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In response to
"How Nike lost its cool -- (link)"
by
Reagen
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I read that yesterday and it was really interesting to see where things went wrong. They had the industry by the throat and then they got greedy.
Posted by
Krusty (aka Krustylu)
Sep 14 '24, 05:13
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Look, I'm not in the sneaker business but I knew how Nike made their money and it wasn't selling fancy, limited edition sneakers to people like me. It was selling regular sneakers to mom, dad and the kids in a mall or sneaker store.
It was very surprising how much they made off of their generic sneaker lines in stores. But they knew better and pulled out of the majority of those stores including Foot Locker which was their biggest partner. They killed it with direct to consumer sales but man was it a big mistake leaving those retail stores behind.
I'm happy to read that they're trying to repair the relationships they burned to the ground. I was very unhappy with how many mom and pop shops lost their Nike accounts as that was big business for them and often times kept them afloat. New Balance blowing up really helped to soften the blow but without Nike it's not easy to run a sneaker store.
It was such a fascinating article with a lot of good behind the scenes info that is either new to me or just confirming what I'd heard and read.
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