Nike Forced the Head of Basketball to Resign and Here's Why
In an act of desperation, Nike forced Michael Jackson, former VP and General Manager of Global Basketball, to resign for a few key reasons after only holding the position for two years.
The quick decision stemmed from Footlocker expressing lots of challenges when it came to selling LeBron James and Kevin Durant's Nike signatures coupled with a significant gain in Stephen Curry's Under Armour shoes. Price point played a strong factor as Nike signatures were fetching for $200 - $300 and Curry's are only $130.
According to an NPD Group report, Stephen Curry and Under Armour are the only major brand to show growth in Basketball sales this year.
Craig Zanon has been tapped to become the Vice President and General Manager of Global Basketball for Nike. He has 27 years of experience at the brand and was previously overseeing Nike's Training categories.
The Nike KD 9 comes pack with more technology than ever and significantly cheaper than most Basketball signatures in a long while at $150. Could this be the start of rebuilding Nike Basketball? Hopefully, but the road won't be easy if Stephen Curry wins another title against LeBron James.
Source: The Street