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How Nike Shoes Got Lame
Sep 28, 2024
Bloomberg reporter Kim Bhasin joins the hosts to dissect the decline of Nike, exploring how leadership changes and a direct-to-consumer shift have hurt the brand's cool factor. They dive into the evolving sneaker culture and competition that leave Nike struggling to retain its appeal. Bhasin also sheds light on Jamie Salter's success in revitalizing 'zombie brands.' Additionally, the group discusses Visa's monopolistic practices and what the DOJ's lawsuit could mean for consumers. The mix of nostalgia and current market trends makes for an engaging conversation!
01:04:01
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Quick takeaways
- Nike's decline is linked to the loss of retail partnerships, which diminished market reach and allowed competitors to thrive.
- Consumer preferences are shifting away from Nike towards emerging brands like Hoka and On, indicating a decline in brand loyalty.
Deep dives
John Donahoe's Departure from Nike
The discussion centers around the significant leadership changes at Nike following John Donahoe's departure as CEO. The podcast highlights how Donahoe's tenure saw initial growth, spearheaded by a focus on lifestyle-oriented footwear such as retro models including Dunks and Air Force Ones. However, as these once-coveted models became ubiquitous, they lost their appeal, leading to declining sales for the brand. Critics argue that Donahoe's strategic shift away from retail partnerships with key distributors limited Nike’s market reach, ultimately contributing to his ousting.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode