Nike & adidas To Cut Back On Sneaker Production In 2023

Source: Justin Sullivan / Getty

If y’all thought it was hard to get a pair of some coveted Nike or adidas kicks in 2022, it’s about to get that much harder in 2023, and it’s not going to be because of sneaker bots or resellers anymore.

Hypebeast is reporting that both Nike and adidas are planning on cutting back on sneaker productions come next year by as much as 30%-40%. Word is that the Swoosh and Three Stripes have already notified their manufacturing companies of the surprising move. While many sneakerheads complain that Nike isn’t putting out enough pairs of their most highly anticipated releases such as the Air Jordan 1 “Lost and Found”‘s and collaborations such as the A Ma Maniere Air Jordan 4’s, we’re also complaining that they’re restocking bricks such as the Air Jordan 1 “Heritage” and “Brotherhoods” at an absurd rate. Seriously, no one’s rocking those joints out on the streets, but we digress.

As for why both Nike and adidas have decided to cut back on production, well, it’s all about sales at the end of the day.

The main reason for the decline in volume is the ongoing hindrances caused by the COVID-19 pandemic in China, a major sales market for brands, and the continued withdrawal of retail locations in Russia. Additionally, despite the growth of the retail market in North America and Europe this past year, a significant drop is expected for next year.

The decline is already being felt in factories across Vietnam and Indonesia, average operation rates used to sit around 82-84 percent, but have now fallen to 61 percent.

Yeah, that’s not going to fly with these big time corporations.

The reduction in production is expected to last from the Summer of ’23 to the Winter with the effect being felt well into 2024.

You have to wonder how such a move will affect the resale market and whether or not this will make future limited-edition sneakers such as the A Ma Maniere Air Jordan 4’s more scarce or will force Nike to order less bricks that no one asked for. Just sayin.’

The post Nike & adidas To Cut Back On Sneaker Production In 2023 appeared first on The Latest Hip-Hop News, Music and Media | Hip-Hop Wired.

Nike & adidas To Cut Back On Sneaker Production In 2023  was originally published on hiphopwired.com