What: Designer Brands (US) announced that Nike was resuming business relationship with them.

Why it is important:  In a spectacular fashion, Nike is reversing some of its decisions related to stop some wholesale partnerships, which were initially cancelled to leave room for Nike’s DTC strategy.

Nike is reestablishing partnerships with some retailers to help clear its inventory, reversing a previous strategy to sell more products directly to consumers.

Designer Brands recently announced that Nike products would return to its stores in October.

Nike had previously dropped about 30% of its wholesale accounts, including Zappos, Macy's, Designer Brands, and Urban Outfitters, to focus on direct sales and strategic partners. However, increased inventory levels and changing market dynamics have led Nike to reengage with these retailers.

Despite this shift, Nike's wholesale revenue increased by 10% in the nine months through February compared to the same period last year.

Nike is trying to win independent retailers back