Adidas AG, pronounced in German, is a German athletic apparel and footwear corporation headquartered in Herzogenaurach, Bavaria, Germany. It is the largest sportswear manufacturer in Europe and the second largest in the world, after Nike. It is the holding company for the Adidas Group, which also owns an 8.33% stake in the football club Bayern München and Runtastic, an Austrian fitness technology company. Adidas’s revenue for 2018 was listed at €21.915 billion. The company was started by Adolf Dassler in his mother’s house. He was joined by his elder brother Rudolf in 1924 under the name Gebrüder Dassler Schuhfabrik (“Dassler Brothers Shoe Factory”). Dassler assisted in the development of spiked running shoes (spikes) for multiple athletic events.