Reported about 13 hours ago
Nike's new CEO, Elliott Hill, is under pressure to address the issue of oversupply that has impacted the resale market, particularly affecting iconic sneaker lines like Dunks and Air Force Ones. StockX's COO Greg Schwartz highlights that excessive product launches have led to discounting and diminished brand value, allowing competitors like Puma and Adidas to capture market share. With a significant drop in Nike's resale market presence, a turnaround strategy is seen as crucial.
Source: YAHOO