Report: Nike in big retail shakeup
Nike Inc. is shaking things up in a way that will have a direct impact on its retail partners.
Speaking on Wednesday at Nike's annual Investor Day event, CEO Mark Parker said the company plans to shrink the number of retailers it works with from 30,000 globally to just 40, reported Portland Business Journal. The company did not release the roster of the 40 select retail partners.
Nike's is betting on its "Triple Double Strategy" for future growth. It emphasizes increasing the speed of product creation, manufacturing and delivery across all areas of the business, from product to mobile customer experience, the report said. Key to the strategy is a renewed focus on direct-to-consumer retail, either selling directly to its customers online or in its own brick-and-mortar stores.
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Speaking on Wednesday at Nike's annual Investor Day event, CEO Mark Parker said the company plans to shrink the number of retailers it works with from 30,000 globally to just 40, reported Portland Business Journal. The company did not release the roster of the 40 select retail partners.
Nike's is betting on its "Triple Double Strategy" for future growth. It emphasizes increasing the speed of product creation, manufacturing and delivery across all areas of the business, from product to mobile customer experience, the report said. Key to the strategy is a renewed focus on direct-to-consumer retail, either selling directly to its customers online or in its own brick-and-mortar stores.
Click here to read more.