The Swoosh is struggling. Nike, once the undisputed champion of athletic excellence, has hit some serious speed bumps. Market share dropping, wholesale partners frustrated, and competitors nipping at their heels. Not exactly what you’d expect from a brand that taught us to “Just Do It.”

Enter Elliott Hill, Nike veteran and new CEO. He’s not here for a quick fix or fancy marketing campaign. Hill’s got something bigger in mind: rediscovering Nike’s soul.

“We lost our obsession with sport,” Hill says bluntly. And he’s right. While Nike was chasing direct-to-consumer dollars and pumping out lifestyle sneakers, they forgot what made them Nike in the first place – the athlete.

Let’s break down what went wrong:

Nike’s recent stumbles aren’t just about execution. They drifted from their core identity, choosing short-term gains over long-term brand strength. Heavy discounting (50% of direct sales at markdown? Yikes.), overproduced sneakers losing their magic, and wholesale partners feeling left out in the cold.

But here’s where it gets interesting. Hill isn’t just reshuffling the deck – he’s rewriting the rules. His strategy? Put athletes back at the center of everything. Not just in marketing, but in every single decision Nike makes.

Think about it: When was the last time Nike got you excited about actual performance innovation? Hill’s fixing that. He’s scaling back those endless Air Force 1 releases to make room for fresh designs that actually help athletes perform better. The Peg 41? That’s just the start.

But here’s what makes Hill’s approach fascinating: He gets that positioning isn’t just marketing fluff. It’s the atomic core of business strategy. You can’t just say you’re about athletic excellence. You have to be about athletic excellence.

So what’s he doing differently?

Inside-Out Transformation:
Hill’s starting with Nike’s soul. Its culture and operations. That $2 billion cost-reduction plan? It’s not just about saving money. It’s about creating space for real innovation. When you visit Nike HQ at 6 AM, you’ll find teams meticulously weighing materials for new products. That’s the discipline they’d lost.

Storytelling with Substance:
Remember those epic Nike ads that gave you goosebumps? They’re coming back, but with a twist. Hill’s connecting emotional storytelling with actual performance innovation. The upcoming Paris Olympics? That’s not just another sponsorship. It’s Nike’s chance to show they’re still the ones pushing human potential forward.

Local Love, Global Impact:
Hill knows you can’t treat every market the same. In China, where Nike’s facing fierce competition, they’re diving deep into local culture and preferences. It’s not about forcing the global Nike playbook – it’s about making Nike matter to each community.

But here’s the really clever bit: Hill’s rebuilding trust with wholesale partners without abandoning direct-to-consumer. It’s not either/or anymore. It’s about creating an ecosystem where Nike shows up wherever athletes want to find them.

The early signs? They’re promising. Wholesale partnerships are strengthening. New performance products are gaining traction. Full-price sales are climbing. But Hill knows the job isn’t done.

Competitors like Hoka and On Running aren’t slowing down. They’re still winning with tight-knit community engagement and focused innovation. And rebuilding trust in key markets like China? That’s a marathon, not a sprint.

What can we learn from Nike’s reset?

1. Positioning is Strategy:
   It’s not what you say – it’s what you fundamentally are. Hill’s aligning every decision with Nike’s core identity as the brand of athletic excellence.
2. Fix the Inside First:
   You can’t fake authentic positioning. Nike had to reset its culture and operations before the external magic could return.
3. Let Storytelling Lead:
   When your positioning is clear, emotional storytelling amplifies it naturally. Nike’s not just selling products – they’re selling the potential in every athlete.
4. Think Local, Win Global:
   Success in today’s market means adapting your positioning to local realities while maintaining your core identity.

The bottom line: Nike’s comeback isn’t just about fixing what’s broken. It’s about rediscovering what made them magical in the first place. When Hill says, “We will lead with sport and put the athlete at the center of every decision,” he’s not just sharing a strategy. He’s reminding us why Nike became Nike.

The lesson for every business? Positioning isn’t what you say – it’s what they think. And when you align strategy with soul, like Nike’s doing now, that’s when the real magic happens.

The Swoosh is finding its stride again. And for anyone trying to build or rebuild a brand, that’s a masterclass worth watching.

Want to win with positioning? Start by asking yourself: What’s your atomic core? What do you fundamentally stand for? Answer that, align everything around it, and you might just find your own kind of magic.

Remember: Just do it. But do it right.