‘A big marketing statement’: Nike CEO puts faith in brand marketing to get business back to growth
Nike’s new CEO has committed to “increased investment in our brand” as it shifts its strategy against a backdrop of falling revenue.
Nike’s new CEO has committed to “increased investment in our brand” as it shifts its strategy against a backdrop of falling revenue.
After a tumultuous year, Nike looks to recover by dialing up its brand led marketing to address its major challenges in product and performance.
Outgoing CEO John Donahoe set Nike on the wrong trajectory, thanks to bad assumptions about product and distribution, and an insufficient focus on brand.
Bringing “newness” to the category through innovation and creating a distinctive brand facilitates pricing power with consumers, Nike CFO Matt Friend said.
The retailer has sold its high street branches, but retains its WHSmith travel retail proposition, which now makes up 75% of its revenue.
David Hills will remain at Asda until later this year with the supermarket yet to announce his replacement.
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