Nike has a lot riding on how it shows up at the Olympic Games Paris 2024. It must revive sluggish sales and restore its declining brand value as competitors like Adidas and upstart apparel company On try to snatch market share.
The star ambassadors that defined its golden age, like Serena Williams and Tiger Woods, have either retired from their sports or moved on from Nike. And while Nike has signed new partners like WNBA star Caitlin Clark, competitors are also proving adept at forging partnerships with the next generation of star athletes. Adidas has English soccer star Jude Bellingham, and On has a deal with the world’s No. 1 women’s singles tennis player, Iga Natalia Świątek.
“There’s been a generational shift that hasn’t been kind to Nike,” a former senior Nike employee said. “A lot of generational talent of 2024 are not wearing the swoosh.”
ADWEEK spoke with six people who are either former Nike executives or worked closely with the brand, as well as other marketing experts, to paint a picture of how Nike can regain the edge that defined its brand for so long.
A complete marketing transformation
Nike, which appointed Nicole Hubbard Graham as CMO earlier this year, has further transformed its marketing division to support a major strategy shift.
The company has confirmed with ADWEEK that it is once again separating its design and storytelling units, which had merged in 2020. This underscores how brand storytelling has again become a singular focus for Nike.
Nike has also confirmed it has brought back Enrico Balleri to its world headquarters in Beaverton, Ore., as vice president and creative director of global brand voice to elevate its storytelling. Balleri is a 20-year Nike marketing maverick who oversaw lauded campaigns including “Write the Future” for the 2010 World Cup. But since 2021, after Nike’s digital-first pivot, he’d been in a regional job in Milan, Italy, sources said.
Starting the race
Nike’s new Olympics campaign marks a major shift in attitude, marketing experts say. The spot depicts elite athletes in the height of competition, against actor Willem Dafoe’s voiceover: “I’m single-minded. I’m deceptive. I’m obsessive. I’m selfish. Does that make me a bad person?” The ad ends with a tagline in bright red font, which was also controversial because it extols victory over decorum: “Winning isn’t for everyone.”
