Nike’s move pull its sneakers from stores could create a huge opportunity for its rivals, who are already moving in.
The sportswear giant is focusing more on direct selling and revealed last year it would discontinue selling its items through many shops, including DSW, Urban Outfitters, and Olympia Sports.
This has led to competitors moving into the gaps, as well as trying to emulate its direct-to-consumer strategy.
READ MORE: NIKE IS HIRING FOR OVER 2,000 ROLES AFTER MASSIVE PROFIT INCREASE
Last week, Adidas announced a long-term agreement with Foot Locker that involves the creation and extension of franchises in women’s, children’s, and clothing.
Meanwhile, both wholesalers and shoe companies have revised their strategies.
DSW has been promoting other sports brands such as New Balance and Skechers.
Looking for a new job? Find the WhatJobs Career Advice Center here
Nonetheless, Nike isn’t the only corporation pursuing a direct-to-consumer approach.
Under Armour said in 2020 that it aims to close up to 3,000 wholesale locations in North America as part of its recovery strategy to focus on direct to consumer (DTC).
Adidas stated last year that it expects DTC to account for 50 percent of its revenue by 2025.
Source: Modern Retail
Follow us on YouTube, Twitter, LinkedIn, and Facebook
