For decades, Nike dominated the global athletic footwear market. However, the company is now facing one of the most difficult periods in its history.
Nike’s global market share has declined for three consecutive years, while its stock price and market value have fallen sharply from its pandemic-era highs. In the United States, the company is also facing investigations due to its diversity, equity, and inclusion (DEI) practices.
In the global market, Nike is struggling to solve mounting pressure in China.
A Global Giant Under Pressure
The company’s market struggles have also been reflected on Wall Street. On May 15, Nike shares fell to $41.88, its lowest level since 2014. The stock has lost more than 75 percent of its value from its 2021 peak of $174.88, erasing hundreds of billions of dollars in market capitalization and reducing the company’s value from nearly $300 billion to about $62 billion….