Illustration: Michelle Rohn for Bloomberg Businessweek
The Man Who Made Nike Uncool
Instead of transforming the sneaker giant into a high-tech powerhouse, John Donahoe pissed off partners and disappointed fans.
In early 2021, Nike Inc. released one of its most successful sneakers of all time. The Panda Dunk, a black-and-white revival of its low-top basketball shoe from the ’80s, was an immediate hit. Those who scored a pair often resold them on StockX and other marketplaces for as much as $300, triple their retail price. At Nike headquarters in Beaverton, Oregon, where the shoe’s official name is the less ursine and more technical Nike Dunk Low Retro, executives monitored the product flow with precision, restocking the shoes just often enough to keep them circulating but still scarce, a well-worn Nike tactic.
