Nike Facing Major Backlash
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Let’s be real for a second: nobody wants to keep a trunk full of different running shoes just to switch up their route. You want to step out your front
The sportswear giant got lapped by competitors like New Balance, On, and Hoka. Now Nike is racing to catch up.
Oregon teachers and Asian garment workers have launched a campaign demanding Nike pay higher state taxes and better factory wages. “We’re done with you making billions off our backs,” says a Sri Lankan garment worker in a roughly 90-second video posted on social media that demands a contract with Nike for “fair wages and fully funded schools.
Nike stock drops 76% from its 2021 peak, hitting decade lows. Insiders buy millions as China sales and Converse revenue weigh on recovery hopes.
Walking-focused footwear brand Ecco has launched a Boston-wide activation “celebrating every way people take on the 26.2,” to build on the walking conversation a Nike Boston Marathon ad sparked last week, according to an Ecco statement.
Nike insiders recently made big purchases of shares. The news provided a short-term boost to the stock price. The iconic shoe maker is still trying to complete its turnaround. Together, these purchases have provided a short-term boost to Nike's stock price.
Nike faced backlash over an ad for the Boston Marathon, with runners criticizing the "Walkers tolerated" sign. It has since been taken down.