Key Partners
- Contract manufacturers — nearly all footwear/apparel outside the U.S. (FACT 10-K).
- Vietnam / Indonesia / China dominate footwear unit mix (FACT).
- Wholesale retailers and distributors — still the volume channel (FACT).
- Athletes, teams, leagues — endorsement authenticity (FACT 10-K competition).
- Materials Tier-2 suppliers + Air Manufacturing Innovation for cushioning (FACT).
Key Activities
- Product design / tech innovation (FACT 10-K R&D).
- Demand creation — sports marketing + brand marketing (FACT $4.8B).
- Wholesale futures ordering and account management (FACT 10-K).
- NIKE Direct — Nike.com, Nike App, SNKRS, owned stores (FACT).
- Membership / Member Days / community apps NRC & NTC (FACT nike.com).
Key Resources
- NIKE / Swoosh / Jordan / Converse IP (FACT 10-K).
- Design + innovation stack (Air, ZoomX, Flyknit, etc.) (FACT).
- Free Membership identity across Nike App / SNKRS / NRC / NTC (FACT).
- Owned stores + digital platforms in 40+ countries (FACT).
- ~73k employees; $9.0B cash + ST investments at FY26 YE (FACT).
Value Propositions
- Performance + lifestyle footwear, apparel, equipment (FACT 10-K).
- Jordan performance/streetwear and Converse casual (FACT).
- Free Membership — shipping $50+, Wear Test, Member products (FACT).
- SNKRS drops and launch access (FACT snkrs-app).
- NRC / NTC training community apps (FACT membership).
Customer Relationships
- Free Membership identity once you log into a Nike app (FACT).
- Member Experiences, Experts, Member Days (FACT nike.com).
- Wear Test + receipt-less returns as Direct trust tools (FACT).
- Wholesale futures ordering 5–6 months ahead (FACT 10-K).
- No published Membership count or consumer NPS (do not invent).
Channels
- Wholesale — largest FY26 NIKE Brand channel (FACT $27.5B).
- Nike.com + Nike App digital commerce (FACT Direct / App).
- SNKRS for launches and exclusive releases (FACT).
- Owned NIKE / Converse stores — 347 U.S. + 641 non-U.S. (FACT).
- Demand creation marketing as awareness channel (FACT $4.8B).
Customer Segments
- Athletes and everyday movers (FACT mission / 10-K).
- Jordan / streetwear culture buyers (FACT Jordan Brand).
- Converse casual sneaker consumers (FACT segment).
- Wholesale retail accounts — concentrated but no ≥10% consol. (FACT).
- Four NIKE Brand geos + U.S. 44% / non-U.S. 56% mix (FACT).
Cost Structure
- CM / materials product cost → 42.9% FY26 gross margin (FACT).
- Demand creation $4.8B — sports + brand marketing (FACT).
- Operating overhead $11.4B (FACT).
- Owned-store leases, labor, digital platforms (FACT 10-K).
- Membership shipping / Wear Test returns as Direct costs (INFERENCE).
Revenue Streams
- NIKE Brand wholesale $27.5B FY26 (FACT).
- NIKE Direct $17.7B — digital + owned stores (FACT).
- Footwear ~$29.5B / apparel ~$13.4B NIKE Brand (FACT SEC).
- Converse $1.2B standalone (FACT).
- Membership $0 — not a paid sub line (FACT nike.com).