Nike is poised to post its steepest revenue drop in five years. App downloads have plummeted 35%, and in-store traffic is down 11%—already impacting key retail partners like JD Sports and Foot Locker, both grappling with markdown pressure and slowing sell-through.
But let’s not write Nike off just yet.
With Eliott Hill stepping in as CEO, the brand appears to be reactivating elements of its golden-era cultural strategy. Still, cultural resonance can’t be rebuilt overnight. Steering a brand of this scale takes time—expect a 12–18 month runway before meaningful momentum returns.
The bigger hurdle? The cultural and competitive landscape has evolved. It's more fragmented, more dynamic, and far less forgiving. Challenger brands like Montirex and Salomon are moving faster, striking harder, and winning credibility at street level.
Nike will recover—but its monopoly era is behind it.
