Nike once told us, “Believe in something, even if it means sacrificing everything.”
Well, apparently they meant it.
Because the company that once dominated athletic culture has watched roughly $230 billion in market value disappear from its peak. Its stock is near a 12-year low. Hoka and On are taking market share. Nike is trying to rebuild relationships with retailers it walked away from. And after roughly 18 years, the company is being removed from the S&P 100.
So what happened?
Companies this big do not lose their footing overnight. This took years.
And in my opinion, Nike got so busy trying to tell everybody what it stood for culturally that it stopped paying enough attention to it's customers.
Let’s make it make sense.
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