Nike To Try 'Massive Transformation' For Relevance

Nike has faced tougher competition recently from companies like Adidas. Some of its biggest brands, including Jordans, have faltered. The company is reportedly undergoing a "massive transformation" to be more nimble, and adaptable to the current retail climate. Nike wants to jump-start a renaissance at the company. The company is hoping that a new focus on innovation can help it fight back against competition, and regain its crown as king of the sneaker and sportswear markets.