Consumer
Nike Bets on Olympic Spending Spree to Revive Slumping Sales
- Founder Knight calls on athletes to reignite “the want to win”
- Company has largest number of athlete sponsorships among peers
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Nike Inc. is spending more than ever on marketing around the Olympics in a global advertising blitz as it tries to reinvigorate sales and spark a comeback for the world’s largest sportswear company.
Executives have called on their top stars for help at the 2024 Summer Games in Paris, which held its opening ceremony last week. Nike co-founder Phil Knight made a rare plea to the “Nike Family” of athletes and coaches a week ahead of the games, encouraging them to “reignite the passion, desire, and the want to win.”