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How Nike Shoes Got Lame
Sep 28, 2024
Kim Bhasin, a Bloomberg journalist, explores the decline of Nike's cool factor and the missteps in its direct-to-consumer strategy. He reveals how Nike lost ground to emerging brands like Hoka and On. Entrepreneur Jamie Salter shares insights on resurrecting 'zombie brands' like Izod and Brook's Brothers. The conversation also touches on how branding reshapes consumer perceptions and the struggles of nostalgic companies facing modern challenges. The podcast dives deep into the evolution of consumer behavior in today's sneaker culture.
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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