Nike Dunk Sales Expected To Drop 70% Over Next Two Years
CEO Elliot Hill has announced a scale-back in order to regain profits and make room for newer designs.
As one of the most dominant sneakers for the better part of 40 years, the Nike Dunk has been a leading influence in the market. Now, according to analysts at Piper Sander, its reign may be no more. In 2024, Dunks totaled $5.85 billion USD, approximately 18% of Nike’s sales. However, by the next fiscal year, Piper Sander reports that sales will drop significantly, estimating $1.75 billion USD.
In October of 2024, Nike appointed formerly retired Elliott Hill as CEO in an attempt to get the brand back on track. Though financial reports for the quarter ending February 28 beat out estimates by 11%, revenue still fell 9% to $11.3 billion USD. According to Hill, who is now implementing efforts to scale back the sneaker, Dunks are a primary part of the problem.
Experts in the field point to Dunk’s over saturation in the marketplace. Despite the continued structure of limited release drops, what once felt like a must-have “it” shoe became overpowered by the sheer frequency of colorways and collaborations. Currently, the sneaker resale platform GOAT lists 4,700 distinct Nike Dunk models on its site. Though the style is not necessarily less popular, consumers are not as excited as they once were.
Looking forward, Hill will not retire the Dunk but will deprioritize its production. Instead, it will take up a smaller share of the company’s overall streetwear portfolio, leaving room for newer designs and much needed brand innovation.
