Nike's Struggle: From Market Dominance to Stumbling Block

• Nike's market value has significantly dropped over the past few years, losing over a hundred billion since the last Summer Olympic Games.
• The company's shift towards online operations and cutting ties with retailers seemed successful during the pandemic, but post-lockdown, the lack of physical presence in stores has hurt the brand.
• The absence of fresh offerings and over-reliance on existing styles like the Air Force Ones and dunks has also been a setback.
• Nike's missteps have allowed rivals to gain market share, with innovative styles filling the shelf space Nike left behind.
• Despite the challenges, Nike is planning a comeback, focusing on rebuilding relationships with retailers and introducing new products.

Source: Bloomberg