Nike Is Having a Really Bad Year
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- čas přidán 22. 07. 2024
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In this video we look at the difficulties facing Nike. Recently the company forecasted that their revenue would decline this year. So what's going on?
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0:00 - 2:21 Intro
2:22 - 4:37 Nike’s business model
4:38 - 7:22 Digital strategy
7:23 - 11:27 Pandemic boom
11:28 - 14:52 Lack of innovation
14:43 Future outlook - Krátké a kreslené filmy
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"why should I bother to read something nobody bothered to write"
no
Bahhhh... lame
Ugh. It takes a lot of time and effort to learn to be a youtube content creator, so here's something for rapidfire AI slop!
Shit sponsor, please choose a better sponsor, you're better than supporting AI grifters.
Over priced sweatshop merch.
With prices of hand stitched shoe
Exactly. If I'm paying $200 for a shoe. It better cost more than $10 to make...
@@NotKimiRaikkonenYeah, but they would rather make incredibly rich athletes even richer rather than provide life-changing jobs/wages to less privileged people. So they keep cost extremely low and pay out billions to rich celebrities/athletes.
Their net profit margin is barely 10%
Exactly
Today I learned Nike not only has one app, but four😂. Who the heck needs a sneaker app
I have 2 apps already. One is the main one with everything, the other is basically only for special edition stuff where i have yet to win the right to spend my money. 😂
The sort of people who sleep outside Nike stores and Footlocker to get limited editions.
So true. But fans will download such stupid apps
a lot of people use the sneaker app
It sounds bad but some people dabble in sneakers as a hobby. Let them enjoy themselves lol
Hoka also sponsored ironman events massively. So while Nike turned into a trendy teenager shoe, Hoka's image turned into professional athlets shoes
Don’t forget the basic nurse niche
Nike sponsors professional athletes though
Hokas are great for people that get sore feet easily, they are comfortable for every day use.
@@rmkensingtononly if you have a narrow toe box however. Hoka shoes suffer from that design wise.
Hola is the most comfortable shoes I've ever bought, I only buy those now for gym or for general walking
I haven’t even thought about buying a nike shoe in the last 5 years. All the major distance running shoe brands are much more comfortable, cheaper, and have way more high quality options. Nike has the Pegasus, which is a good shoe, but not nearly as comfortable as a good pair of Saucony’s or Brooks
100%. Heck, I ran through my whole pregnancy (I mean right up to 39 weeks) in Asics. I now understand why the brand is such a running staple. But beyond those ones I bought specifically for pregnancy, I'm pretty loyal to Saucony and before them, Under Armour was my go-to until they started really overengineering their shoes (like Nike and their desire to have us all run on pillows... 🙄).
Major brands are NOT selling shoes for cheaper. Cheap brands sell cheap products.
@@bnwo every running shoe brand makes cheaper shoes that are high quality than Nike. Nike sells shoes worth $50 for $200 and running shoe brands sell should worth $120 for $120. Nike shoe quality is laughable compared to brooks or any other shoe that actually focuses on quality
Talking about distance shoes but doesn’t mention the two best ones? Vapor and alphafly. Nike still on top
@@jonathoncalleija2926 those are $300 shoes that are basically only used by top level marathon runners. Most people would rather buy 3 pairs of brooks over 1 pair of vapor flys, especially if you are putting in serious miles because you’re supposed to replace your running shoes every 500 or so.
Nike got greedy increasing their prices 🥴🙄🤦♀️🤡
It’s not being greedy they just closed the gap. Companies use resale data to see what people are paying on third party sites like StockX or GOAT is people are willing to pay 50 above retail why not just charge that?
@@DeadAir21 because that breaks the market.... you cant restock all the time AND increase prices.
Their idea of Restock drops was also very stupid, you lose everyone that isnt on the app and they will lose interest in your product if they cant buy it on the normal market.
Just restock the shoes.
@@DeadAir21 it’s greed, they shouldn’t be looking at those fools reselling them for $1000s 🥴🙄🤦♀️🤡 they should focus on their real customers 🙄🤦♀️
@@DeadAir21 because that’s not their customer that’s why it’s hitting their sales and they know it but got greedy
I don't buy Nike because I walk a lot and go to the gym 3-5 times a week, and they just don't cut it for Cardio. My legs kept getting sore, then I switched to New Balance after a co worker recommended them to me, and my legs stopped getting sore, and after that, I just never bought another pair.
I love new balance too.
That's exactly what a bot would say;-!
It's because their shoes aren't designed for north American feet, their designed for Asian feet
@@bondobilly9369 Their shoes aren't designed for feet of any kind. They're designed for resellers to keep in the box.
I can tell you they aren’t designed for asian feet either. The quality has just gotten too shit.
Let’s hire the CEO of a company that hasn’t changed since 2003.
Also hiring an outsider tells me that your current company officers are a joke.
@@JB-yb4wnTo be fair: If you're issue is a lack of innovation then hiring somebody from outside makes a lot of sense.
@@Martin-jm8wi
Failing companies do that all the time.
I was thinking the same thing eBay has been losing a lot of money for a long time. Strange choice.
I love how the only ideas the tech industry stooges have now are 1) AI and 2) Intentionally make the product worse
Dont forget subscription plans and charging you for things that used to be free
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Good. They are the poster child for sweatshop operation and paying athletes for marketing instead of focusing their product quality. I hope a better company unseats them from their market leader position permanently.
They also treat their athletes especially the female athletes badly.
@@ninjagirl226 I am more concerned about the sweatshop labor and lifting these people out of poverty and consumers getting the best quality product for the best price. I guess you are more concerned about the pay the athletes get. To each their own but I respectfully do not want to associate with you.
@@enemyofYTemployees Ok so it’s ok to abuse athletes just like the people making the shoes. I’m sorry, but you are a hypocrite; I personally stand against abuse for all not just the few.
@@enemyofYTemployeesso nike should drop their sponsorships then, regardless of their gender? That way, instead of paying men a lot over women, they become an equal opportnunity sponsor by paying none of them.
Also, it's not a good idea giving a western salary to outsourced labor, unless they're high skilled. The factory will be a corruption magnet where they'll start gatekeeping potential workers and secret deals with the employer and worker where the employer pretends to give their workers a high salary only for them to pocket the difference and give their workers minimum wage in that country.
Something you missed. With the resale values of dunks and jordans over the years, the counterfeit replica market evolved. The replicas have gotten better quality then the real shoes. Lots of people got tired of spending $500 for a $110 sneaker, while it also had many defects. When the replicas look the same or better, why would you ever be loyal to nike as a customer.
sneaker lovers went to vintage. Not just Nike but all shoe companies are keeping their good apparel off amazon, the chinese companies moved in and the apparel is pretty quality. I'm 50 I know my fellow oldz. The hivemind group thought among old sports pfans is that MJ is an eternal gawd, but to GenZ and a lot of Millenials he's just a meme. MJ doesn't sell @#$% anymore.
I haven't owned Nikes in a hot minute. Also, the idea of buying something as fragile as sneakers as a 'collectible investment' never struck me as a good plan. Do shoes even hold their value against inflation?
depends on who you sell it to
if its hypebeast children, kinda
I can't remember the last time Nike came out with anything groundbreaking or innovative... it's time for them to focus more on R&D and give the market some NEW products.
you can only do so much, they might just be at their limit now especially with other companies coming in and being subsidized by china. same with apple, lots of phone companies are coming into the market now and phones look like they might be a their limit too.
Yeah where are the jet shoes and invisibility cloaks. Why doesn’t my sweater have AI in it
From my understanding Nike brand target customers are high class people and no longer low-middle class.
what are they supposed create? jet packs?
Truth. Air Jordans were a big deal. In the 1980s. That was looooong ago.
Overpriced Shoes!
Totally agree
That's not an answer to the question though
@@tomlxyz that's my opinion.
Almost all shoes are over priced aren’t they?
@pikachumega9854 Specially this Brand! You're paying for the brand name just like with Apple phones.
“In the fast paced athletic shoe industry”
Pun intended
Come on these types of sponsors are the worst
Dude. The content creator has to make money. Just fwd past the ad.
Pretty sure he took a sponsor from some sketchy gambling site a while back, too :/
@@echo_soldierThat one sounds like Yotta. I also know he took on Masterworks for a while, maybe right up to the point Plain Bagel blew the lid off of their scam.
@@skamithi so its ok to promote garbage and scams to your audience in order to make money??
Im surprised people even watch the sponsor segments. Ive been skipping them for well over 10 years.😂😂😂
Damn, how do you mess up with the sneaker market? While I disagree with the value people place in "collectible" sneakers, I feel Donahoe just didn't try to understand it when it's his job to do so.
Video on invideo AI fall down next?
give it a year or two
I can’t believe homie unironically took a sponsorship from them 😂
Wait for it to merge with a SPAC
Shoes are quite literally the last thing I would want to buy online, the hassle of constantly buying and returning shoes until i get a pair that fits is too much when i can just drive to nordstom rack or whatever and find something that fits the same day.
Same for me
This
See, the real cheapskate's way of buying shoes is to go to the store and find a model and size that fits just right, and then go home and order it online.
Look at any soccer team with Nike uniforms and you can instantly see how far Nike has fallen
I’m not even political but I stopped buying when their CEO or someone high up said “we don’t care about our customers for the last 20 years. We care about our customers for the next 20 years”
Once I heard that I felt they didn’t give an F about me so I stopped buying them for myself and my family.
I can’t be the only one.
Invideo AI sounds like it's directly involved in counterfeit content on CZcams
All ads are scams
@azizkash286 not all. Some are ponzi schemes. The ads offerred to small CZcamsrs are often negatively selected, meaning no one is clicking their normal ads and big celebrities get better offers
Nike is a middle tier shoe while money is being made on the lower and higher end markets
Another note from the running industry. They’ve got a really weak ground game. Tech reps for On are all over major cities working with community run groups around the country. Nike reps are still only visiting brick and mortar locations. We’re in the middle of a running boom and they’re not in a position to capitalize.
03:30 What you fail to explain is that wholesale does give a guaranteed orderflow, which helps smooth out revenue spikes and dips and helps guarantee order quantity at manufacterers. Yes, the margin is lower, but without them the business would be much more volatile.
Which is exactly what we're seeing with their market share and revenue. This is what a volatile Nike looks like. You'd think a guy being paid MILLIONS to run the company would know that...
@@CassandraY he knows what he is doing.
Pump stock with buzz words and promises to switch to a higher margin selling method.
Covid proves it’s possible if people didn’t want to go outside.
Collect check
Covid ends
Long term health is irrelevant when your paycheck for the next year is enough to set you up for life.
This is an issue with most publicly traded companies. Executives are rewarded to the tune of millions for short term gains.
Shoe stores are left w/ trash leftovers these days, and even at the nike stores there isn't much of a selection of the Nike shoes people want. people still want to try on shoes in a store.
I would never buy shoes online, I make sure they fit and are comfortable before I buy them. Them targeting 50% online sales is absurd.
Ooooh. Beanie Babies you can wear on your feet!
Is that a benefit to their long term value? Similar to the market for valuable classic cars. They were desirable when released and can often be sold for more than purchase price for a month or two, then slowly go down in value as more are produced and existing cars are worn out, or destroyed. After some amount of time the destruction process makes the remaining cars that much more desirable. Especially in like new condition. To the point where people put their cars on trailers to take them places instead of just driving. Now I want to see "coffee and shoes" classic shoe meetups In 30 years, instead of "cars and coffee" meetups 😂
As a semi-sneakerhead, Nike lost me by letting the reseller scum grab all the drops. At first, I would enter a raffle and if I didn't win I just wouldn't cop. Now I don't even bother entering and I'm not even checking for Nikes like that anymore outside of Dunks. NB 9060s and Puma RS-X lines have been grabbing all my attention.
Have you broken even or even turned a profit? I know well the feeling of commodity-i-zation. Outside the USA I raised chickens (organically at first, then using antibiotics since everybody does it and the birds gain weight faster) and barely broken even since raising meat birds is a commodity. Suspect it's the same with sneakers.
I did my first raffle for curry low dunks and won, it’s not that bad.
Nikes are overhyped overpriced trash. If someone says theyre a sneaker head it means they spend too much money on Nikes and Jordans and buy nothing else
@@raylopez99 I'm not a reseller, I just like sneakers a lot. I said semi-sneakerhead because I buy them to wear them not resell or display them. To your point though, I definitely have seen some resellers take huge Ls on Goat trying to sell sneakers they grabbed at retail price but weren't hyped enough to mark up for resale so they had to sell for under retail lmao.
@@good-tn9sr I'm sincerely glad for you (for real, being genuine). For me, entered too many and lost or went to buy stuff that sold out in one minute. Just not for me anymore, you know?
Asics are also great shoes in terms of comfort.
I could not agree more, like walking/running on pillows.
But they look bad af
Never had shoes, lasting longer…
@@AyjayAlleywayNoosa Tri disagrees
ASICS are the running shoes I used when I was in the Army
They really fucked up on MLB and the uniforms
Extremely badddd!!!! But I blame fanatics for that tho.
@@booneboone9705 Nike design it. Fanatics has been making them for years without issues.
@@letsgoOs1002 Fanatics.....without........issues........wut?
Recently had a stay in hospital for a few days, and fully half of the nurses were wearing Hokas. It's legit.
Its funny because I noticed in models and foot locker they didnt have a large selection of nike sneakers so I would up buying adidas. I havent bought a pair of Nikes in damn near 10 years
They don't make sports sneakers anymore- its all androgynous fashion foot wear. Their shoes are pointy like high heels. Over priced plastic that eventually crumbles 2-3 years later?.
I never bought a different shoe, other than a nike. But Nike leaves literally all stores, which makes them impossible to buy, since you can´t buy a shoe you can´t test fit first.
Jordan “retros” are made with the cheapest quality crap
There was no money left after they paid Jordan.
agree, the materials on the OGs, 4s just anything that are hype suck ass
Nike gave the power to resellers and in the long run hurt them...
I live in a relatively well-off leafy residential area London, England... The 'yummy mummies and their husbands in Gail's Bakery switched to On trainers around 2020... The yoga lovers and gym bunnies switched over in the last year or so.
Nike's heroes are not the heroes of the middle class; especially with Nike no longer having Federer or Woods.
Me? I only wear adidas and Clarks trainers.
mummy?
Yeah Nike I caught in the middle and there's better choices for middle tier prices
@@MrMadvillan It's British. They say mum instead of mom.
they should bring back the Internationalist ASAP.
Wtf did you say? Yummh mummy?
eBay is awful. I’m not surprised their ceo messed up Nike.
There has been a crazy trend of companies neglecting R&D and collapsing and its not new. Nike is just the latest, it goes as far back as GE focusing on stock prices over innovations.
Sure there was success in the short term, but ultimately they paid the price.
I didn't know why they hired a CEO that worked in tech as the CEO of nike. I mean, shouldn't companies hire CEO that knows their line of business...
Nike blew it when they pulled out of all the local shops and made you drive 20+ miles to a Nike store. No thanks Ill buy something local.
most useful sponsor advert ever lol
Using the platform to promote the thing destroying the platform.
What did it say? I skipped the first 2 mins, 20 seconds. (rhetorical)
Sellers on Ebay were happy to see Donahue leave.
Reason is simple: it’s impossible to find Nike shoes on shops, On and Hoka are everywhere.
Nike pushes too much direct sales to customers but, at least for me, I want to try them out first.
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Nike has been closing some of their stores as well as limiting sales to other retailers. I remember back in 2016 they had loads of 20% off sales and the family %30 off sale a few times a year. At one point they let amazon sell nike directly but later canceled the deal. Seems they are trying hard to artificially raise shoe prices. I don't get why they don't make more $35 shoe deals since it only cost them $8 a pair including shipping and import fees from Thailand/India
Because of Nike’s strong presence in the market they didn’t need Amazon to sell their product. Not to mention they didn’t want to sell their products alongside counterfeit retailers who were also selling fake Nike products around the same time.
Nike also wanted to be known as a premium brand so they cut ties with retailers who sold their products at a discount like JCPenney, and stopped running friends and family promos because they didn’t need the promo to move product.
@@DeadAir21 not everyone wants a $100 shoe though. They haven't made any new low end models in some time.
You know, maybe Buffet was on to something...
I have not bought a pair of nike's since the reissue of The Bruin, call it a nostalgic moment (circa '81 style).
As time moved on, I am now downsizing, and those shoes mean nothing to Me at this point.
NOTE: Though the Bruins are same style, the changes include the removal of the "canvas" around the base.
and the sole did not turn yellow, if You were around in the early '80's, You will know what I mean.
You really can't go back, not that I ever wanted too.
Class of '84.
On shows also hold up extremely well… have cushion and look new after a year of daily wear. It’s just a great shoe.
Uses to be my go to for work. After my last pair they fell apart and were super uncomfortable. Never again
So turning your business from a sportswear company to a Beanie Babies for Feet collectables brand is not a sustainable model? Shocking. Turning a useful tool into something you stick on a shelf to stare at relies on a fool that will pay you money in hopes a bigger fool will pay even more. Works until there are no more fools.
No wide shoes, the only genuinely cool wide shoe is the suade puma classic. As you get older, the wider it is, the more springbed it has. So i get like H width. But you cant even afford a custom Nike, its unusable.
The soles of shoes are trash now. I bought a pair of Adidas last year and within 4 months the soles were gone. Same with Nike. I’d buy shoes that had better soles over name brand
People are sick of the absurd price of the products.
It’s hard to price value equities of clothing/footwear brands because they rely on macro trends in fashion and pop culture. That seems to change quite rapidly compared to other industries.
Seems like Nike has dropped the ball. Thanks Donahoe. Oregon's pride is being dragged through the mud.
with everyone and their grandma shit talking nike, its almost time to buy
Yup. Of all the brands, no one has proven they can overcome the ups and downs of trends like Nike. There's obviously always a chance this is the downfall of all downfalls, but as Nike has shown from its history, it knows how to recover and rise again.
@@ZhangtheGreat Needs to drop a bit more
Great insight thanks, was wondering why their stock had tanked.
Was always more of an Adidas person myself though.
Yep. I wear nothing but Hoka and On now. I haven’t bought Nike in years. They’re just better than Nike.
It's surprising that there's a market for what some consider "ugly" shoes, and that people can profit from it. This phenomenon is reminiscent of the game "Blind Man's Bluff."
Consumers realize that the innovation and quality has gone away down. Why would anyone pay premium prices for a shoe that falls apart so easily?
Share of mind is not a substitute for market share. Some of us just go to the store and try on shoes to find the best one
The continuing decline in qaulity and functionality over the past decade is what pushed me away from Nike.
Perfect example of how most CEOs are not smarter than others. In fact most got to the top through career politics. Any idiot can figure out that before you cut the cord with retailers you make sure you already can outperform them and keep growing without them.
Quite honestly sick of the price tags they keep coming up witj. Nike used to be an affordable sports brand but now its carrying on like its a high end designer label. Also, the way its pushed up the price of football shirts from a respectable £40-45 to a crazy £85 for a budget version and £125 for the next version is just stupid. I can't buy my 9 year old son a full kit for less than £100 either and they change 3 kits every year. I think everyone now just realises
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Nike is facing an IBM/Xerox/Blockbuster type event. Let's hope they can navigate this smoothly.
Are you recording in a different location? There is an echo in this video's audio track
I have a feeling this is an AI generated voice using past video. There is an odd sound, not just the echo and some words are accented differently. If the next video sounds like this, I’m unsubscribing.
Maybe the takeaway is that after a weird market caused by the pandemic Nike is returning to a normal business model
At first it was about fashion and style, now all I care about is COMFORT and Nike is not it
I haven't worn Nike since the Cortez in 1983. I never liked wearing what "everyone" was wearing. So I stuck to Reebok, Adidas (until Run DMC blew up), and Puma (until LL Cool J blew up). I figured Nike's stock was inflated since the only people I heard talking about them were sneakerhead friends. When you focus on a niche and blow off the wider audience, this kinda thing happens (ain't that right, Bud Light?). It's relatively easy to continue to focus on the wider audience (where the bulk of your profit derives) while also trying to court niches (which is where Bud Light went wrong).
Nike's over dependance on Celebrity endorsements and less focus on Consumer's needs.
Really nice, very informative and understandable for the casual viewer of these topics.
When the casperdick stuff started, i burnt mine. Have not bought a pair since.
I thank Nike because they are one of the main reasons that sports shoes are so much better now than they were in the 1970s.
Quality, quality, quality. It ain't there for Nike anymore. Their materials are so far below their modern competition.
Higher prices and lower quality materials. Replaced leather with textile materials like mesh and molded plastics and foam beads. Jordan products have been lackluster in appearance, and the colorways are not what the consumers want. And if you want any of the shoes you have to compete to purchase and get the shoe. The final boss, UPS, and FedEx will lose ( steal) your order, which causes refunds and no repurchase.
The Pegasus 40 was the worst release in the daily trainer category.
Can I try on the shoes in-app?
As someone who truly loves a lot of Nike’s shoes. The amount of effort I have to put into buying a pair at any given time is ridiculous. Guess what, I’ll go spend my money elsewhere 😅
Well, maybe if they didn't do limited runs with their interesting sneakers that are all bought up by resellers, i would buy a lot of stuff from them.
Serves them right...That said, I do own some Air Jordans, but I noticed the glue they used was inferior and it delaminated on one pair. Had to buy another pair. Not that I love Nike but I found this particular model comfortable. Might consider the Swiss shoes if I see them at Macy's.
There are a handful of Nike/Jordan Brand shoes that fit my feet the best out of anything that I've tried. I buy only that stuff for casual wear. I do not buy from Nike for performance because other brands do it better. Performance clothes like shorts, I go with Under Armour or smaller brands now. If I'm buying shoes for performance, I'm looking at Asics for runners, Chinese brands like Li-Ning or Serious Player 1 for basketball, or smaller niche brands like Inov-8, Tyr, or Nobull for lifting/training shoes
When i think of Nikes i think of ghetto folks buying $200 sneakers they can't afford. My Hokas feel great and if they're good enough for my barber to stand in all day they're good enough for me. And they look cool.
"Eye on the prize" not the ball...
Decreasing product quality and an over-reliance on people buying their products simply due to the swoosh. I’ve bought some products (on sale) from Nike recently and have regretted them. Poorer quality materials and stitching from shirts I bought over a decade ago!
Brands like Asics and New Balance are currently wiping the floor with Nike in running in terms of quality and innovation. And disruptor brands like ON and Hoka are gaining traction as new cool brands. Nike is simply struggling to dominate now that the competition has caught up and is fierce.
Its good that nike is feeling competition imagine paying for a high price shoe but the shoe itself isnt worth the vlue because of its comfortabilty
Nike took the Comic Book approach. Oh no. 😅
Never had or owned a pair of Nikes in 40+ years. What did I miss? Was Puma always better?
I really have hard time surviving those robot voiced videos even while taking a shower. The quality of the videos overall is following the quality of everything else. Mass production with as little as possible investment and low quality.
Same thumbnails, same souless story that I'm listening for the 3rd time of the Nike's failed digitalisation push. I have broken much worse habits and yt is approaching my bullshit radar.
Nike used to innovate. Nike Air, Nike Shox, always something new and fresh. Now I think of Nike as a retro shoe brand. Churning out endless versions of shoes they introduced years ago. I think some of that is cool, but they also need to innovate.
should get kanye west as pitchman
They should get him to design for them and then hope he keeps his mouth shut lol.
Nikes problem was pandering to the resellers using bots and partnering with the reseller apps while keeping production low was slimy. You couldn't get the shoes you wanted because bots got them all for resale. No reselllers are losing tons because Nike actually makes enough availability so the people who want them can get them instead of an artificial bubble.
I had the same style Nike shoes Kyle Reese wore in movie Terminator. Only shoes I ever loved. I miss you shoes.
The China well is drying g up. China is using Nike technology to turn out shoes that are the same quality at half the price. Most Chinese prefer the cheaper domestic product at the much lower cost.
I liked Nike back in 1982 when I bought my first pair after I graduated from boot camp.
On one hand, I'm interested in this channel's content - on the other hand, I feel like I am promoting the worst sponsors ever. Sponsor propagating more mindless AI generated content? YES! MORE OF THAT PLEASE!!
Nike needs to come out with a killer Ad campaign during the Olympics to reinvigorate the brand.