08/09/2026
Fascinating to see Nike plunging roughly 80% below its 2021 share price.
I remember years ago they severed their relationships with wholesalers, thinking they could simply go direct to consumers, mostly via an app - thus boosting margins.
Turns out that about 50% of the sales in the sneaker world are cash sales - so they were going to miss out on that.
But surely, they knew that??
Seems the data-driven performance marketing lasted for about 18 months, before the lack of distribution by trusted partners reared its head and saw the share price plummet.