Nike's recovery under returning CEO Elliott Hill is being tested after football star Kylian Mbappé ended his 20-year association with the brand to join Swiss rival On. The sportswear giant has lost 75% of its market value over five years and was dropped from the S&P 100, following strategic missteps including a direct-to-consumer pivot and weakened product innovation.
Nike's Turnaround Struggles as Mbappé Exits for Rival On
Source: BBC