Nike CEO John Donahoe acknowledged that the brand went too far when it iced out wholesalers like Macy’s and DSW in favor of its own stores and website.
Nike CEO John Donahoe acknowledged that the brand went too far when it iced out wholesalers in favor of its own stores and website.
The sneaker giant has been working to drive direct sales but has recently renewed partnerships with wholesalers like Macy's and DSW."We recognize that in our movement toward digital, we had over rotated away from wholesale a little more than we intended," Donahoe told CNBC'sfrom Paris. "We've corrected that. We're investing heavily with our retail partners. They were all here over the last couple of days; they're very excited about the innovation pipeline.
On top of that, department stores and specialty shops are massive customer acquisition engines. Without them, brands have to spend more on marketing, which has become more expensive and challenging to do online.. They argued it set the company back and is part of the reason why it fell behind on innovation and products. It also had a negative impact on, which has long relied on Nike to drive sales and now doesn't receive the same assortment of products that it once did.
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