Just saw that earnings were missed, and they are finding it difficult to clear inventory. Article also claims prices going to be hiked up next year.
Yet....fans of this line have been pleading with them to increase production.
Bootleggers have to ramp up production because they won't meet demand.
Customers trying to give them money and can't...then have to resort to bootlegs.
....At least the bootleggers seem to be moving product and probably meeting their earning expectations...LOL.
for nike to be profitable company in this new world where everyone's so consumed by social media they need to simplify their product line. there is way too much going on. way too much product that sits that no one wants. they market *xxxx* product then sit there with a shocked pikachu face as to why their $50 budget shoes are not selling. how out of touch are these stupid marketing and production teams? seriously. i go to my outlet store and it's either 1. not outlet prices or 2. it's all garbage product from clothing (cheap cotton) to shoes (shoes that my dad wouldn't even wear). then on occasion you'll find a gem but it's either size 17 or size 7 because the employees bought up all the normal sizes for stockx reselling.
reps have become popular because people are fed up with paying 500% markup for a shoe that will either fall apart or they'll get bored of in a few months and want something new. 99% of their consumers aren't collectors but they'd like to still wear the shoes that their favourite celeb is wearing or, you know, the shoe that actually (hear me out please) looks good.
they'd make a lot of people happy, and they would make more money too, if they just did the following:
1. scrap SNKRS immediately. stop this exclusive crap. you just piss off your customers more than anything and these thoughts can easily be found across social media on drop days with "L" comments all over.
2. make shoes built to order for a period of time where demand can't be measured for a product launch (kobe's, travis scott's, other collabs that get hyped up within seconds) but don't actually limit stock. release shoes, give everyone time to place their orders and ship the shoes in 6-8 weeks or whatever it may be. this gives everyone an opportunity. imagine if apple only sold the iPhone on day 1 then never again? they wouldn't be a 3 trillion dollar company and iPhone's would be going for 10s of thousands of dollars. supply and demand. making things built to order also helps you manage your inventory so you're not creating waste. you save money on labour, save money on moving, selling extra stock, etc.
i don't think that nike will ever go bankrupt, however, i can see them having issues unless they change things up. they kind of remind me of blackberry prior to them going out of business. bunch of stubborn "important" and well paid individuals who think they have everything figured out but can't adapt with the current times. whatever strategies nike used 10 years ago can't be used today imo
