SWOT Analysis Of Nike (Top 6 Competitors Include)

Nike Company Overview

The Nike Corporation is a world-renowned multinational corporation and leading designer, developer, and marketer of sports apparel, footwear, and equipment.

Headquartered in Beaverton, Oregon, Nike serves global markets with its innovative products.

Founded in 1964 by Bill Bowerman and Phil Knight as Blue Ribbon Sports (BRS), the company’s first shoe was called the Cortez.

In 1971 BRS changed its name to Nike after the Greek goddess of victory.

Today, Nike has grown into a conglomerate of subsidiaries and brands, including Converse Inc., Jordan Brand, Hurley International LLC, NIKE Golf, and Cole Haan.

The company also has a diverse portfolio that includes apparel for all ages, from babies to adults, and sports gear such as footballs, basketballs, hockey sticks, and ice skates.

Additionally, Nike collaborates with several high-profile athletes to create exclusive collections or signature shoes tailored to each athlete’s unique style.

Nike’s Business Model

Nike is a multinational corporation that designs, develops, manufactures, and sells athletic footwear, apparel, accessories, and services.

The company’s business model focuses on creating innovative products that meet the needs of athletes around the world.

Nike utilizes a multi-distribution system wherein they sell their products through a variety of large retail stores, specialty retailers, and online.

By utilizing multiple channels for sales, Nike can reach many customers and provide them with access to its products.

Nike also relies heavily on its marketing campaigns to increase consumer product awareness.

The company sponsors numerous athletes and events annually to boost product visibility.

Finally, Nike has diversified its revenue streams by expanding into apparel and accessories beyond footwear.

With this wide range of offerings, they can meet the demands of virtually any customer looking for quality athletic gear.

How Does Nike Make Money?

Nike Inc. makes money by selling sneakers, apparel, equipment, and services, primarily footwear, apparel, and accessories.

Nike’s core business model is based on product innovation, brand recognition, and pricing strategy.

In addition to its core wholesale businesses of selling shoes and apparel to retailers worldwide, Nike produces and sells products directly to consumers through its stores and digital retail channels, such as its branded app and website.

Other sources of income for Nike include licensing deals with sports teams and event sponsorships that use its iconic brand name.

Additionally, Nike has an expansive portfolio of investments in startups aimed at keeping abreast of emerging trends in the industry.

The company also earns royalty fees paid by licensees for using Nike trademark logos on their products.

SWOT Analysis Of Nike 2023

In 2023, Nike is poised to remain one of the biggest sports apparel and footwear brands.

The company has established itself as a reliable brand with innovative products, competitive pricing strategies, and global distribution networks.

While the competition continues to grow and evolve, here is a look at how Nike’s strengths, weaknesses, opportunities, and threats (SWOT) analysis could shape the future of their business in 2023:

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In 2023, Nike is poised to remain one of the biggest sports apparel and footwear brands.

The company has established itself as a reliable brand with innovative products, competitive pricing strategies, and global distribution networks.

While the competition continues to grow and evolve, here is a look at how Nike’s strengths, weaknesses, opportunities, and threats (SWOT) analysis could shape the future of their business in 2023:


  • Recognizable Brand – Nike is one of the most recognizable brands in the world. This gives them an advantage when marketing their products because people are already familiar with their names.
  • Innovative Products – Nike has been able to stay ahead of its competitors by creating new product lines every year that focus on comfort, technology, style, and performance.
  • Global Distribution – Over time, Nike has established an extensive network of international distributors, which allows them to ship products to customers worldwide quickly and efficiently.


  • Expensive Pricing – Although Nike offers quality products for a relatively fair price point compared to its competitors, its prices are still subject to inflation due to economic conditions outside of its control.
  • Dependence On Athlete Endorsements – Many big-name athletes endorsed by Nike have lost popularity over time or had negative public attention, which can impact Nike’s reputation.


  • New Markets – There are many potential markets worldwide where Nike could penetrate with its existing product line or expand into new categories like health & wellness or even lifestyle fashion items.
  • Online Distribution –The growth of eCommerce opens up opportunities for Nike’s distribution model as they can reach consumers directly by providing an online store experience tailored to different markets globally.
  • Technology Integration – There are ample opportunities for enhanced technology integration into product design and marketing efforts, such as AI-powered campaigns or mobile app development that ties into loyalty programs, etc.…


  1. Competition from Other Sportswear Companies – As more companies enter the market, there is increased competition for market share within each country that could put pressure on pricing models or erode profitability altogether, depending on how it plays out.
  2. Issues From Suppliers/Manufacturers-Working with suppliers from overseas could present certain challenges due to fluctuating costs or production delays which can negatively affect product availability at retail outlets both online & offline.

Nike’s Networth 2023

According to reports, Nike, the world’s leading sports brand, is projected to be worth around $127.2 billion by 2023.

This figure will be due to a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2018 to 2023.

Nike’s net worth has been boosted in recent years thanks to its increasing revenue from apparel, footwear, and equipment sales which are spread across multiple channels – both online and offline.

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The company has also seen a rise in profits due to cost-cutting measures and increased efficiency in its supply chain operations.

Additionally, Nike’s investments in new technologies, such as predictive analytics, have helped the company stay ahead of its competitors.

Looking forward, Nike can expect strong demand for its products and services as consumers continue seeking performance-enhancing gear and stylish designs and trends that cater to their needs.

With all this potential for sustained growth and success, it isn’t any wonder why experts have predicted that by 2023, Nike will be worth almost double what it was just five years ago!

What are Nike’s Competitors in 2023?

In 2023, Nike will have a handful of notable competitors in the athletic apparel and footwear industry. Companies like Adidas, Reebok, and Under Armour are all expected to give Nike a run for its money.

However, several up-and-coming brands could threaten Nike in the coming years.

Here’s a look at some of the most promising companies that could challenge Nike in the years to come.

1) Adidas

Adidas is a global leader in the world of sportswear and athletic performance. Founded in Germany in 1949, Adidas has long been associated with activities ranging from football to running, basketball to skateboarding.

The company’s innovative technologies and design have helped create some of the most popular sports shoes, apparel, and accessories available today.

With its forward-thinking strategy, it’s no surprise that Adidas continues to dominate the sportswear industry.

From athletes looking for the perfect pieces for their next competition to everyday consumers searching for stylish outdoor wear, Adidas offers something for everyone—proof of its enduring popularity and commitment to creating clothing that stands out through quality and performance.

2) Puma

The Puma is a wild cat found in the Americas, Africa, and Eurasia. It is related to other cats, such as cheetahs and leopards, but unique in its own right.

Noted for its agility and grace, the puma can quickly leap across great distances and scale trees.

In terms of body size, it is the fourth largest among cats, although its long legs can make it appear bigger than it is.

It also boasts a plush fur coat in colors ranging from brownish-gray to vibrant tan that help it blend into quiet places in its environment.

Truly an exquisite predator, the Puma exhibits intelligence and adaptability, allowing it to survive in changing landscapes.

3) Under Armour

Under Armour is a premier brand for athletes of all levels. From world-class professionals to weekend warriors, Under Armour’s clothing and shoes are designed to be lightweight, flexible, and protective so you can compete at your best.

The fabric technology of the company sets it apart from other brands by moving moisture away from your body and allowing for more airflow.

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It also ensures that you stay dry and comfortable in the grip of competition, no matter the temperature.

With boots designed for traction on diverse surfaces, there’s an Under Armour product to fit any athlete’s needs. Now you can face any challenge with confidence and style.

4) New Balance

New Balance has been a leader in the footwear industry for decades.

Founded in 1906 as a maker of arch supports, New Balance has come a long way. It now delivers pioneering products like its Fresh Foam technology, revolutionizing the running world and providing unparalleled comfort and superior cushioning.

Not solely focused on performance footwear, the brand creates lifestyle sneakers and dress shoes.

Its durable quality and comfortable styles provide a unique solution to consumers looking for both form and function, no matter what they wear or where they go.

With over 99 years of experience, New Balance stands apart from other major brands and continues to stay on trend.

5) Asics

Asics is a well-known Japanese brand of sports and fitness clothing and footwear. They are dedicated to innovating excellence in sportswear, whether for professional or amateur athletes.

Through innovative technology, attention to detail, and research in the latest fabrics, Asics provide quality products that help user perform to their maximum potential.

Their mission is to enable athletes of all abilities to unlock their true potential through expert design and craftsmanship.

Due to its long-standing dedication and innovation in the market, Asics has become one of the top brands in performance sports.

From running shoes, sports apparel, equipment, and accessories, Asics strives for excellence in its industry and enables individuals from all walks of life to reach their peak athleticism.

6) Mizuno

Mizuno is a popular sporting goods brand known for its cutting-edge design and high-performance gear.

Whether it be running shoes, golf clubs, or baseball bats, Mizuno has something for just about any athlete.

Their products blend style and comfort from classic Wave Rider running shoes to the Ionic Volleyball shoe.

They are aesthetically pleasing and built with the latest in advanced material technology to ensure durability and reduce fatigue.

Performance is of utmost importance to the brand, which is why it’s trusted by amateur and professional athletes worldwide.

In the world of sneakers, a few brands stand out above the rest. Adidas, Puma, Under Armour, New Balance, Asics, and Mizuno are all leaders in the industry, each with its unique style and target market.

When choosing the right sneaker brand, you must consider what you value most in a shoe.

Do you need something durable for running?

A trendy sneaker to show off your style?

Or maybe you’re looking for an affordable option to get still the job done. Whatever your needs, one of these six brands will surely have the perfect sneaker.