Reported about 1 year ago
Nike plans to introduce new sneakers priced at $100 and below globally in an effort to boost sales, particularly as the company faces a significant drop in its stock value. The move comes as Nike has raised prices for its premium sneakers like the Air Jordan 1 to around $200, while competitors like Adidas offer models priced at $100-$120. Despite the attempt to attract price-conscious shoppers, Nike's shares plunged nearly 20% after reporting a sales decline and facing stiff competition. Analysts see this as a risky move for Nike amidst challenges like lack of innovation and declining resale values of key styles.
Source: YAHOO