The idea we can return Nike to glory or even growth just selling more to Wholesale has never been right. Sounds like an easy fix because it is too simple. On and Hoka didn't eat our lunch because of shelf space. Their products were innovative, comfortable and looked cool or different and our running products were not any of that - until at least the Vom18 which is a pretty good Hoka knock off. New Balance brought back retro running and got cooler and deeper in culture through athletes. Adi sparked a low pro trend as were overheating on chunky high pro Air Force, AJ1 and Dunks. They did sell those in wholesale. We now have lost all of the people who get all of this. If or when we ever get those types of people or a new visionary and our mojo back, Nike digital stores and wholesale will all grow. It's not complicated - innovative or cool/style right product and inspiring brand marketing and also being part of shaping culture have always been the answer. When that happens, our products sell everywhere. This is not a turnaround taking longer - what drives Nike's growth just isn't happening here any more - not now nor over the past 2 to 3 years. Even still, that's all easy to say, hard to do. Need visionaries who can also hire talent and inspire everyone. Layoffs are not the answer either.
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@ft Middle of an all hands call. An aid walks up and hands him a card, he breaks into tears. It's his pink slip
At this point close to 2y in EH is I would think skating on thin ice. Tbh, if he goes, I will miss his waterworks at all-team meetings.
“Win Now” sounds less like a billion dollar corporate strategy and more like something a 3rd grade coach writes on the whiteboard before a game. Somewhere, a consulting firm billed Nike millions to come up with two words that every kid already understands.
Nike used to lead trends. Now it feels like Nike is chasing them because it fell behind after years of bad product, uninspired colors, and questionable fashion decisions (lead by a mass wave of DEI initiatives).
And look at New Balance and Adidas. There’s nothing particularly flashy or revolutionary about what they’re doing, yet they’re eating Nike’s lunch because they’re executing better and giving consumers products they actually want.
Nike doesn’t need more discounts. It needs better product and a clear point of view. Lower the prices, stop training consumers to wait for sales, overhaul the board, and bring in a CEO who understands product, innovation, and the brand, not just sales.
Look at Apple. Steve Jobs was pushed out and replaced by a Pepsi executive focused on selling more product. Apple lost its way. When Jobs returned, he rebuilt the leadership team and focused on innovation, creating products people didn’t even know they wanted.
Henry Ford famously said, “If I had asked people what they wanted, they would have said faster horses.”
That’s the problem with Nike right now. Nike shouldn’t be asking what consumers want from Nike’s competitors. Nike should be creating what comes next.
Nike needs real leaders. Smart leaders. Forward thinking innovators who understand that the answer isn’t selling more of what isn’t working. The answer is creating something people can’t wait to buy.
Phil built a company that changed the world. Nike needs to find its next generation of leaders before that legacy gets lost.
@bf really? Give out treats for doing what you get paid to do seems pretty pathetic. Entitlement is where Nike went wrong. Now you drink the Koolaid.
@ak I am actually pleased to see those people came to office on Friday Lol Small progress there...
I would just throw each person a pair of Nike Mind and ask them go back to work. Jesus!
I passed by the DEInnovation cave yesterday, saw a group of people, I couldn't tell if they were doing yoga or practicing seppuku..
Clearances and then push selling new seasons over the last couple years has created a new glut of markdowns and is a bad look for the brand. not just made the turnaround slower. Today's challenges were created by this strategy - we're back to a new lower starting point
The irony is it wasn’t a real strategy. It was a set of tactics that were solid for 1 year at best. It’s been how many years now. Fire everyone in the C Suite and on the board.