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Thu, 01 Oct 2026

Thu, 01 Oct 2026 What's gone wrong at Nike? How the world's sportswear giant lost its mojo

Several self-inflicted mistakes have cost the biggest sportswear brand on the planet in recent years.
Nike, the world's largest sportswear brand, has been struggling in recent years. Despite being known for its innovative products and partnerships with top athletes, the company has seen sales decline, customers defecting to rival brands, and market share eroding. Nike's efforts to revamp its strategy have shown some signs of progress, but the pace of change is slow. The departure of football star Kylian Mbappé, who joined Swiss brand On after 20 years with Nike, raises questions about the company's ability to retain top talent and maintain its market dominance. Analysts point to several factors contributing to Nike's struggles, including a focus on cost-cutting measures that have stifled innovation, oversupply of popular products, and challenges in China. The company has announced plans to reduce production and frequency of certain products, as well as make job cuts and savings worth $2.5 billion by 2031. While some analysts believe Nike will regain its footing, others are more pessimistic about the brand's future prospects. With younger generations increasingly questioning the value of Nike's products and image, the company faces a significant challenge in staying relevant in an ever-changing market.