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The Modern Retail Podcast
Rundown: Nike shakeups, Rent the Runway restructuring & DTC fire sales
Jan 13, 2024
Nike's COO Andy Campion and golf star Tiger Woods are the guests this week. They discuss the surprising departure of Campion and the end of Nike's partnership with Woods. Rent the Runway is also restructuring, with its COO leaving and layoffs. DTC exits are expected to increase in 2024. The podcast covers Nike's unexpected cuts and future plans, apparel brands seeking exit strategies, challenges and options for DTC brands at the revenue wall, and a preview of NRF and a panel on live shopping.
27:57
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Quick takeaways
- Nike experiences shakeups with the departure of COO Andy Campion and the end of their partnership with Tiger Woods, reflecting challenges and uncertainties within the company.
- Rent the Runway undergoes restructuring, including layoffs and the stepping down of their COO, highlighting the struggles faced by the company in terms of decreasing revenues and a decline in active users.
Deep dives
Nike Shakeups: Departure of COO & End of Partnership with Tiger Woods
Nike has recently experienced significant shakeups, including the departure of their Chief Operating Officer (COO) and the end of their longstanding partnership with Tiger Woods. The departure of the COO, Andy Campion, who was considered a potential successor to the CEO position, indicates challenges and uncertainties within the company. Additionally, Nike plans to cut $2 billion in the next three years, suggesting a need for cost-saving measures and a reevaluation of their future plans.
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Discover
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