Nike Dunk, Once the World’s Hottest Sneaker, Is Fading Away

For the last few years, Nike Inc. prioritised a multi-billion-dollar sneaker franchise that helped the world’s largest sportswear company reach its lofty revenue goals. Now that franchise is sputtering.

Sales of Nike Dunk, a 1980s basketball shoe worn more on the streets these days than on the court, are expected to plummet 70 percent over two years as new leadership dials back the company’s dependence on its classic sneakers and makes way for other fresh sneaker designs, according to new…