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Nike’s sales chalk up, while the brand keeps up with supply chain disruptions

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Nike sales have increased by 16% in its latest monetary quarter, while direct sales were up 28% to $4.7 billion. The digital sales of the brand chalked up by almost 30%. Nike enjoyed boosting sales from the sportswear category as well, with net income rising 23% from last year. Nonetheless, leaders essentially tempered their assumptions for the full monetary year ahead on account of supply chain network disturbances that include COVID-19-related manufacturing plant closures in Vietnam and Indonesia.

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Consumer Goods industry will surpass $15T globally by 2025. However the old business model of mass distribution is about to become obsolete. Digital Transformation, Millennials and Gen Z effect, Direct to Consumer and Post-Covid World are going to reshape the winning formula for the new era CG industry. Our weekly newsletter covers global innovations and disruptions in CG industry.

ConsumerGeniuses is managed by IndustryGeniuses (A place where industries meet innovation). We are rolling out content platforms for the world’s hottest industries such as Food & Grocery Retail, Consumer Goods and Healthcare. For each of these key industries, we support Tech Startups and Industry Disruptors as they roll out next generation digital initiatives.

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