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https://docs.google.com/presentation/d/1FdAGavNyAzjQti2qtXpgZhDLNcFH6ydr_kycF0dt5XU/edit?usp=sharing

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https://docs.google.com/presentation/d/1wAjVLOf-M9SwKGXgjDvYNbcXuFZAWS71g4lwB7A2z8A/edit?usp=sharing

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Those that have a vested interest in a company and can either affect or be affected by a business' operations and performance.

Examples: investors, employees, customers, suppliers, communities, governments, or trade associations

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They are a top priority as a stakeholder group as they affect revenue

- They have low power and low control

- They have high interest in price, safety, quality and services

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Business Profile – provide details about company’s:

1. Business Background

2. Key Business, Key Products/Service

3. Business SWOT Analysis

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Complete the Business Model Canvas. Elaborate on each Business Model Canvas Elements, namely:

(User Journey Map)
1. Value Propositions
2. Key Partnerships
3. Key Activities
4. Key Resources
5. Customer Relationships
6. Channels
7. Customer Segments
8. Cost Structure
9. Revenue Streams

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Complete the Lean UX Canvas. Elaborate on key items, namely:

1. Business Problem,

2. Solution Ideas
3. Business Outcomes
4. Users & Customers
5. User Benefits
6. Important thing to learn

7. Least amount work to learn it.

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Recommend TWO UX Measurement Tools for business to make use of in order to measure UX and collect valuable analysis data for the business.

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Copy of Sneakers Shop Pitch Deck by Slidesgo

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Nike follows a wholesale strategy combined with a very strong direct distribution. The company makes money primarily from footwear. As of 2022, over 62% of revenues came from footwear and 29% from apparel. The most successful Nike brand is the Jordan Brand, which in 2022 generated $5.2 billion in revenue. Nike is the master of demand creation and generation through its influencer campaigns, where athletes become an inspiration for everyday people.

Nike's main ability was creating an empire out of running shoes.

That might sound like a trivial statement. Yet, before Nike, no major US brand had done that.

In addition, Nike created a whole business ecosystem around shoes.

And it all starts by creating demand!

As the pandemic hit the world, Nike highlighted in its 2021 Shareholders' Letter:
This was the year we brought to life our Consumer Direct Acceleration strategy. As part of CDA, we successfully realigned our organization and began investing in our highest-growth areas. Part of that investment is our new consumer construct of Men's, Women's and Kids', which aligns us against the biggest opportunities we see ahead of us. We're putting resources behind our end-to-end digital transformation across the value chain as we unlock more growth and efficiency for the business.
And it further highlighted:
Our momentum is driven by the underlying strengths we enjoy - the competitive advantages that allow us to navigate whatever dynamics we face. Those strengths include our commitment to innovation, our digital advantage, and three brands in Nike, Jordan and Converse that create deep and meaningful connections with consumers across the globe.

Nike has nine essential categories:

Running,

NIKE Basketball,

The Jordan Brand,

Football (Soccer),

Men's Training,

Women's Training,

Action Sports,

Sportswear (our sports-inspired lifestyle products)

and Golf.

Men's Training includes baseball and American football product offerings.

Nike also markets products designed for kids, as well as for other athletic and recreational uses such as cricket, lacrosse, tennis, volleyball, wrestling, walking, and outdoor activities.

NIKE has six significant distribution centers located in Memphis, Tennessee, two of which are owned and four of which are leased.

Nike is supplied by approximately 127 footwear factories located in 15 countries. The largest single footwear factory accounted for about 8% of the 2017 NIKE Brand footwear production.

All of Nike's footwear is manufactured outside of the United States by independent contract manufacturers who often operate multiple factories.

In 2017 Vietnam, China, and Indonesia manufactured approximately 46%, 27%, and 21% of total NIKE Brand footwear, respectively.

Nike revenues breakdown

Additional revenues also come from brands Nike managed independently, like Converse, which generated over $2.5 billion in 2022.

Nike distribution is divided across wholesalers and sales to its direct stores.

For a bit of context, Nike generated over $25 billion in 2022 by selling directly to Wholesalers, while it generated almost $19 billion through NIKE Direct.

In terms of distribution, 61% of shoes were sold through Wholesalers, while 39% were through NIKE Direct.

Global Brand Divisions revenues are primarily attributable to NIKE Brand licensing businesses not part of a geographic operating segment.

NIKE Brand wholesale equivalent revenues consist of:

Sales to external wholesale customers.

And internal sales from our wholesale operations to our Direct to Consumer operations, which are charged at prices that are comparable to prices charged to external wholesale customers.

Others include all unisex products, equipment, and other products not allocated to Men's, Women, and Young Athletes.

Men's sales represent most of Nike's total revenues.

While the Jordan brand is by far the most successful, with over $5 billion in revenues in 2022.

In 2022, North America represented the central geography for sales.

The most successful segment is still footwear, which was the fastest growing and represented 66% in 2021.

Nike spending on-demand creation

One key ingredient of Nike's success seems to be demand creation.

Demand creation expense consists of advertising and promotion costs, including costs of endorsement contracts, television, digital and print advertising, brand events, and retail brand presentation.

Demand creation passed the $3.8 billion mark in 2022.

As the footwear, Nike's segment recorded a massive leap in sales.

This is still the key ingredient secret, for Nike, as Steve Jobs explained many years ago:

How does it work? Nike explained:
The Company records demand creation expense for these amounts when the endorser achieves the specific goal. Certain contracts provide for variable payments based upon endorsers maintaining a level of performance in their sport over an extended period of time (e.g., maintaining a specified ranking in a sport for a year). When the Company determines payments are probable, the amounts are reported in Demand creation expense ratably over the contract period based on the Company's best estimate of the endorser's performance.
Yet the extent that actual payments to the endorser differ from the Company's estimate due to changes in the endorser's performance, and increased or decreased demand creation expense may be recorded in a future period.

Other contracts provide for royalty payments to endorsers based upon a predetermined percent of sales of particular products.

Through cooperative advertising programs, the Company reimburses customers for certain costs of advertising the Company's products.

NIKE is a massive footwear powerhouse comprising Nike, Jordan, and Converse brands.

The company followed a wholesale distribution strategy. However, it has strengthened its direct sales channel, playing a more critical role in recent years. The company is moving toward direct distribution.

Footwear is the main engine for the company, together with the Jordan brand, which generated over $5 billion in 2022!

Nike's Business Strategy: Nike employs a combination of wholesale and direct distribution strategies. While it traditionally followed a wholesale approach, it has been increasingly focusing on its direct distribution through NIKE stores and its e-commerce platform (SNKRS) since 2020.

Revenue Sources: The majority of Nike's revenue comes from footwear sales, accounting for over 62% of revenues in 2022. Apparel contributes about 29%, followed by equipment and other categories.

Jordan Brand Success: The Jordan Brand is a standout success, generating $5.2 billion in revenue in 2022. It operates on a demand generation business model, leveraging the iconic brand to boost the sales of footwear and apparel.

Distribution Centers and Manufacturing: Nike has several distribution centers, and its footwear is manufactured primarily outside the United States through independent contract manufacturers. Major manufacturing countries include Vietnam, China, and Indonesia.

Global Revenue Breakdown: In 2022, North America was the leading geography for Nike sales, followed by EMEA, Greater China, and the rest of the world.

Demand Creation Strategy: Nike is known for its demand creation strategy, spending significant amounts on advertising, endorsement contracts, and promotional events. This strategy helps create consumer interest and drive sales.

Revenue Growth: Nike's revenues have continued to grow, reaching over $46 billion in 2022, driven by demand creation and the popularity of its footwear offerings.

Mission and Vision: Nike's mission is to expand human potential through innovative sports products, sustainable practices, a diverse global team, and positive community impact. Its vision is to bring inspiration and innovation to every athlete in the world.

Nike's Impact: Nike's influence extends beyond its products, as the company focuses on innovation, digital advantages, and meaningful connections with consumers through its brands, including Nike, Jordan, and Converse.

Converse Brand: Converse, an independent brand under Nike, generated over $2.5 billion in revenue in 2022. It follows both wholesale and direct distribution strategies.

Product Categories: Nike offers a range of products in categories such as running, basketball, football (soccer), training, action sports, sportswear, and golf, catering to various sports and lifestyles.

Commitment to Innovation: Nike's strengths include a commitment to innovation, a digital advantage, and deep connections with consumers through its brands.

Endorser Contracts: Nike's demand creation expenses include costs related to endorsement contracts with athletes. Payments are made based on specific goals and performance levels achieved by endorsers.

Creating an Empire: Nike revolutionized the sportswear industry by creating a massive empire out of running shoes, with footwear as the driving force behind its success.

Direct-to-Consumer Approach: Nike's Consumer Direct Acceleration strategy involves investing in its highest-growth areas, including a focus on men's, women's, and kids' product segments, as well as enhancing its digital transformation for more growth and efficiency.

Continuous Growth: Nike's direct sales have shown steady growth, increasing by over 50% from 2020 to 2022, emphasizing the company's evolving distribution strategy.

Emphasis on Footwear: Footwear remains a central focus for Nike, being the fastest-growing segment and contributing significantly to the company's overall revenue.

Wholesale and Direct Sales: Nike balances its sales between wholesalers and direct stores, aiming to strengthen its direct distribution channel while maintaining relationships with wholesalers.

What kind of business model Nike use?

What is Nike's core business?

How does Nike make a profit?

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Nike Business Model: Demand Generation As Core Asset - FourWeekMBA

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Nike makes money by primarily selling footwear via wholesale customers that distribute the Nike brands across the globe. As of 2020, over 66% of revenues came from footwear and over 30% in apparel. The most successful Nike brand is the Jordan Brand, which in 2021 brought over $4.7 billion in revenues to the company.

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Check Pages 1-47 of Nike Brand Book in the flip PDF version. Nike Brand Book was published by kaileeyan02 on 2021-04-26. Find more similar flip PDFs like Nike Brand Book. Download Nike Brand Book PDF for free.

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Business Background

Nike, Inc. is an American multinational corporation that specializes in athletic wear, providing footwear, apparel, athletic equipment, and accessories

It was founded in 1964 as Blue Ribbon Sports by Bill Bowerman, a track-and-field coach at the University of Oregon, and his former student Phil Knight

The company was renamed Nike, Inc., in 1971 after the Greek goddess of victory

Nike is headquartered in Beaverton, Oregon, USA

Key Business, Key Products/Service

Nike’s primary goal is to supply athletes with exceptional products and wearable that aids them in better sports performance

The company’s business model is based on producing and selling athletic and sports products, including footwear, clothing, equipment — and also some services

Key product categories are running, basketball, the Jordan Brand, soccer, training, and sportswear

Nike also markets and distributes various products for kids and other recreational and athletic activities such as football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities

Business SWOT Analysis

Strengths: Strong brand awareness and brand value; huge customer base; aimed for sustainability; iconic relationships; side brands; low manufacturing cost

Weaknesses: Controversial labor practices; over-dependence on the U.S. market; worrying financial indicators; unfavorable relationship with retailers; over-dependence on their line of footwear; reduced quality control

Opportunities: Investing in new markets; increasing their product range; tapping into the future; introducing anti-counterfeiting technology and methods; investing in sustainability

Threats: Counterfeit Nike products; competition from other sports brands; high profile patent disputes; international trade tensions; animal abuse scandal

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Nike is an American sportswear company that specializes in footwear, apparel, and equipment.

Nike was founded in 1964 as Blue Ribbon Sports by Phil Knight, a former track-and-field athlete, and Bill Bowerman, his coach at the University of Oregon.

Nike changed its name in 1971 after the Greek goddess of victory. The same year, it introduced its famous Swoosh logo, designed by a graphic design student for $35.

Nike became a public company in 1980 and expanded its product line to include various sports and fitness categories.

Nike is one of the most valuable brands in the world, with a global presence and a loyal customer base.

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A lack of workplace diversity hampers a business's user experience (UX). It can lead to a limited viewpoint, unintentional biases, and cultural insensitivity. Testing may be inadequate, and opportunities for innovation may be missed. Such a situation can harm a company's reputation, lead to legal troubles, and cause a loss of market share. To enhance UX, businesses must actively embrace diversity, conduct user research, and ensure products cater to a broad audience. Providing diversity training and fostering an inclusive culture are essential for achieving a better UX through diversity.

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By S. K. Gupta, Last updated: April 19, 2023

Company: Nike
CEO: John Joseph Donahoe
Founders: Phil Knight and Bill Bowerman
Year founded: 1964
Headquarter: Beaverton, Oregon
Employees (FY22): 79,100
Type: Public
Ticker Symbol: NKE
Revenue (FY22): US$46.71 Billion
Profit | Net income (FY22): US$6.04 Billion

Products & Services: Apparel | Athleisure | Footwear | Sports Equipments | Accessories
Competitors: Adidas | Under Armour | Allbirds | New Balance | Sketchers | Puma | Fila | ASICS | Lululemon | Fabletics | Victoria Secrets

Nike swoosh logo is inspired by the Greek goddess of victory, Nike

An Overview of Nike

Nike, Inc. is an American multinational corporation. Nike is headquartered in Beaverton, Oregon, USA. It was found by Bill Bowerman and Phil Knight in the year 1964. The company specializes in athletic wear, providing footwear, apparel, athletic equipment, and accessories.

Nike's primary goal is to supply athletes with exceptional products and wearable that aids them in better sports performance. However, due to the success, Nike has gotten the company now provides athleisure wear as well. Currently, John Donahoe is the CEO of Nike.

Here's a detailed breakdown of Nike SWOT analysis.

Nike's Strengths - Internal Strategic Factors

1. Strong Brand Awareness and Brand Value

Nike is one of the most recognizable brands in the world as its name alone is memorable, easy to pronounce, and very unique. Its swoosh symbol is easily recognized by everyone. According to Interbrand global brand ranking report, Nike is ranked at # 10 position with a brand value of $50.2 Billion.

Nike has millions of customer from around the world who loyally follow Nike's trends, participate in Nike events, and even provide customer feedback. Due to its huge popularity, Nike's market cap has grown to $193 billion as of April 2023.

3. Aimed For Sustainability

Nike's CEO Mark Parker has addressed that they will continue to acknowledge the environmental issues in the communities. The CEO ensures that Nike will help to contribute in finding a solution against these environmental issues.

4. Iconic Relationships

Nike's long-term partnership with Michael Jordan has proved to be beneficial in terms of sales for the company. Their collaboration resulted in " Air Jordan 1 Shoes ". Additionally, Nike teamed up with the famous basketball player to help design the "Air Jordan 1 Shoes".

Nike's ability to maintain and enhance its side brands such as converse and Hurley have enabled it to enjoy unparalleled success for decades.

6. Low Manufacturing Cost

Most of Nike's footwear is manufactured in foreign countries. In the fiscal year 2022, Vietnam produced 44%, Indonesia produced 30%, and China produced 20% of total Nike's footwear. Other operations are in Argentina, Brazil, India, Italy, and Mexico.

7. In-house Professionals

Nike has a team of professionals that design its shoes and other athletic accessories. Nike believes that their business has flourished due to the thorough research that is conducted for each product.

8. Superior Marketing Capabilities

Nike has excellent marketing campaigns. The brand heavily relies on demand creation expense, which includes advertisement, promotion, endorsement contracts, media print and complimentary products. In the fiscal year 2019, 2020, 2021, and 2022 Nike spent $3.7 billion, $3.6 billion, $3.1 billion and $3.8 billion respectively. The brand has successfully utilized social media and marketing campaigns to target more customers .

The brand has excellent marketing campaigns and recently released "Don't Do It" ad campaign in support of Black communities against racism.

Nike is a of the global market leader in footwear industry. Nike has captured approximately 39%athletic footwear market and 13% of global athletic apparel market.

Nike's Weaknesses - Internal Strategic Factors

1. Poor Labor Conditions in Foreign Countries

In the last 20 years, Nike has been consistently targeted regarding their poor labor conditions. These issues include forced labor, child labor, low wages, and horrific working conditions that were deemed " unsafe ".

2. Retailers Have a Stronger Hold

Nike's retail sector makes Nike weak due to its sensitivity against pricing. 65% of Nike products are sold directly to wholesalers or retailers. With retailers serving as their core customers, Nike does not put up a fight against their pricing structures whatsoever.

Although Nike's income statements prove to be prosperous, a quick glance at their balance sheet could paint a different picture. Nike is still facing financial threats. As of FY22, Nike's total long term debt was $8.9 billion

Recently, a former employee accused Nike of discrimination based on his Croatian origin.

Four former female Nike employees filed a class-action lawsuit against the company in August 2018. According to these women, Nike has a toxic company culture for women. The women filed their case against the sportswear company claiming that the company violated the Equal Pay Act. The women said the company engaged in systematic gender pay bias where men were paid more than women for the same amount of work.

5. Lack of Diversification

Nike's over-dependence on sporting apparel or lack of diversification is a major weakness. The pandemic has discouraged physical interaction and gathering with sporting events canceled or postponed. Several sporting teams are on the brink of collapse. If the crisis discourages sporting events for longer, Nike's losses can be catastrophic.

6. Contradicting Strategies

Nike pledged to shift all its facilities to 100% renewable energy with net-zero carbon emissions under the " Move to Zero" scheme. While the strategy is great and welcomed, it contradicts Nike's strategy that favors innovation over sustainability. This creates the perception that Nike is not committed to addressing climate change and its pledge is just a marketing stunt.
7. Dependency on North America especially US Market
Even after having established itself globally, Nike still relies on the U.S Market in terms of sales and revenue. In the fiscal year 2022, about 41 % of Nike's sales came from the North America, while the rest of 59% came globally. Despite its fame, Nike depends on the U.S for substantial sales and growth.

Former female employees also pointed out that sexual harassment and misconduct was very common in the company. The New York Times conducted interviews with 50 former and present Nike employees to investigate the company culture. Through the interviews, it was established that Nike did have a toxic working environment, where sexual misconduct was rampant.

Multiple female employees reported that they had complained to the HR but saw no action being taken from their part. The women were left devastated and felt unsafe while working at Nike. Some even left their jobs. The entire controversy has significantly affected the company's image.

Nike's Opportunities - External Strategic Factors

Although Nike already has a presence in many foreign countries, there is still plenty of opportunities for Nike. This is because emerging markets like India, China, and Brazil are gradually flourishing.

Although Nike has produced many products, there is still a lot to innovate. Nike has extended its reach in technology in association with fitness and health. Products like wearable technology that monitors physical activities, is the first step in building innovative technology products . Combining technology with athletic wear can prove to be beneficial as it is an aspect of the fashion industry that still hasn't been explored much.

3. Efficient Integration

The supply and production of Nike's products depend on independent manufacturers. The brand can either acquire a few of these or make some of its own for a more efficient and streamlined supply chain.

4. Cutting ties with big retailers

Nike has decided to cut ties with some of the biggest multi-brand retailers and wholesale partners. According to the Nike will no longer work with wholesale retailers such as Zapoo's, Dillard's, Fred Meyer, Bob's Stores, etc. The step is taken for better product positioning and greater customer experience.

5. Acquired Artificial Intelligence Start-up

With its vast financial resources, Nike can acquire small or medium companies or startups. It recently acquired predictive analytics platform - Celect to expand its online sales capabilities and predict customer's shopping behavior.

6. Merges with the Metaverse

Recently, Nike acquired RTFKT, a digital shoe-making company. Yes, you heard that right, the company designs shoes, but for the virtual stratosphere only. However, RTFKT also claimed that it partnered with FEWOCiOUS (a young artist) to sell real shoes along with their digital versions. Nike is banking on the opportunity to market their digital shoes on the , where players can use their Metamask wallets to purchase different types of in-game merchandize.

7. Exiting From Wholesale Distribution

Recently, Nike announced it's going to be exiting the wholesale distribution market in the U.S. The company plans to only market its products at Nike stores, app, and websites. According to Nike, the move away from distributors is going to help them double their profit margins. Moreover, Nike will also have the opportunity to spearhead the customer shopping experience as well as control prices.

8. Nike to End Use Of Kangaroo Leather For Its Shoes

Nike has announced a significant move that will please both animal rights activists and consumers. The athletic apparel giant will no longer use kangaroo skins in their shoes, ending a controversial practice. The decision comes after Puma made a similar move weeks ago.

Instead of kangaroo leather, Nike will use synthetic material in its new line of Tiempo football boots, the Tiempo Legend Elite, set to launch this summer. The company also ended its partnership with its sole kangaroo leather supplier in 2021, reflecting its commitment to more sustainable and ethical practices.

9. Consumer Direct Strategy

Nike has accelerated the consumer-direct strategy, which means shifting its focus to digital business and subsequently closing physical stores. In fiscal year 2022, 42 % of its Nike revenue comes from online sales. Clearly, the pandemic is shaping up how Nike interacts with its customers.

Nike's Threats - External Strategic Factors

1. Counterfeit Products

Counterfeit products can significantly affect the revenue and reputation of Nike. The company deals globally and the risk of counterfeit products has become higher. A number of merchandisers and retailers offer counterfeit Nike products at lower prices.

The low-priced products are made from low-quality materials but still have the Nike label. This can tarnish the image of the brand as the customers might feel that Nike has started producing low quality products.

2. Increased competitive pressure

Although, Nike is a dominating the athletic industry, competition, and new emerging brands are still potential threats to the company. With higher competition ratio, Nike has to spend more money on marketing and advertising.

Nike spent $3.8 Billion specifically on marketing and demand generation in fiscal year 2022. To overpower competition, Nike's safest bet is to design innovative products that are tailored according to the needs of athletes.

3. Marketing Budget Pressure

Companies like Under Armour , and are spending more on marketing and advertising campaigns, increasing the pressure on Nike.

4. Currency Foreign Exchange Risks

Since the brand operates globally, it is affected by fluctuating foreign exchange rates. Nike reports its financial earnings in U.S dollars. This affects its revenue as the U.S dollar is exposed to volatility against other financial currencies.

Regardless of whether a company is wrong or right, patent disputes are hotly and fiercely contested in the public domain and expose some dirty secrets about sides in the dispute. Nike and Adidas have been engaged in a fierce patent disputes over Primeknit and Flyknit shoes in U.S. and German courts.

6. Economic Uncertainty

Regardless of the industry, all companies are susceptible to the negative effects of a global . During lockdown, Nike had reported a decline in sales and sales can drop further in the future if the recession strikes as hard as predicted by experts.

Nike depends on different markets across the world evidenced by the recent increase in its stocks rallied by an increase in sales in China. With China and the US as its biggest markets, a large chunk of Nike's sales will be threatened if the trade tensions between the two giants escalate.

8. Patent Conflict towards Adidas Primeknit Shoes

In an appeal to a U.S. agency, Nike that Adidas has been infringing on the company's Flyknit shoe technology patent. The company also stated that the German shoe manufacturer had used filed a complaint Nike's Flyknit tech in 49 shoe designs (which uses Primeknit tech).

However, according to an Adidas representative, the company will fight these claims and stated that Adidas has started using their Primeknit technology after numerous years of research and development.

9. Risk to Kangaroo Population

Nike has been of putting the Australian kangaroo population at risk of extinction. The leading athletic brand uses kangaroo skin to manufacture leather football shoes. Animal rights activists and advocates have urged Nike to rethink its strategies and to use So far, Nike hasn't responded to these allegations. plant-based alternatives.

10. Nike Faces A Wave Of Retail And Warehouse Thefts

Nike experiences a surge in theft crimes throughout its supply chain, including warehouse and train thefts. According to the National Retail Foundation, retail theft has become a massive problem in the United States, with an estimated cost of $95 billion.

The company has reported that thieves are stealing from shelves and vehicles. This forced Nike to close a popular outlet store in its hometown of Portland. In addition, two suspects were arrested in Memphis for stealing Nike merchandise worth about $60,000 from five rail cars. Despite having 344 stores across the United States, including outlets and Converse stores, Nike finds it hard to prevent theft along its entire supply chain.

11. Nike Sues Lululemon Over Patent Infringement

Nike has filed a complaint in Manhattan federal court against Canadian athletic apparel company, Lululemon, alleging patent infringement of at least four footwear products.

Nike claims that Lululemon's Blissfeel, Chargefeel Mid, Chargefeel Low, and Strongfeel footwear have caused economic harm and irreparable injury to the company.

Although this isn't the first time Nike sued for patent infringement, the recent complaint alleges that three patents have been infringed, including one addressing the performance of footwear when force is applied. While the company seeks unspecified damages, Lululemon has yet to comment on the matter.

Final Thoughts

The fiscal 2022 proved to be successful for Nike. Although the brand is still in debt, the next few years look promising. Nike has grown exponentially in the last decade.

From releasing new product lines to building new brands, to outsourcing, and establishing a global presence alone is an extraordinary achievement.

Through this SWOT analysis of Nike, you will be able to understand the business model of the brand.

References & more information

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By S. K. Gupta, Last updated: April 19, 2023 [wp-svg-icons icon="office" wrap="i"] Company: Nike[wp-svg-icons icon="user-4" wrap="i"] CEO: John Joseph Donahoe[wp-svg-icons icon="user-4" wrap="i"]

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Presentation with slides showcasing the following

Research & Findings

User Persona, including interview recording(s)

Customer Journey Mapping

Problem Statement & HMW Statements

Recommendations

Submission Due: Week 8

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From their iconic "swoosh" logo to their equally iconic range of footwear, Nike, Inc. is one of the most easily recognizable activewear brands in the world. But how did the company achieve such wild success? Let's take a look through the Nike SWOT analysis to figure out how the brand came to dominate the sportswear market and carve out a place for itself in contemporary sports culture.

A Brief Look at Nike, Inc.

While probably best known for its range of iconic footwear, most notably the Jordans brand of sneakers, Nike, Inc. is also a leading brand in other sports gear such as activewear, sports equipment, and wearable fitness tech. The company is undoubtedly successful in these areas, being the most valuable sports apparel company in the world, with a net worth of $189.5 billion in 2023. It is also indisputably one of the most successful brands in the world, with a brand value of $33 billion.

Nike directly employs over 79,000 people and indirectly employs countless others through its over 600 offshore factory partnerships. It is a truly multinational company, offering its products to over 170 countries, through more than a dozen unique brands, which each have a distinctive brand image and cater to a specific customer base.

Nike business model is famous for finding the perfect balance between fashion and functionality when it comes to their products, making them quite popular among both athletes and non-athletes alike. With this in mind, this article seeks to examine the strengths, weaknesses, opportunities, and threats to the brand.

Nike Strengths

Here, there are some of the advantages the Nike company has over its competitors.

Nike Possesses Strong Brand Equity

Aside from the fact the Nike brand is one of the most recognizable identities in the business world, it also commands strong brand equity. In simple terms, brand equity is defined as the commercial value enjoyed by a company based on the social perception of its products or services by consumers.

There are three main components to brand equity; brand loyalty (how likely users are to stick with the brand), brand awareness (how well-known the brand and its products are), and brand association (how people feel about the brand). All these are key areas where the company has a strong comparative advantage over competitors.

Through an audacious - yet carefully weighted - marketing strategy, Nike has been able to position itself as one of the leading figures representing the cultural identity of the current generation. The brand has also been able to cultivate a reputation associated with innovation, quality, and a liberal ideological stance concerning critical contemporary issues, such as racism, LGBTQ+ rights, and body positivity.

The Brand Enjoys an Enormous Market Share

Very few brands enjoy the proportion of market share that Nike does. The company has consistently dwarfed its top competitors - such as Adidas, Puma, and ASICS - in terms of both revenue and raw sales. This is especially evident in the U.S. market, where Nike is by far the most popular sports apparel brand, especially when it comes to footwear.

Another positive indicator of the strength of the brand is the fact that unlike many of its competitors, it has seen its revenue grow consistently in the past few years. The Nike company made a total annual revenue of $46.71 billion in 2022, representing an almost 5% increase from its total revenue in 2021.

Low-Cost Manufacturing Is a Key Part of Its Business Strategy

One of the reasons that Nike has been able to maintain its profitability over the years is that it has invested heavily in low-cost manufacturing. It achieved this by outsourcing virtually every aspect of the product manufacturing process to countries that have a favorable wage structure, such as China, the Philippines, Vietnam, Indonesia, and Taiwan.

Another factor that keeps costs low and profit margins high is the fact that Nike does not own any of the factories where these goods are produced. These outsourcing companies are simply given strict guidelines and protocols concerning the quality and production process for Nike products. The company has also significantly invested in various innovations and technologies that help reduce labor cost and material costs.

Innovative Marketing

Effective branding and marketing are the key pillars of any successful company. However, Nike has taken this to a whole different level. Through the smart use of celebrity endorsements (which will be discussed next), iconic catchphrases, the Nike "swoosh" logo, and commercials such as the worldwide-famous 'Just Do It' campaign, as well as their ability to align the brand with positive associations such as innovation, stylishness, maximum performance, winning, self-empowerment.

Nike has also been able to successfully leverage social media to reach out to a broader audience of potential customers. This is because the core demographic they market to are young people between the ages of 15 to 45 years old who are highly active on a variety of social media platforms. This explains why the company is one of the most expensive brands in the world, with a brand value estimated to be about $33 billion in 2022.

Iconic Celebrity Endorsements

From the iconic Michael Jackson Pepsi commercial to David Beckham's $160 million deal with Adidas in 2003, major corporations have long been aware of the advantage of leveraging celebrity popularity and influence to promote their products. Nike is well-known for running one of the most successful celebrity endorsement campaigns in recent history, closely associated with famous athletes and non-athletes like Michael Jordan, Rafael Nadal, Bella Hadid, Cristiano Ronaldo, and Maria Sharapova.

There are several ways the company has used its brand ambassadors to further its brand value and promote its brand image. For example, Nike ran a highly successful collaboration with basketball legend Michael Jordan to create an iconic line of sneakers known as the Air Jordan. The partnership was wildly successful, and the Air Jordan brand generated a revenue of over $5 billion for Nike in 2022.

Nike also takes advantage of the public image of its various ambassadors concerning a wide range of contemporary issues. This allows the brand to position itself positively as a champion of social justice, equity, and inclusiveness. For example, the brand supported the Black Lives Matter movement in a widespread campaign against institutional racism in America using the slogan "Don't Do It" and featuring prominent African-American celebrities such as Colin Kaepernick, LeBron James, and Serena Williams.

A Range of Successful Side Brands

Despite what most people think, the Nike brand is not the sole brand of Nike, Inc (although it is by far its most successful). They also support a range of successful side brands such as Converse, Jordans, Umbro, Hurley, Nike Golf, and Cole Haan.

The probable reason behind the success of these brands is the ability of the Nike corporation to apply the same principles which helped build up its primary brand to other divisions, while still allowing them to support unique identities and develop a unique following with its organic customer base.

For example, Cole Haan is primarily a luxury brand, Converse markets a wide range of lifestyle apparel that caters to a younger generation significantly associated with skating culture, and Umbro is mainly popular in the UK and markets itself as primarily a soccer brand (which is understandable since that is by far the most popular sport in the region).

Getting Rid of Retailers

Nike has made headlines over the past few years for gradually cutting ties with its major retailers, which include department stores, brick-and-mortar stores, and sporting goods specialists. The company does not operate a significant chain of dedicated retail outlets and therefore has mainly used third-party businesses to market its products to customers.

By promoting direct-to-consumer sales, they have greater control over customer experience, pricing, profit margins, and brand image. They have achieved this by increasing their e-commerce presence, as well as launching a suite of apps that allow customers to purchase their goods directly from the brand.

A Successful E-commerce Platform

Many successful brands have followed a gradual shift away from the traditional brick-and-mortar system towards online retail and e-commerce. Nike is certainly not one to be left behind, as its e-commerce section has seen steady growth over the past few years. Direct-to-consumer sales represented almost 40% of the total sales in 2021, with a brand revenue of $16.4 billion within that same fiscal year.

However, the company is not satisfied with this achievement. Their short-term goal is to achieve 60% direct-to-customer sales by the year 2025, further cutting out the need for retail outlets and allowing them to increase their profit margins further and have greater control over product prices.

Impressive R&D Department

Nike is more than just a company that sells sports footwear. They are also considered drivers of innovation with regard to sports apparel and equipment. The company is well known for outspending its closest competitors in this area. In fact, it has introduced some of the most iconic developments in competitive sportswear, making it a favorite for many top athletes.

One of the secrets behind the success of the company in research and development is the fact that it all sources its low-cost manufacturing process. This allows the company to focus on high-value activities such as R&D as well as branding and marketing.

The Company Enjoys a High Market Valuation

Nike is the most valuable sportswear company in the world and also one of the most valuable companies in the world, with a market capitalization of $189 billion. This allows the company to attract a variety of investors as well as enjoy low-interest loans. It also increases consumer confidence in both the products and its stock, therefore allowing the brand to drive growth further.

Nike Weaknesses

Here, there are some of the potential internal threats to the success of Nike, Inc.

Controversial Labor Practices

As we mentioned earlier, one of the key factors behind the success of Nike was the low-cost manufacturing process. One of the primary reasons behind this is the fact that their products are produced in countries that have relatively cheaper wage structures. However, several reports published in the late 1990s indicated that in the process, the company might have been involved in unethical labor practices such as poor working conditions, long working hours, and abysmal pay.

The company has made some effort to remedy this situation by establishing a Fair Labor Association and Code of Conduct in 1991. It also performed health and safety audits of over 600 of its factories in the early 2000s. Since 2005 the company has also published annual reports of the safety conditions in labor practices of its factories all around the world to boost transparency. While this has gone some way in improving consumer confidence in the company, the stain of the scandal still lingers with Nike to this day.

The Brand Is Over-dependent on the U.S. Market

While Nike may be correctly seen as a global brand, careful analysis shows a significant portion of its revenue comes from the U.S. market. Well, this may not necessarily be a bad thing, it can be likened to placing all your eggs in one basket. This is because it leaves the company vulnerable to market shocks or economic downturns within the U.S. market.

Worrying Financial Indicators

While Nike is still by far the most valuable sports apparel company in the world, recent worrying financial trends have been brought to the spotlight. One of them is the steadily increasing long-term debt profile of the company. Nike's long-term debt stood at about $8.9 billion in 2022, a 5.21% decline from the previous year but more than twice what it was just three years prior and nearly forty times its value ten years ago.

Even with these figures, the Nike debt burden is still quite sustainable at its current rate of growth. However, it becomes worrisome when you consider the fact that the company's profit margins have steadily declined over the past few years while those of similar competitors such as Adidas have been increasing. Investors might want to keep a close eye on these two factors, as they may be signs of potential financial woes within the company.

Unfavorable Relationship With Retailers

We have already discussed the relationship between Nike and third-party retailers, and how it has tried over the years to reduce its dependence on its services. While it has made considerable strides towards this, a majority of its revenue still comes through these outlets. This, therefore, exposes the company to some of the disadvantages associated with this strategy, such as lower profit margins, as well as less control over their branding and customer experience.

Another issue that the company faces with the use of third-party retailers is the sale of counterfeit products. These substandard goods still bear the Nike logo and therefore cause significant harm to the brand image. If the company operated with exclusive Nike retail outlets, it would have much better control over these factors.

Their Revenue Stream Is Over-dependent on Their Line of Footwear

In the modern business world, specialization is definitely an advantage. However, businesses must avoid the mistake of becoming overly dependent on a narrow range of products or services. The Nike brand offers a wide range of sports-related products, but over 60% of the revenue comes solely from their sales of footwear.

Similar to being overly dependent on a single market, being overly dependent on a single product leaves you vulnerable if significant shocks were to affect the sale of this product. This could include supply chain issues, negative brand associations, or even a fall in the popularity of the brand.

The Company Is Slowly Cultivating the Image of a Luxury Brand

Despite its beginning as a humble sports apparel company, Nike, through a series of popular collaborations with high-fashion brand names - such as Louis Vuitton, Sacai, and Jacquemus - has carefully cultivated the image of a high-end luxury brand.

While this may help the company open up its customer base to wealthier clientele who can afford more expensive products, it also runs the risk of alienating its traditional customer base. This is becoming evident in the prices the brand charges for some of its designer products, such as the $8000 Nike Air Force One Vlone, $18,000 Nike Air Jordan 4 Retro Eminem "Encore," and the Solid Gold Ovo Air Jordan owned by hip-hop artist Drake which was purchased for a mind-boggling $2 million.

Reduced Quality Control

One of the disadvantages of outsourcing your manufacturing process is that you have reduced control over the quality of your products. While Nike is certainly a brand that pays close attention to this fact and is well-known for the quality of their product, even they are not immune to this flaw. Outsourcing can also increase the risk of the market being flooded with counterfeit Nike products.

Nike Opportunities

Here, there are some opportunities the company can capitalize on to improve its branding and revenue.

Investing in New Markets

Nike still has room to expand its role as a global market by making inroads into new markets, such as increasing their presence in Europe, Africa, and Asian markets outside of China. Not only will this significantly increase their revenue, but it will also reduce their over-reliance on their North American market.

Another way they can invest in new markets is by diversifying their product range. Even though the company is dominant in the sportswear industry, they are far from the market leader when it comes to women's sportswear. This is a potentially untapped market that could create billions of dollars worth of revenue.

Increasing Their Product Range

Another area the brand could look into is investing in sports technology, such as wearable sports gear like smartwatches and other forms of digital sports technology. They could also invest in promoting their other sports products besides footwear.

There are several strategies the company has adopted to achieve this by exposing customers to a wider range of their products through dedicated Nike product outlets such as NikeTown, and Nike stores, as well as various retail outlets belonging to their subsidiaries. This can help them market their less popular items, such as sports equipment.

Tapping Into the Future

We have already discussed the efforts that Nike has made to increase its online presence, as well as improve the proportion of its direct-to-customer sales. However, there are other ways the company can improve its online revenue.

One of these is by introducing artificial intelligence into their e-commerce activities. Nike seems to be taking a step in this direction through their acquisition of the Boston-based predictive analytics company Celect. The goal of this technology is to use predictive algorithms to determine which products and apparel a particular user will be most interested in and where they can purchase it from.

Another way the company has attempted to expand into newer technologies is by investing in the Metaverse. They have done this by acquiring the virtual reality company RTFKT. RTFKT is a virtual reality company responsible for creating a range of virtual products such as sneakers, NFTs, and other forms of collectibles. The company attracted the attention of Nike when it sold $3.1 million worth of virtual Nike sneakers in just seven minutes.

Introducing Anti-counterfeiting Technology and Methods

Counterfeit products are one of the greatest dangers to a brand obsessed with quality control, such as Nike. Therefore, it is understandable that the brand has introduced a wide range of methods and technologies to battle this threat.

Some of these include liaising closely with local and international law enforcement agencies, creating a platform that allows users to report counterfeit Nike products, promoting direct-to-consumer sales through a range of dedicated stores and online retail services, as well as collaborating with large e-commerce platforms such as Amazon who unfortunately market a large number of counterfeit Nike products.

Investing in Sustainability

A growing number of consumers are more environmentally conscious and would like to see similar attitudes from the brands which they patronize. In line with this threat, Nike has taken steps to ensure that its company embodies these values, and one of these steps was to promote the use of recycled and sustainable materials in its products.

For example, the company introduced a new collection that was aimed at reducing its carbon footprint by 75% when compared to the other products. The company has also started encouraging customers to recycle used apparel as well as return old footwear to the company for refurbishment.

Nike Threats

Here, there are a few external threats to the success of the Nike company.

Counterfeit Nike Products

As mentioned earlier, counterfeit products reduce the trust customers have in brand quality and create a negative brand image. Counterfeiting is a serious issue and is believed to have made up about 2.5% of international trade in 2019 (roughly $464 billion). This is especially important for Nike because the brand is one of the most counterfeited in the world, with footwear being one of the most commonly faked products.

Aside from the effects counterfeiting has on brand image, it also leads to significant losses in revenue. This is because many customers may seek out counterfeit products, as they are typically cheaper than the originals. Some reports have shown that Nike loses as much as 10% of its annual revenue to counterfeit products.

Competition From Other Sports Brands

Nike is undoubtedly significantly ahead of other sporting wear companies such as Adidas, Reebok, Under Armour, and Puma. However, some of these companies, such as Adidas, command a significant market share and pull in revenue that is indeed threatening Nike's continued dominance of the industry.

Another threatening issue is the fact that Adidas has been consistently growing at a faster pace than Nike over the past few years. Adidas has grown at an impressive 17.6% since 2015, while Nike has only managed to achieve a growth rate of 6.8% in that same time. Adidas has also taken a page from the Nike playbook by investing heavily in attracting some big-name celebrities such as David Beckham, Novak Djokovic, and Pharrell.

High Profile Patent Disputes

As one of the market leaders in terms of research and development, Nike fiercely protects its intellectual property, such as patents. Therefore, it was certainly newsworthy when the company got into a series of legal battles with its nearest competitor Adidas over accusations of patent infringement related to the Nike Flyknit technology.

In response, Adidas filed several cases of its own, arguing that it had also committed patent infringements by copying several of Adidas' designs and technology. Both companies eventually agreed to drop the cases and settle out of court. However, the scandal did leave a lasting mark on both of their reputations and exposed the level of intellectual property theft within the industry.

International Trade Tensions

As an international brand, Nike is exposed to the nuances of trade agreements, embargoes, protectionism, as well as trade tensions. This is especially important now due to the heightened tensions between the United States and China, with the latter being the largest buyer of Nike products in Asia and one of the most significant markets outside the U.S.

Animal Abuse Scandal

Nike has always been a company that has done its best to place itself on the right side of contemporary issues, such as those involving race, gender, and sexual orientation. However, the company has found itself embroiled in an animal rights scandal due to its use of kangaroo skin for the manufacture of its pineapple products.

Animal rights advocates have argued that this contributes significantly to the reduction of the population of kangaroos and even drives the regional kangaroo population toward extinction. Advocates have encouraged Brent to seek alternative leather sources, such as vegan leather.

Its Competitors Are Investing More Heavily in Advertising

In absolute terms, Nike spends more than its closest competitor Adidas on advertising, having spent approximately $3.8 billion on advertising in 2018 (less than 10% of its total revenue), while Adidas spent $3.5 billion (representing roughly 14% of its total revenue) in that same year.

This shows that Nikes' competitors are investing more heavily in advertising in an attempt to carve out a larger market share. Even though Mikey still has the upper hand as far as branding and marketing are concerned, to maintain its advantage, they need to focus on matching the efforts of its rivals.

Conclusion

The iconic swoosh, the memorable commercials in the wide range of celebrity endorsements. Nike is undoubtedly a brand that's hard to ignore and revels in its place in the spotlight. The company has mastered the art of utilizing effective branding and marketing strategies to promote its brand image and enhance sales. They have thoroughly dominated the sports apparel industry for decades, and it does not seem like the company is poised to relinquish this position anytime soon.

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From their iconic "swoosh" logo to their equally iconic range of footwear, Nike, Inc. is one of the most easily recognizable activewear brands in the world. But how did the company achieve such wild success? Let's take a look through the Nike SWOT analysis to figure out how the brand came to dominate the sportswear [...]

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- They have low power and low interest

-Community issues are addressed through NikeFoundation

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Employee’s performance directly translates to business performance

- They have high power

- They have high interest in fair compensation, opportunities, and purpose

- Nike addresses interests through corporate social responsibility policies/programmes

- Nike would motivate the employees by giving them more incentives like increased salaries and more benefits to motivate them thus increasing productivity hence increased profits

https://www.linkedin.com/pulse/nike-critical-analysis-organisation-structure-minh-ng%E1%BB%8Dc-l%C3%AA/

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It affects Nike’s legal operations

- It has high power and high control

- It is only interested in legal/compliance/tax revenues

- Nike can improve their relationship with the government by paying their taxes on time. This can also persuade the government to offer tax holidays and reductions

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- They have low power

- They have low interest

- Affect Nike - government intervention/consumer perception

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They are interested in Nike achieving profits

- They are interested in employee work satisfaction

- They have high power and high control

- They have low interest in the day to day operations

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Nike Stakeholders & Corporate Social Responsibility - Panmore Institute

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Nike stakeholders, corporate social responsibility, corporate citizenship, sportswear business ethics and sustainability analysis case study.

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- Are known for their low wages and poor working conditions.

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Empower Community, Environmental Sustainability, Support Diversity and Social Responsibility

NIKE has stayed as the Brand that provides high-performance athletic gear and apparel.

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https://docs.google.com/document/d/17h2JCTnqT2zi_dxglRLs9_1A-ZaCxOpSfF_yt0liOyE/edit?usp=sharing

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Nike is scrambling to fix supply chain problems as holiday shopping looms | CNN Business

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If you're coveting a new pair of Nike sneakers this holiday season, you might have to wait a while.

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Nike, as a global leader in sports apparel and footwear, generally provides a strong user experience. However, like any company, it may have areas that could be improved. Based on the information available, here are some potential weaknesses in Nike’s user experience

1. Website Navigation: Some users might find Nike’s website difficult to navigate due to its extensive product range and complex categorization. Improving the site’s search functionality and product filtering could enhance the user experience.

2. Mobile App Performance: Users might experience issues with the Nike mobile app, such as slow loading times, crashes, or problems with specific features. Regular updates and bug fixes can help address these issues.

3. Customer Service: There could be room for improvement in Nike’s customer service. This could include faster response times, more efficient handling of complaints and returns, and better communication with customers.

4. Personalization: While Nike has made strides in personalization, there might still be opportunities for improvement. This could include more personalized product recommendations, tailored fitness plans in the Nike Training Club app, or customized shopping experiences based on user preferences.

5. Virtual Fitting: As online shopping becomes more prevalent, virtual fitting is becoming increasingly important. Nike could improve its user experience by offering more accurate sizing information or virtual fitting tools.

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Nike has more than 100 million members in its Nike+ loyalty program and hopes to triple that number in the next five years, the company's chief digital officer, Adam Sussman, explained in a keynote session at Shoptalk.

The company is keen to add to its ranks as Nike+ members shopping on the brand's elevated platforms spend nearly four times the amount as non-member guests. This is a fact Mr. Sussman attributes to correctly targeting customers, which Nike defines by segment.

"Ultimately, we know when we deliver the exact right product, experience and storytelling it makes a tremendous difference," he said.

Mr. Sussman described three of the customer segments that Nike has broken out and the different lifestyle-targeted offerings it makes available to them.

The "Weekend Runner" is a 30-year-old woman with a half marathon coming up in a few months, said Mr. Sussman. As an active user of the Nike Run Club app, the company has a great deal of data on her running and achievements. Nike recently added an app feature, which plays recorded encouragement and advice from coaches, and has another that recommends shoes based on a runner's mileage and running habits.

The "Style Shopper" is defined as a 26-year-old woman who wants to be on-trend before, during and after workouts. The Nike app is tailored to this customer, featuring information on athletes and what Nike products they wear. It also includes data-based product recommendations, invitations and a "Reserved For You" function, which automatically reserves select products for customers in the correct size and invites them to buy. The app also allows users to message directly with accomplished athletes for product recommendations or even book a face-to-face appointment.

For the "Dedicated Sneakerhead" segment, Nike has taken steps such as gamifying its exclusive product launches with its SNKR Stash experience. With SNKR Stash, Sneakerheads go on a city-wide treasure hunt for virtual "Stash Spots" where they can purchase the products via mobile. Nike plans to enhance the experience with Stash Squad, now in development, which allows fans in areas remote from a treasure hunt to join a "squad," watch the event via livestream and receive the product if their squad leader wins.

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Segmentation is central to Nike's success - RetailWire

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Nike has more than 100 million members in its Nike+ loyalty program and hopes to triple that number in the next five years, the company's chief digital officer, Adam Sussman, explained in a keynote session at Shoptalk. What sort of data should brands base segment profiles on, and how can they get it?

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Over-dependence on their line of footwear

Consistent Branding Strategy

Are known for their low wages and poor working conditions

Over-dependence on their line of footwear

Lack of workplace diversity (Leadership Roles)

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Improve working conditions and wages for factory workers: Nike could implement higher standards of labor practices, monitor compliance, and increase transparency

Innovate new products and services based on customer feedback and data : develop new products and services that meet customer needs and preferences. This could include new categories like wellness, gaming, or esports, or new technologies, such as smart wearables, biometric sensors, or augmented reality, so nike will not too rely on just footwear

Partner with local communities and organizations: Nike could collaborate with local communities and organisations, such as schools, sports clubs, charities, or influencers, to promote its products and values, and support social causes. This could increase Nike’s brand awareness, trust, and engagement among its target audience.

invest more in developing and marketing its sports bras, leggings, jackets, hats, bags, and other items that appeal to a wider range of customers. , for instance they could have some unique selling points like Uniqlo, they emphasize on some technology they have covered which is heattech

Although NIKE has think of new technology using Blockchain

they have been granted a patent for a new product called “CryptoKicks.” Aside from being the coolest name ever to grace a shoe, it appears that they intend to utilize the cryptography aspect of blockchain to generate tokens that will be paired with the physical shoe, and will be transferred to the cryptocurrency wallet of the person who buys the physical shoe

https://www.foxbusiness.com/technology/nike-partnering-customs-border-protection-counterfeit-goods

https://medium.com/@andrewkepson/how-why-nike-is-using-blockchain-to-disrupt-the-sneaker-industry-c09ee68f7ee

We still have implemented by Using the blockchain technology and personalized by using the NIKE mobile application.

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Nike is partnering up with Customs and Border Protection to try to stem the influx of counterfeit goods flowing into the U.S.

The company is donating proprietary technology that will be tested at mail and consignment express facilities in the near future.

"Nike, Inc. is partnering with the U.S. Customs and Border Protection to help authenticate Nike, Inc. merchandise and prevent counterfeit products from entering the U.S," a Nike spokesperson told FOX Business.
CRACKDOWN ON COUNTERFEIT SUPER BOWL ITEMS IN EFFECT
Counterfeit goods are a growing problem in the United States, with the CBP seizing 26,503 shipments containing goods last year that would have been worth $1.3 billion if they were legitimate.

Clothing accounts for about 15% of those counterfeit goods, while jewelry accounts for 12% and shoes account for another 12%. The rest of the items consist of electronics, handbags, wallets, pharmaceuticals, toys and other goods.

Nike is a frequent target of these scammers. In 2019, CBP in Los Angeles seized 14,806 pairs of counterfeit Nike shoes that would have been worth $2,247,680 if genuine. The footwear, which came from China, was mislabeled as "napkins" in an attempt to mislead authorities.
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Counterfeit goods not only hurt American businesses, but also national security in some cases, according to CBP.

"As criminal organizations use proceeds from counterfeit sales to fund other illegal activity, our partnerships help strengthen our border security posture through innovation and resource optimization," Diane Sabatino, deputy executive assistant commissioner of the CBP Office of Field Operations, said Thursday.

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Nike partnering with Customs and Border Protection to stop the influx of counterfeit goods

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Nike is partnering up with Customs and Border Protection to try to stem the influx of counterfeit goods coming into America.

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Improve working conditions and wages for factory workers: This could improve the well-being and productivity of workers, reduce the risk of negative publicity, and enhance Nike’s reputation as a socially responsible brand. This could also increase customer trust and loyalty, and attract more partners and investors who share Nike’s values

Innovate new products and services based on customer feedback and data: This could help Nike meet customer needs and preferences, and offer more value and functionality to customers. This could also help Nike attract new customers and retain existing ones, and gain a competitive edge over its rivals. This could also increase Nike’s revenue and profitability, and foster a culture of innovation and creativity within the organization

Partner with local communities and organizations: This could help Nike promote its products and values, and support social causes. This could also help Nike increase its brand awareness, trust, and engagement among its target audience, and create a positive impact on society. This could also help Nike build long-term relationships with its customers and partners, and generate more word-of-mouth and referrals

Invest more in developing and marketing its sports bras, leggings, jackets, hats, bags, and other items that appeal to a wider range of customers: This could help Nike diversify its product portfolio and reduce its dependence on a single product line. This could also help Nike increase its market share and revenue, and reach new segments and markets. This could also help Nike enhance its brand image and recognition, and offer more choices and variety to customers

Use blockchain technology to create CryptoKicks: This could help Nike authenticate its products and prevent fraud. This could also help Nike increase customer engagement and loyalty, and offer more personalized and convenient shopping experiences. This could also help Nike create a new product category and a new source of revenue, and leverage its brand recognition and innovation.