What: Nike has rehired former executive Tom Peddie as vice president of marketplace partners to strengthen its wholesale relationships.

Why it is important: This strategic move marks a significant shift in Nike's approach, from a focus on direct-to-consumer (DTC) sales to revitalizing its wholesale partnerships, a decision influenced by recent market challenges and skepticism about the effectiveness of its DTC strategy.

Nike is reinforcing its commitment to wholesale partnerships by bringing back Tom Peddie, a seasoned executive with 30 years of experience at the company, to serve as vice president of marketplace partners. This decision follows the retirement of Jim Reynolds and comes at a crucial time for Nike, which has faced declining sales and macroeconomic challenges. The rehiring of Peddie, who previously held the role of vice president and general manager of North America before retiring in 2020, is part of Nike's broader strategy to re-engage with key wholesale partners like DSW, Macy’s, and Foot Locker. This marks a departure from Nike’s recent Consumer Direct Acceleration (CDA) strategy, which focused on DTC and digital sales channels. The move aims to stabilize and potentially grow Nike’s market presence amid a forecasted revenue decline for fiscal year 2025.

Nike rehired a retired exec to help boost wholesale relationships