Nike CEO Optimistic About Accelerated Transformation, Expects Improvement from Europe to Asia

　　Nike anticipates that its wholesale business will accelerate globally as it speeds up the launch of new footwear and apparel products and increases its investment in the sports sector.

　　CEO Elliott Hill stated that Nike has regained favor with retail partners in North America and has already developed the right strategies and assembled the appropriate leadership team, preparing to achieve the same objectives in other markets.

　　“We have the same group of consumers who want to buy our brand,” Hill said in an interview when discussing retail partners. “We can only gain market share when we bring growth and profitability to retailers.”

　　Hill is trying to show investors that his transformation initiatives will yield results for the world's largest sportswear company. Previously, Nike shifted its focus to direct sales channels, distancing itself from retail partners, which led many loyal fans to turn to competitors like Adidas, On Holding AG, and Hoka, resulting in a historic downturn for the company. Wholesale business accounts for about 60% of Nike's revenue.

　　In his second year at the helm, Hill has made progress in repairing relationships with retail partners and has also infused new energy into Nike's professional sports products, especially in running, basketball, and football. Nevertheless, he still faces a tough battle in boosting market growth momentum and reviving the struggling Converse brand.

　　During an interview at the Milan Winter Olympics, Hill mentioned that the outdoor sector is a key focus for Nike, with huge consumer demand potential from the United States to Europe and China.

　　Over the past year, Nike's stock price has fallen by about 12%, more than halving from its 2021 peak. This performance is generally in line with its peers, although Adidas and On have shown impressive growth and profitability, but they also face challenges in winning investor favor.

Editor: Li Tong