Nike To Invest Heavily In Digital

Sportswear giant Nike has outlined its plans for the future, forecasting that over 50 percent of its sales will be made from the digital space.

The world is slowly moving into the the digital era and many companies along with it. Nike, the well-known outfit designer, couldn’t be an exception to this rule, with the company already making public the ways that they’re planning to move forward.

Nike plans to develop their own independent studios and integrate them with RTFKT, the digital company in which they invested last year, in order to create a native studio which will allow them to transfer their products from Web2 to Web3 on a massive scale.

Last November, John Donahue, Nike’s CEO, announced their initial involvement in the Metaverse via the creation of a Roblox title called NIKELAND, through which players also had access to purchase their goods.

According to Donahue, the company’s SNKRS app has been highly successful, seeing a 50 percent rise in sales figures during the second quarter of the current financial year. While that may have largely been accredited to the pandemic, there’s no reason to believe that the trend will not continue, with Nike firmly believing that its customers will rely heavily on the app for their purchases in the future.

Additionally, Nike has seen a great turnover in its investments within female sports, as women’s sales accounted for over 24 percent of the company’s entire revenue in the previous year (2021.) Nike was also the greatest investor in the Women’s NBA, valuing the company at around US$1 billion.

In its yearly projections, the US-based firm showed that it is in a good position, outlining a 5 percent increase in year-to-year revenue for the third quarter of 2022.




Please login with linkedin to comment

metaverse Nike

Latest News

Allied Nabs Nicola Gold From Pico International Dubai
  • Advertising

Allied Nabs Nicola Gold From Pico International Dubai

Allied Global Marketing (Allied), a full-service integrated marketing agency working with entertainment, consumer and lifestyle brands, has announced the appointment of seasoned executive Nicola Gold as business director APAC, brand experience, effective immediately. Gold assumes a pivotal role in building the Brand Experience offering as part of Allied’s strategy to develop a truly integrated full-service […]

“Be Like A Skunk At A Garden Party”: Author Patrick Radden Keefe On Investigating Pharma
  • Marketing

“Be Like A Skunk At A Garden Party”: Author Patrick Radden Keefe On Investigating Pharma

Patrick Radden Keefe (pictured), author of global bestseller, Empire of Pain, talked to B&T‘s Nancy Hromin at the Samsung Jaipur Literary Festival about reputation laundering, aggressive marketing strategies and the privilege of still being able to practice pure journalism and be paid for it. Keefe’s in-depth reporting in publications such as The New Yorker and […]