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View attached explanation and answer. Let me know if you have any questions.1Business Analysis on NikeStudent’s NameInstitutional AffiliationCourseDate2Business Analysis on NikeAnalysis of Industry StructuresNike is the market leader in the fashion industry sports apparel and footwear sector),generating 28.02 in revenue. Revenues that the apparel market generates have steadily increasedover the past years. The industry grew at a 12.5 annual rate from 2000 to 2007. However, theindustry market declined in 2008, recording $1.2 billion in revenues. The 2008 recessions in theU.S and Europe and economic downturn impacted all aspects of the apparel and footwearindustry. Notably, Nike’s stock lost nearly 14% value during the crisis (Forbes, 2020). However,the industry recovered quickly from 2008 to 2011, with sportswear performing better than othersectors. In 2013, the revenue of this market was approximately 1.50 billion and increased to 1.9trillion in 2019 before declining following the Covid-19 pandemic (Statista, 2022b). Accordingto McKinsey & Company (2022), the fashion industry reported a 20% decline in 2019-2020.China, followed by the U.S, recovered faster while Europe lagged from geographicalperspectives. After two years of disruption, the global apparel market is strongly recovering,with revenues amounting to $1.55 trillion (Statista, 2022a). The growth is projected to reach $3trillion by 2030. The net profit margin for Apparel, Footwear & Accessories Industry is 13.79 %,above the industry average (CSI Market Inc., 2022). Overall, the industry shows positive growth,especially in emerging economies such as Asian Pac…
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