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Nike is changing its business model, and it might be a bit harder to pick up one of your favorite classics.
One of the few shoes synonymous with the athletic and sportswear giant is the Air Force 1, but now Nike is cutting the sneaker’s production.
Nike made the announcement on its third-quarter earnings call last week. CFO Matt Friend says the decision was made to make room on shelves for newer options.
“Third, we are in the midst of shifting our product portfolio toward newness and innovation. Last quarter, we spoke of our intentional actions to reduce marketplace supply of certain key franchises to ensure they remain healthy and strong, while seeding and scaling new products,” Friend explained on the call. “Given the way consumers are responding to our newest product journeys, even amidst a more promotional environment, we have decided to accelerate our actions. For example, we are pulling back supply of classics such as the Air Force 1; and we are reducing supply of Pegasus ahead of launching new innovation in the Pegasus 41.”
Friend sees it as a smart business move, and it’s got nothing to do with an Air Force 1 sales dip.
“We could sell more of these products if we wanted to, but we don’t think that’s the right thing to do from a brand point of view,” he added. “And we know that we manage these franchises for long-term health.”
On the call, Nike also touched on some newer silhouettes that will be getting some shine, including Devin Booker‘s signature sneaker, the Book 1, Zoom Vomero 5, Ja Morant’s sneakers and Sabrina Ionescu.
While making room for new stock, Nike is excited to showcase some new offerings at the Paris Olympics this summer. The brand hopes the games will generate interest in its latest Air technology, Dynamic Air, which was used on the Air Max DN.
See how sneakerheads are reacting to Nike slowing down production on the Air Force 1 below.
