Nike news and archive

Unwrapping in 2025 - Leadership overhauls beckon fresh beginnings: The turnaround strategies of new CEOs

2024 seemed to take shape as a period of transition for many of the industry’s biggest players as they looked to swiftly, yet effectively, turn around lacklustre financials and return to growth, profitability or both. To lead such strategies, many took to overhauling their leadership teams, naming new CEOs in the process who have come in guns...

BusinessFeatured

A look into the turnaround plan of Nike’s new CEO

On December 19, Elliot Hill, the new chief executive officer of Nike, had his first opportunity to address investors and, with this, release the company’s earnings for the second quarter. Despite an 8 percent drop in revenue for the period, Hill remained upbeat in the meeting, in which he revealed stages of a new turnaround plan as part of...

Business

After negative Q2, Nike's new CEO hints at turnaround plan

Nike’s second quarter revenues were 12.4 billion dollars, down 8 percent on a reported basis and down 9 percent on a currency-neutral basis compared to the prior year. Gross margin for the quarter decreased 100 basis points to 43.6 percent, while net income was 1.2 billion dollars, down 26 percent, and diluted earnings per share were 78 cents, a...

Business

Nike and the NFL extend partnership to 2038

Sportswear giant Nike has renewed its ongoing partnership with the National Football League (NFL), extending the agreement's end year to 2038. The duo, the relationship of which already spans 12 years, will work together on a number of key initiatives designed to “elevate [the] partnership to new heights”. Nike is currently the exclusive...

Business

Dutch watchdog ACM assists Romanian competition authority with investigation into Nike, raids head offices

Dutch market watchdog Authority for Consumers & Markets is supporting the Romanian competition authority in an investigation into possible anti-competitive agreements in the world of sportswear. As part of the investigation, raids were carried out at the head offices in the Netherlands and Romania, according to a document from Consiliul Concuren...

FashionFeatured

According to Strava, Nike leads the race of sports trends in 2024

Running shoes have transcended their original purpose to become a true icon of contemporary fashion. The boundary between sport and streetwear has blurred, transforming these shoes into a symbol of cultural identity, but there are still those who use them for running. This is confirmed by the Year In Sport 2024 report from Strava, a platform...

Business

Nike Shuts Metaverse Fashion Company Rtfkt: Last Collection in January 2025

Nike is shutting down Rtfkt, its metaverse fashion company known for digital sneakers and NFTs. In January 2025, Rtfkt will release one final collection, Blade Drop . The company itself announced the news via X (formerly Twitter). Summary • Nike is shutting down its metaverse fashion subsidiary, Rtfkt, in January 2025 after a final collection...

Fashion|Beauty

Nike collaborates with make-up artist Isamaya Ffrench

Sportswear giant Nike has unveiled a collaboration with British make-up artist Isamaya Ffrench, which bridges “style and beauty”. Ffrench has created two exclusive colourways for Nike’s latest Air Max Dn, in a beige and chocolate brown, drawing inspiration from women athletes whose influence extends from the field of play to the fashion world....

FashionFeatured

8 Fashion books of 2024 to add to the wishlist

Need some inspiration for a festive season wish list or for your 2025 reading list? FashionUnited has compiled a selection of books published in 2024 that we believe would be perfect additions. Total Ethics Fashion: People, our fellow animals and the planet before profit Total Ethics Fashion is a manifesto for an ethical fashion system. “This...

People

Nike names Treasure Heinle as chief human resource officer

Nike has promoted Treasure Heinle, chief talent officer, as the company’s new executive vice president and chief human resources officer (CHRO). In her new role, the company said in a release, Heinle will be responsible for leading the global HR function and managing Nike’s People vision and strategy. She succeeds Monique Matheson who has...

Fashion

StockX: Performance shoes on the rise, Asics and Puma continue to dominate

Online marketplace StockX has published its latest quarterly trend round up highlighting the movers and shakers of the 2024 resale market, from the top collaborations of the period to the most in demand sneaker silhouettes. In a release, the company’s founder, COO and president, Greg Schwartz, said the ‘Big Facts: 2024 Trends’ report gave an...

Business

FC Barcelona signs new contract with Nike

FC Barcelona announced on Saturday that it had reached a new agreement with American equipment supplier Nike, a partnership that could reach 1.7 billion euros by 2038 according to the Spanish press. Nike has manufactured the Catalan club's jersey and other kits since 1998, and the previous agreement was due to expire in 2028. "Barcelona and...