Nike, long regarded as the world's largest sportswear brand, is struggling to maintain its dominance in the sports apparel market. The American company has been losing sales, customers and market share to competitors in recent years, putting pressure on its long-standing leadership position.
Named after the Greek goddess of victory, Nike is now pursuing a difficult turnaround plan to retain its market leadership. The challenge comes as the brand works to address the setbacks that have weakened its position in the market.
Nike faces pressure in the sportswear market
Nike's recent losses across sales, customers and market share signal a difficult period for the company. Its position as a leading global sportswear brand is no longer as secure as it once was, as competitors gain ground.
The company's turnaround effort is aimed at defending its place at the top of the sports apparel industry. Whether it can regain momentum will depend on how effectively it responds to the challenges it faces.
