Adidas is set to capitalize on its competitor Nike's recent surprising drop in annual sales, triggering a sharp decline in its stock price by up to 20%, according to Reuters.
Nike's recent struggles contrast sharply with Adidas' success, particularly with its popular low-rise Samba and Gazelle sneakers. These products have resonated well in the market, contributing to Adidas' projected strong second-quarter sales and its highest profit margin in three years.
READ MORE : Nike to Launch $100 Sneaker Line After Surprise Drop in Sales Sends Shares Plummeting to Worst Day on Record
Drake x Nike Collaboration
For years, Nike has explored strategies to regain momentum in the competitive sportswear market. One of these strategies involves collaborations with celebrities.
Through his partnership with Nike under the NOCTA sublabel, Drake has been a great figure in the brand's recent efforts. Launched in 2022, NOCTA has focused on producing sneakers and apparel designed for major life moments, garnering attention and sales in the competitive sportswear market.
Drake's involvement with Nike coincided with a public feud with fellow rapper Kendrick Lamar. Marked by diss tracks and public exchanges, the Drake-Lamar beef has heightened public interest and created tensions within the Nike brand.
Despite this drama, Drake's Nike line will continue to release new products, including the upcoming Nike x NOCTA Hot Step 2 in 'White.'
Did Kendrick Lamar Wear the Worst Nike Shoes During Pop-Out Concert?
As Kendrick continued putting his foot on his neck, his fans and even Drake's fans noticed the shoes he wore during the historic "The Pop Out: Ken & Friends" 2024 event. Some alleged he wore the worst Nike ever released. As Lamar gained more fans, some known Drake fanatics, including DJ Akademiks, although he admitted Kendrick won the battle, continued taking shots at the Compton rapper. Spoiler alert, it did not go well. Ak tried establishing memes intending to blow up Lamar by posting compiled photos of the Pulitzer award rapper wearing heels and/or lifts in his shoes. Instead of getting more likes and laughing emojis, Ak's comment section turned on the internet personality and laughed at him.
This is not the first time Lamar has been spotted wearing Nike. On Feb. 8, a day of remembering Kobe Byrant and his daughter Gigi, the Compton native rapper wore some of Bryant's most iconic sneakers, Kobe 6 'Grinch,' during his Super Bowl kickoff performance.
Ironically, Kendrick Lamar has also collaborated with Nike on several occasions. The rapper first partnered with Nike to release a series of sneakers, starting with the Cortez Kenny line in 2017, which paid homage to his Compton roots. This collaboration expanded with more releases, including the DAMN.
Recently, GQ reported that Lamar had worn the original Nike Shox R4 sneakers at his "The Pop Out: Ken & Friends" event in Los Angeles. This choice was considered bold and provocative, considering the shoes are no longer available on shelves due to their "unconventional design."
In the same report, Lamar's decision to wear the discontinued sneakers was seen as impactful since it prompted calls for Nike to consider reviving the iconic shoe.
Who Is the Artist Can Save Nike?
Interestingly, the Drake-Kendrick Lamar feud could potentially benefit Nike due to the public interest and media attention, considering both artists have massive influence in the music and cultural spheres. However, if it's based on which of the two artists won the beef, Lamar could be Nike's saving grace.
Critics and hip-hop followers think Lamar won the rap battle after releasing diss tracks "Not Like Us" and "Euphoria," which effectively addressed and countered Drake's accusations.
Given Lamar's influence, which has made an entire stadium sing his hits against Drake, another Nike X Kendrick Lamar collab could help boost the company's sales and reputation.
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