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Nike CEO: 'Sport offense' will help make us more competitive
CNBC Television· 2025-10-06 15:30
So there's the internal culture, but there's also the the society, the the cultural relevance of Nike, which also feels like it's been lacking in the last few years. How do you restore something like that. >> Yeah, I think so.First of all, I what I what we did do and and the fifth component of the win now actions is this ground game. That's means that we have teams and uh teammates down into the key cities around the world where influence happens whether it is culture or sport and we lost those that the peo ...
Shark Tank alum Bombas taps former Under Armour exec as CEO as it looks beyond digital roots
CNBC· 2025-05-15 11:10
Core Insights - Bombas founder David Heath is stepping down as CEO, with Jason LaRose taking over to lead the company through its next growth phase [1][2] - The company has experienced significant revenue growth, with a 22% increase in the current fiscal year and over $2 billion in lifetime sales [3] - Bombas aims to expand its wholesale presence from approximately 7% of sales to between 10% and 20% to sustain growth [4][5] Company Strategy - The footwear segment is the fastest-growing area, with expected revenue growth of over 70% this year, while sock sales have increased by 17% year-over-year [3] - Bombas is exploring physical store options and expanding its assortment with current partners, avoiding Amazon as a wholesale channel [5][6] - The company emphasizes the importance of storytelling and brand integrity in its expansion strategy, focusing on partnerships that align with its values [8][9] Industry Context - The shift from a direct-to-consumer model to wholesale is seen as necessary for sustainable growth, as many digitally native brands face challenges in profitability [7] - Brands that have successfully transitioned to wholesale have recognized the need for strategic partnerships to maintain brand integrity while scaling [8][10]