Trends change, new generations emerge, and fashion evolves. But the one constant in the apparel game has been Nike.
Back in the early to mid 2000s, Abercrombie and oversized FUBU velour sweatsuits (don’t judge me) were the “it” brands, but now activewear is all the rage.
According to a survey conducted by investment bank Piper Jaffray, 27 percent of teens in upper income households say that Nike is their preferred clothing brand. Coming in a distant second is Forever 21 at seven percent. Even when it comes to average income households, 21 percent of teens still choose the Swoosh.
It should come as no surprise that the footwear and clothing giant, founded in 1964 as Blue Ribbon Sports and changed to Nike in 1971, makes more money than Macy’s and the shared parent company of Marshalls and HomeGoods.
It seems like Nike understands the success and influence it holds in pop culture and is ready to push the envelope even further. The brand recently announced a $50 billion sales goal by the end of fiscal year 2020 during Investor Day. With the burgeoning of sub brands like Jordan, and the continued success of Kobe Bryant’s signature line of sneakers, it’s not hard to fathom.
Nike is ready to knock down other doors as well with the announcement of a partnership with DreamWorks. The partnership will help Nike’s continued efforts of building a 3D digital design system to transform its product creation process.
