Why research Nike?
Getting Nike logo as a customer on your website is a prized possession for many a sales person. If you’re in supply chain or procurement tech, you should be selling to Nike. The company is always looking for new and innovative ways to streamline its operations, and it has a history of working with cutting-edge suppliers. If you have a technology that can help Nike save time or money, there’s a good chance the company will be interested.
Naturally, SDRs, BDRs and AEs in such industries for whom Nike is a target account, research the company including its quarterly or annual earnings, 10K / 10Q, press news, job listings and other information before doing the outreach.
Who should research Nike?
Nike’s scale of operations make it a good fit for many B2B products. But, you should research Nike if you are:
- a product that looks into the supply-chain AI and efficiency
- procurement intelligence
If you are an SDR for one of these products, you need insights from Nike’s strategies that show the efficiency of your product. B2Brain’s machine learning has compiled these highlights from Nike’s Annual Reports, Press Releases (and other sources) that can significantly improve your pitch.
Sourcing and Procurement insights about Nike
Nike is making changes to its product assortment and inventory as it expects delays in supplies for the next few quarters. Sourcing and procurement solutions that seamlessly work with inventory management might be relevant for Nike to explore as it works to keep pace with consumer demand.
- In the upcoming first quarter, Nike expects revenue growth to be “flat to slightly up,” with gross margin pressure exceeding 100 basis points (1 percentage point) as the company attempts to recalibrate supply and demand in Greater China, and anticipates higher promotional activity to sell seasonal inventory.
- Inventories totaled $8.4 billion, up 23 percent compared to the prior year period of $6.9 billion. The increased was driven by elevated in-transit inventories due to extended lead times from ongoing supply chain disruptions, partially offset by strong consumer demand.
- For product entering North America, average lead times (counted by day) remain in “the low 80s,” according to Friend, who said transit times are still two weeks longer in the fourth quarter relative to last year.
- Nike said that inventory supply is normalizing across North America, EMEA, Asia Pacific and Latin America. This is a good sign for Nike, which saw three consecutive quarters where consumer demand significantly outpaced available supply.
Logistics and Supply-Chain insights about Nike
Nike ranks as the most valuable apparel brand with increased consumer demand for sportswear. They will look to maintain business efficiency in their supply chain in order to retain this position.
Nike is getting impacted by ongoing supply chain constraints and higher logistics costs. They continue to make strategic technology investments indicating an intention to build digital leadership.Supply chain and logistics solutions that can bring greater efficiency to their operations might be relevant for Nike to consider at this stage.
Some updates on Nike’s supply-chain and logistics strategy:
- FY22 Q4 Combined NIKE Press Release Schedules
- Gross margin decreased 80 basis points to 45.0 percent, primarily due to higher inventory obsolescence reserves in Greater China and elevated freight and logistics costs.
- Operating overhead expense increased 11 percent to $11.0 billion due to higher strategic technology investments, and an increase in wage-related expenses and NIKE Direct variable costs.
- Inventories for NIKE, Inc. were $8.4 billion, up 23 percent compared to the prior year period, driven by elevated in-transit inventories due to extended lead times from ongoing supply chain disruptions, partially offset by strong consumer demand.
- Nike retains title as world’s most valuable apparel brand
- Nike has retained the top spot as the most valuable apparel brand in the ranking since the rankings were instituted, according to a new report from leading global brand consultancy, Brand Finance.
- Smaller sportswear brands are amongst the fastest growing brands in the ranking with Skechers (brand value up 68% to $3.2 billion) and Li Ning (brand value also up 68% to $2.0 billion).
Want more Nike insights tailored to your product?
To get to the perfect pitch, insights are not enough. And to convert a prospect, you need a lot more. You need latest insights, the right decision-makers and their contact info, talking points that help your product be relevant. B2Brain delivers all of this (and more) in a neatly packed format right to your CRM.
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This bodes the question – why only Nike? Why not research Ralph Lauren, Levi’s Tommy Hilfiger and other national apparel retailers? Try them all from here.