During its most recent earnings update, Nike reported a bounce back from a mid-year slump.
The sportswear giant reported a 2% rise in revenue year on year to $12.9 billion for the three months to September 2023. This was driven by a 6% increase in revenues from its Nike Direct direct-to-consumer (DTC) platform.
For some time, Nike has been shifting sales away from wholesale channels to its own stores and e-commerce sites, gleaning data on consumers to enhance its marketing in the process.
“As we deliver on our strategy to elevate the marketplace through premium physical and digital retail experiences, we continue to see that consumers want to connect directly and personally with our brands,” Matt Friend, Nike’s evp and chief financial officer, told investors in August 2023.
With a new leadership team, it looks like team Nike will continue to double down on this strategy in a sportswear market projected to be worth $207 billion by the end of 2025.
Under Hameren’s marketing leadership, Nike has made some of the most iconic campaigns of the 21st century alongside agency of record Wieden+Kennedy. These include “Dream Crazy” with Colin Kaepernick, “You Can’t Stop Us,” and, more recently, a chaotic spot with London-founded label Corteiz to celebrate a collab with Nike’s Air Max 95.
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