World Footwear

Companies

Nike rehires former executive to strengthen the wholesale business

Jul 11, 2024 United States
Nike rehires former executive to strengthen the wholesale business
Veteran executive Tom Peddie will return to Nike as vice president of marketplace partners. The appointment comes at a time of slowing sales and strained relationships with retail partners
The US-based sportswear giant has announced the return of Tom Peddie, who worked at Nike for 30 years before the company announced his retirement in 2020, as its vice president of marketplace partners. “As we continue to focus and improve capabilities in our wholesale business, I am confident that Tom will bring both vision and bold leadership to accelerate the Marketplace strategy”, Craig Williams, Nike’s president of geographies and marketplace, said in an internal memo seen by Bloomberg.

At a time of slowing sales, Nike is trying to rebuild relationships with retailers such as Foot Locker and Designer Brands, after pulling products from many stores in favour of its stores, e-commerce and apps. During the company’s third-quarter earnings call, Nike’s leadership signalled the importance of wholesale partners and unveiled plans to increase investment in the segment.

This renewed focus aims to harmonise Nike’s DTC strategy of recent years. While this has allowed the company to increase profits and use customer data better, it has also resulted in higher marketing and infrastructure costs. In addition, Nike is also handling more returns and inventory, something that was previously in the hands of its wholesale partners.

Peddie, who has held several senior management roles during his career at Nike, including general manager of emerging markets and vice president and general manager of North America, rejoins then the company at a critical time and is expected to help the company strengthen the wholesale business.


Image Credits: dezeen.com



Related Events

  • Jul
    15
    Jul 15-Jul 16, 2025 | St. Paul, Minnesota, United States

    Northwest Shoe Travelers Market

  • Jul
    15
    Jul 15-Jul 16, 2025 | New York, United States

    Première Vision New York

  • Jul
    16
    Jul 16-Jul 17, 2025 | Portland, United States

    Polymers in Footwear Portland

  • Jul
    22
    Jul 22-Jul 24, 2025 | San Diego; Las Vegas (summer edition), United States

    The IR Show

Related Organizations

  • L&HCA - Leather & Hide Council of America

    L&HCA - Leather & Hide Council of America

    United States
  • FDRA - Footwear Distributors and Retailers of America

    FDRA - Footwear Distributors and Retailers of America

    United States
  • NSRA - National Shoe Retailers Association

    NSRA - National Shoe Retailers Association

    United States
  • PLC - Pensole Lewis College of Business & Design

    PLC - Pensole Lewis College of Business & Design

    United States