New Economic Realities // January 13, 2024 ■ 1 min read
Modern Retail Rundown: Nike shakeups, Rent the Runway restructuring & DTC fire sales
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This week on the Modern Retail Rundown, the edit team breaks down the industry’s biggest stories.
First, Nike announced the surprising departure of its COO Andy Campion, alongside the end of its longterm partnership with golf star Tiger Woods. Similarly, rental service Rent the Runway is also restructuring — with its COO also leaving and the company laying off 10% of its employees as it tries to improve the business. Finally, industry watchers expect to see more direct-to-consumer exits in 2024 as more founders look to sell their companies.