Report: Nike Shutting Down 9 Wholesale Accounts In Shift To DTC
Nike is reportedly closing nine of its wholesale accounts: City Blue, VIM, EbLens, Belk, Dillard’s, Fred Meyer, Bob’s Stores, Boscov’s and Zappos, according to an analyst note from Susquehanna Financial Group. The analysts, led by Sam Poser, called the decision “positive for Nike, as it takes control of more of its own destiny.” It was unclear when the athletics giant would step back from those wholesale accounts. “Nike has a bold vision to create the marketplace of the future, one closely aligned with what consumers want and need,” a Nike spokesperson said in response to questions about the closures. “As part of our recently announced Consumer Direct Acceleration strategy, we are doubling down on our approach with Nike Digital and our owned stores, as well as a smaller number of strategic partners who share our vision to create a consistent, connected and modern shopping experience.” Read more at Retail Dive.