Nike's C-Suite Shift

Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.

Today we have a series of executive changes and layoffs at Nike and a new trend report from StockX. Plus, Mallet London teams up with Reebok on a new sneaker capsule collection.

Let's get into it:

Several Nike Employees Say They Were Laid Off As the Company Announces Major C-Suite Design and Marketing Shifts

At least four Nike employees have taken to LinkedIn to share that they have recently been laid off from the company as the Swoosh unveils major C-suite changes across design and marketing.

According to the posts, the cuts occurred last week across talent and product management teams as well as in contracted roles like copywriting.

Changes at the top: Nike on Tuesday announced a slew of new leaderships shifts at the top level of the organization. Nike veteran John Hoke was named Nike’s new chief innovation officer and Martin Lotti was named Nike’s chief design officer. Nike also announced that Nicole Hubbard Graham is set to become the company’s new chief marketing officer, effective Jan. 2, 2024 as Nike’s current CMO Dirk-Jan “DJ” van Hameren retires.

In other executive changes, Nike also officially announced on Tuesday that it has named Amazon’s former head of fashion Muge Erdirik Dogan as its new chief technology officer.

Running-Inspired Shoes Ruled StockX in 2023

StockX delivered its quarterly “Big Facts” trend report, which offered a deep dive into the products and brands that shaped resale in 2023.

Sneakers with a running aesthetic were in favor in 2023 (three of the fastest-growing sneakers in 2023 on StockX all have running roots) and consumers also became increasingly interested in Adidas after the messy divorce with rapper-turned-designer Kanye West. And Ugg and Crocs — once scoffed at by sneakerheads — were also in high demand.

A look ahead: StockX merchandising director Drew Haines told FN that he’s confident running-inspired silhouettes will continue to perform in 2024, and that we’re in the early phase of a longer trend cycle.

Read more to hear about the standout styles in 2023 and what to expect in 2024.

Why Mallet’s New Sneaker Collab With Reebok Is the ‘Biggest Moment’ In Its History So Far

On Wednesday, Mallet London announced it has teamed up with Reebok on a new sneaker capsule collection inspired by the UK music scene in the ‘90s and 2000s.

According to the UK-based footwear brand, the capsule features two shoe styles that were prevalent on the streets of London during this pivotal time in music history – Reebok’s Workout Plus and Classic Leather sneakers.

The unexpected collaboration is the result of a chance meeting between Mallet London co-founder Tommy Mallet and Reebok executives. Mallet said that this collaboration is “the biggest moment in Mallet’s history so far.”

“To be collaborating with one of the giants of the sportswear industry in Reebok is a truly proud moment for myself and the brand,” he said. “Reebok was and still is a huge part of the UK music and garage scene, but not only that it was a uniform for me and my friends in the early 2000s and a huge part of my childhood. To be able to recreate the Workout Plus and Classic Leather with a Mallet touch is something I’ve dreamed of for years.”

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