We've lost so many key people who could have driven the necessary changes. Sometimes it was to layoffs and sometimes because they got tired of this entire mess. So what we have left is the ELT that continues to prioritize short-term gains over finding a way to restart sustainable growth. There's no coming back from this.
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Hopefully the root cause of the problem will be addressed.
Toooo many silo'd functions with bloated org charts. Every seed of an idea at Nike has turned into a 30 person organization with their own moat and a VP.
Its gridlock.
When you have to battle through 20 shark tanks to get anything over the top, by the time it reaches market its homogenized with a side of milk toast, Blahhhand
@1dsf It’s cute you think there’s no material science or expertise needed to make apparel.
The company with the largest share of the apparel market has less than 10% of that pie.
The company with the largest share of the athletic footwear market has almost 50% of that market. That’s us BTW.
Anyone can throw a shirt together. You just need some cloth, thread, and semislave labor.
Athletic shoes has a huge startup costs & barriers. Material science, specialized factories & machinery, and of course the semislave labor.
While our leadership was out sabotaging our own business… If our competitors managed to stand up an end-to-end manufacturing chain for athletic shoes (that are decent, looking at your temu-brand cardboard Under Armor), we are NEVER getting that market share back.
Our market dominance depended on a moat which has now been crossed. Our own contracted factories will be able to use our competitors as leverage now. “Give us a better rate or 50% of our capacity goes to the highest bidder”.
This situation with Hoka is nothing like when Lulu Lemon made some cheap see through leggings. This is so much worse.
There is a reason the margin on shoes is so much better than the margin on shirts. And that reason is disappearing.
IBM? The company that stated it wanted to reduce their workforce by 30% due to AI innovation?
IBM is doing fine. Blockbuster was a collosal lack of vision in a market that had a huge technological shift. Same for Kodak and Blackberry for that matter. There isn't likely to ever be a huge technological shift in footwear, no matter what we tell ourselves about innovation. It's all just style and tiny incremental improvements. Until we have have hoverboots or something equally paradigm shifting, those fates are unlikely to happen to Nike. We're more likely to become Adidas
IBM, Blockbuster, BlackBerry, Kodak. Huge companies. #1 in their industry. No way they could ever be beaten.
Woke company. Good riddance.
50B company and number 1 in market share.. “beyond rescue” lol pls
And again, and again, and again and again…. Yup, sounds like Nike.
We been here in past. We will get over this again