How Nike Ran Into Trouble

Bloomberg Originals
Bloomberg Originals
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Published 2024-08-02
Nike is now worth $100 billion less than it was during the last Summer Olympic Games.The brand’s decision during the pandemic to cut ties with brick-and-mortar retailers in favor of its own stores and website played a part in its decline in value, but so did the rise of competitors like ON, Asics and Hoka. It’s one of the reasons that this year’s Paris Games are exceptionally important for the world’s largest sportswear retailer.

00:00 Introduction
1:07 Nike’s success
1:47 Cutting ties with wholesalers
3:24 Rivals take the stage
4:18 Sluggish innovation
5:32 Nike’s plan to save itself

#Nike #Business #News
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All Comments (21)
  • @dsdf_fdp1858
    The problem with Nike is them selling $5 shoes for $150.
  • @Dangic23
    Another big problem is that every time Nike releases a retro shoe, the quality of the shoe is completely different from the original. The build of the original is 90% better quality than the re-releases.
  • @nguyen_van_a
    Basically, any big shoe brand: "Please buy our $250 shoes so that $50 goes to Ronaldo and Messi, and 50 cents goes to the workers". I feel ashamed buying from them.
  • @phillipwong3754
    What the upper management didn't know, their customers need to try on the shoes. They were blinded by sneakerheads where a lot of the time, the shoes aren't being worn.
  • @ropro9817
    From a customer's perspective, the problem is that their product quality is in the toilet now. I used to love Nike running shoes and happily shelled out over $100 for a pair but these days, they barely last me a year before falling apart. 😒 Much like Boeing, feels like the bean counters are running the ship.
  • @sweeseen9577
    Nike is becoming the Boeing in shoe industry. Cutting cost, quality dropping and yet price up the product. Bye, going for Adidas.
  • @vashonm
    They got too greedy with cutting 3rd party sellers
  • @sidybidy
    When Jordans are sitting on shelves, you know Nike is in trouble.
  • @mattkop5755
    problem is if you do outdoors activities they break in a month
  • @Ilovecruise
    Nike’s product quality has gone down quite a lot since they moved out of china, the quality right now are more like 5 dollars product instead of something that are selling for 100-200 dollars. It’s simply overpriced and bad quality
  • @TheAvillamizarq
    Way to expensive.. the need to lower prices in a significant amount of
  • @sylvias2062
    Abuse in the industry is a topic the internet community should research .
  • @Novilicious
    Their toolboxes are just too narrow, and I personally like wider tow boxes, which some companies like ASICS and ON have
  • @noodlessurprise
    Nike like adidas have got greedy. The prices are ridiculous.
  • @nikhilsahay895
    It was such a joke to let in shelf space to Hoka and ON without much effort. Sure you want to focus on Online sales, but you can not just let your competition easy rides.