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According to a recent survey, Nike remains the top apparel brand amongst teens for the 10th consecutive year. Piper Sandler's "Taking Stock with Teens" found that Nike strengthened its lead by 4% this year. They now have a 27% share of a very competitive market.
Analysts attribute this to a variety of factors. Nike's relevance to the younger generation has gone from strength to strength with their support of some strong activist campaigns. Air Jordans have also had an incredible year after Michael Jordans successful documentary was released. The push for sustainable products also appeals to the younger generation.
These good survey results coincide with Nike trading at all time highs. It went as low as $63 a share during the March lockdown sell-off. It has more than doubled from there and now trades above $130. Interestingly, before the sell-off it was hovering at historic highs of $105 a share. Despite all that has happened it is up nearly 30% this year.
People are exercising more and buying more products online. Both of those trends have suited Nike very well. We continue to add to this one as a core Vestact holding.
