Nike Air Force 1s
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Nike plans to reduce the offering of popular sneakers such as the Air Force 1 and Pegasus.
The sportswear brand will instead focus on the Air Max Dn and a new running shoe.
The changes come after analysts described Nike’s footwear offering as “stale” last year.
This is a machine translation of an article from our US colleagues at Business Insider. It was automatically translated and checked by a real editor.
You might want to stock up on these iconic Nike sneakers before they disappear this year. On Thursday, the company announced that it was limiting the offerings of some sneakers, including the Air Force 1 and the Pegasus, to focus on other products.
“We know Nike is not living up to our potential,” Chief Executive Officer John Donahoe said Thursday. “It’s clear we need to make some important adjustments.”
This year, the sportswear brand is focusing on the Air Max Dn, a cushioned athletic shoe that launches next week. The Air range – a “double-digit billion dollar business” according to Donahue – includes shoes that will also be worn by athletes at the Paris Olympics this summer.
Donahue wore the new Air Max Dns during the annual press conference. The shoe is “really a unique and great sensation,” he said.
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Nike is also working on a new generation of the Pegasus running shoe. The Pegasus 41 is scheduled to hit the market this spring come. The focus on new designs comes after analysts last year called Nike’s once-coveted range “stale” and lowered their expectations for the company.
The manufacturer and its competitors, including Adidas, are also suffering from an overall decline in demand for sneakers, particularly in Europe and China.
Nike generates most of its revenue from sneakers, followed by apparel and equipment. In its most recent fiscal year, which ended May 31, Nike generated $33.1 billion (30.5 billion euros) from footwear – more than twice as much as from apparel Nike’s annual report shows.
On Thursday, the sporting goods maker also warned investors of a low single-digit decline in sales in the second half of 2024 amid economic volatility and slowing demand.
Read the original article in English here.