Now that the COVID boom is over and the sneaker market is regressing to the mean, the impacts are felt in more ways than one. New releases are sitting on shelves, seeing discounts within weeks of the initial release, and some finding their way to outlets almost immediately. While this is excellent news for collectors trying to score pairs, it's not the best scenario for businesses whose sole goal is to move products. When companies don't reach those goals, there are consequences. For Nike, those consequences come in the form of rolling layoffs.
The layoffs have supposedly been going on for some time while Nike has done their best to keep the news quiet. Layoffs have come from various company divisions, from HR to Digital Products.
Nike has undoubtedly remained the Goliath in the footwear landscape, but it's no secret that they have lost momentum while other brands have carved out their piece of the pie. Nike no longer maintains a firm hold on running shoes, and brands like Asics and Salomon have entered the conversation for streetwear.
Make no mistake, Nike is one of the biggest companies in America and is in no danger of imploding. They've brought in several new executives and are adapting to current market conditions. They've proven their ability to overcome whatever obstacles face them, so hopefully, these layoffs will be short-term only, and people will soon be back to work. Follow us on Twitter and Instagram more news on the sneaker business and all the latest release info.
Image via Pentagram
Now that the COVID boom is over and the sneaker market is regressing to the mean, the impacts are felt in more ways than one. New releases are sitting on shelves, seeing discounts within weeks of the initial release, and some finding their way to outlets almost immediately. While this is excellent news for collectors trying to score pairs, it's not the best scenario for businesses whose sole goal is to move products. When companies don't reach those goals, there are consequences. For Nike, those consequences come in the form of rolling layoffs.
The layoffs have supposedly been going on for some time while Nike has done their best to keep the news quiet. Layoffs have come from various company divisions, from HR to Digital Products.
Nike has undoubtedly remained the Goliath in the footwear landscape, but it's no secret that they have lost momentum while other brands have carved out their piece of the pie. Nike no longer maintains a firm hold on running shoes, and brands like Asics and Salomon have entered the conversation for streetwear.
Make no mistake, Nike is one of the biggest companies in America and is in no danger of imploding. They've brought in several new executives and are adapting to current market conditions. They've proven their ability to overcome whatever obstacles face them, so hopefully, these layoffs will be short-term only, and people will soon be back to work. Follow us on Twitter and Instagram more news on the sneaker business and all the latest release info.
Image via Pentagram
