Nike's reliance on iconic basketball shoes challenges its competitiveness as newer brands gain market share.
Nike has relied heavily on its iconic basketball shoes to boost sales, but as the sportswear giant bleeds market share to newer brands, analysts and investors question if this reliance is a mistake. Classic shoes like the Nike Air Jordan and Dunk have been driving sales, while On and Deckers-owned Hoka have gained global shelf space. Nike may need to diversify its product strategy to remain competitive.
March 21, 2024
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