US Markets
Home›US Markets›Sectors›Nike faces hard turnaround as rivals gain ground
Nike faces hard turnaround as rivals gain ground
The outlet points to a slower-than-expected pace of change, plus brand risk after Kylian Mbappé left to join On.
BBC Business reports that Nike has struggled in recent years, with weakening sales, customer losses, and pressure from rivals as the company pursues a turnaround plan aimed at maintaining market dominance.
The outlet attributes part of the effort to Elliott Hill, a company veteran who was pulled out of retirement two years ago to lead the turnaround, saying Nike’s latest financial results show signs the strategy is working, though progress is described as more like a marathon than a sprint.
BBC Business also links the recovery challenges to brand disruption, citing the reported departure of football star Kylian Mbappé, who ended a 20-year association with Nike and joined Swiss rival On.
The outlet adds that while Nike remains a major brand globally, the shift raises questions about whether it can stay a top logo not only among elite athletes, but also among the fans who follow them.