Reinvigorating the swoosh
Although Nike is not an official Olympic or Paralympic sponsor, it wants its gritty adjacent campaign to speak to the 4 billion viewers expected to tune into broadcasts globally and sharpen its competitive edge in the tough sportswear market.
The brand reported in June that its fourth-quarter revenue dipped 2% to $12.6 billion, while full-year revenue was roughly flat at $51.4 billion. These lackluster results saw shares fall 23% in the last week of June, Nike’s biggest drop in over 20 years.
As in past Olympic tournaments, the brand will kit out several U.S. athletes across all sports. It will also provide outfits for the athletics teams of Canada, China, Kenya, Germany and Uganda at the Olympics, as well as for the basketball teams of China, France, Japan and Spain, and athletes in breaking—a new breakdancing event at the Paris Games—for Korea.
The brand teamed up with a notable landmark in Paris, the Centre Pompidou, for a two-week celebration of sport and culture during the event, interacting with some of the 15.3 million spectators on the ground.
“We’re back doing what we do best,” CEO John Donahoe told investors in June, “creating impactful storytelling and ultimately brand distinction in sport.”
