$Nike(NKE)$Nike have strong brand identity. Almost everyone feels cool rocking a pair of Nike, Adidas or New Balance sneakers. Like almost no one feels trendy wearing a pair Li Ning, Antaor Xtep (maybe yes in China). And most of their design you see is a copy of Nike or Adidas. Actually even most China's trend setters wear Nike sneakers. be it genuine or fakes.
Branding is important because it incorporates the culture, history, lifestyle and marketingtheir brand's image.
It would wait for the price to fall to $80-90 and cop some Nike stocks at pre-pandemic price. Their PE ratio need to go down abit more.
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Comments
Strong brand is king