Sneaker News If you’re an Air Force 1 fan, better start stocking up now (white Air Force 1s are available here). In Nike’s fiscal 2024 Third quarter conference call, CFO Matt Friend confirmed that Nike would be “pulling back supply of classics such as the Air Force 1” as a response to the brand’s focus on pushing innovation and newness further.
In the last earnings call, Nike recognized the oversaturation of some Retro product, with many once-coveted icons ending up on sales racks. Combined with the consumer’s response to new products, Nike is choosing to pull back these products, which likely include the Dunk in addition to the Air Force 1. See the full excerpt from the earnings call below to give you better context surrounding this decision.
Third, we are in the midst of shifting our product portfolio toward newness and innovation. Last quarter, we spoke of our intentional actions to reduce marketplace supply of certain key franchises to ensure they remain healthy and strong, while seeding and scaling new products. Given the way consumers are responding to our newest product journeys, even amidst a more promotional environment, we have decided to accelerate our actions. For example, we are pulling back supply of classics such as the Air Force 1; and we are reducing supply of Pegasus ahead of launching new innovation in the Pegasus 41. – Nike CFO Matthew Friend.
Nike’s calling card is still innovation and marketing, and the overall positive response to the Air Max Dn is proof that their strategies can have the right impacts. Nike confirms that more than 4,000 physical stores will carry Nike Dn product during the launch on Air Max Day 2024.
See more Sneaker News in your Google results,
ADD TO PREFERRED SOURCES
Love Sneaker News? Make us a Preferred Source on Google to see more of our stories in your search results. It only takes a click.
