Nikola Jokic, the reigning Finals MVP, has left Nike after spending his entire career with the company and has signed a multi-year signature shoe deal with the Chinese brand 361. Despite winning two NBA MVP awards, Jokic never received a signature shoe from Nike, which had prepared an entire campaign around him. Nike, which recently reported earnings, has seen a 4% year-over-year revenue decline in North America and is facing competition from new players like On. The company is now looking to implement cost savings of up to $2 billion, including staff cuts and a simplified product mix.
China’s biggest sports brands have ridden a wave of nationalistic fervor for years as Western rivals faltered. Now, the homegrown giants are stumbling, having overestimated demand and misjudged a consumer spending slowdown. @caocli https://t.co/ubicRcXhKX https://t.co/ubicRcXhKX
The long-vaunted revival in Chinese travel to Europe may not materialize for a while, @AndreaFelsted writes. That spells trouble for the luxury industry https://t.co/r7YshczbWj via @opinion
Nikola Jokić has left Nike in favor of a multiyear deal with Chinese brand 361 Degrees. Nike is also looking to reduce $2 billion in costs over the next three years, with staff cuts and a simplified product mix among the targeted areas.
Legacy Brands are In Decline: Nike is down after reporting earnings. Consider that Nike’s YOY revenue *declined* 4% in North America. The business is giving ground to new players like On. And China has its own version of Nike. Nike transitioning to a Value stock. https://t.co/LG9Lhc4Efj
Nike reported China sales that fell short of market expectations and said it’s looking for up to $2 billion in cost savings amid streamlining efforts https://t.co/jKLSlzllih
Aaron Gordon last season: “I think Big Honey should get his own shoe.” Now they’re both with 361. https://t.co/Sf9uT7oiTV
GT Hustle 2 "Christmas" ⏩ LeBron 21 Duke Blue Devils Black PE ⏩ T-Mac Millennium "13 in 35" ⏩ 361 Big3 Future High (worn by Jokic) ⏩ Kobe AD "Oregon" ⏩ Curry 11 "Birthday" PE ⏩ Kobe 9 EM "Dusty Cactus" ⏩ Gatorade x PG 4 "Grape" ⏩ TWO WXY v4 Aaron Nesmith PE #NBAKicks https://t.co/9FlmeVkeqc
Nikola Jokić is leaving #Nike and has signed a multi-year signature shoe deal with 361 Degrees (Chinese brand) 🏀 Jokić spent his entire career with Nike but never got a signature shoe despite winning two NBA MVP awards. Read more ⬇️ https://t.co/3CGalSPtXX
Nikola Jokic ditches Nike, signs with 361 #361 #Nike #NikolaJokic https://t.co/pYir8b85Bb
Nike prepared an entire campaign around Jokic only for bro to leave them in a couple of months😂 https://t.co/VHnxGKy4nm
Nikola Jokic signed a multi-year signature shoe deal with 361, per @NickDePaula. https://t.co/faBCcSKHXs
OFFICIAL: Reigning Finals MVP Nikola Jokic has signed a multi-year signature shoe deal with 361. 📄✍️ The Joker will become a leading global face of the Chinese brand. https://t.co/bCWHwoxZ97