'80s vibes only
Swoosh swoosh... Despite a global crisis, Nike was its own Most Improved Player last quarter. Sales slipped less than 1% compared to last year and profit actually increased. That's a big glow up from June, when Nike posted a loss and 38% sales plunge. Nike's stock is up 8% in the last week on the performance.
The OGs are the real MVPs... What fascinated us most: Nike is cashing in big on its vintage shoe styles. Whenever there's a slump, Nike can fall back on its trusty OGs. That's a major advantage that iconic brands have over newer players (no one wants Lululemon's 2001 leggings).
Nostalgia is one of the greatest marketing weapons... especially during hard times. Nostalgic products evoke a sense of comfort, reminding us of better times. Plus: they don't require much experimenting or creative work. Demand is clear, making a flop much less likely. And it extends beyond just fashion: