves them most when we sell a lot of them," Jim Weber, CEO of Brooks, told "Closing Bell" on Monday. "He's excited to have his image on the shoe."

A special edition of the Brooks Adrenaline GTS running shoe with a depiction of Warren Buffett, chairman of Berkshire Hathaway Inc., on its insole.
Daniel Acker | Bloomberg | Getty Images

How did it get from almost losing it all to a successful company? By taking risks and erratic moves.

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The company, which made sports shoes and apparel, was losing money, and in 2001—to heal financial troubles—the company decided to focus on one thing: running.

The risky move worked—in the last 13 years the company has grown 18 percent compound, and is expected to crack $500 million in revenue this year, INC. reported.

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Despite the company's successes, it still faces some challenges ahead. E-commerce is one of them.

Read full INC. story here.

This story has been updated to include comment from Brooks CEO.

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