Nike promises ‘bigger, bolder brand storytelling’ to combat sales dip
After a tumultuous year, Nike looks to recover by dialing up its brand led marketing to address its major challenges in product and performance.
Nike plans to invest in “bigger, bolder brand storytelling” and “re-energise brand momentum through sport” as sales nosedive.
This statement of intent came from CFO Matthew Friend in a call with investors yesterday (1 October), as the sportswear giant revealed its first quarter revenue for the three months ending 31 August fell by 10% to $11.6bn (£8.7bn).
Nike hasn’t just suffered recently though, the brand has had a tumultuous 12 months with its outgoing CEO John Donahoe coming under heavy criticism for the direction he has taken the brand in.
