Nike calls global media review

Nike has called for a global media review and it is understood that all holding companies have been invited. The review is expected to last six months and there is a possibility of Nike appointing more than one media partner. 

MARKETING-INTERACTIVE understands that Mindshare handles most of the media business outside of the US. Asia is an important region for Nike, especially markets such as China, Japan, South Korea, and India. Assembly is understood to be managing performance media in Asia and Europe, while Wieden + Kennedy takes the lead for media in the US. At the same time, Within is also said to manage some performance media duties in the US, MARKETING-INTERACTIVE understands. R3 is understood to be managing the pitch. Nike and R3 did not respond to a request for comment.

This news comes as Nike recently acquired a virtual sneaker startup RTFKT that creates NFT collectibles. Nike president and CEO, John Donahoe, said that the acquisition will accelerate the brand's digital transformation and allow it to serve athletes and creators at the intersection of sport, creativity, gaming and culture.

The sportswear brand began setting the foundation for its push into the metaverse this year by filing for several new trademarks, including "Nike" and its iconic slogan "Just Do It" on 27 October. A day later, it did the same for the "Jordan" brand name as well as Air Jordan and Jumpman logos. In the application, Nike said the trademarks will be used for "downloadable virtual goods" and "entertainment services". These include computer programmes featuring footwear, clothing, headwear, eyewear, as well as non-downloadable virtual footwear, clothing, headwear, and sports equipment.

The sportswear brand is also on the hunt for virtual material designers to create and visualise innovative virtual material concepts using 3D tools. Meanwhile, Donahoe said during the company's Q1 2022 earnings call that it is in a stronger position relative to its competition than prior to the pandemic because the market changes are working in Nike's favour.

"Consumers shift to digital that might have taken five years, will now only take two. That plays to Nike's advantage and our consumer-direct acceleration strategy is capitalising on this marketplace transformation," he said.

He added that the company will be more agile, more direct, and more digital. Its competitive advantages such as its innovative product, brand strength fueled by compelling storytelling, its roster of the world's best athletes and digital retail experience will "continue to create separation" from the competition, Donahoe added.

Photo courtesy: 123RF

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