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Nike’s Problem: Young People

Nike Inc. (NYSE: NKE) has discovered that people don’t want its golf equipment, maybe because young people who don’t want to spend five hours on a course have never adopted it. Tiger Woods, its most visible endorser, has not played in two years. Michael Jordan, Nike’s most important spokesman, is 53 years old. Nike is running low on symbols of its sportswear dominance.

Nike depends more on Jordan than Woods. Jordan’s brand brings in $2.7 billion a year. However, as he approaches 60, Jordan’s relevance will start to disappear.

Rival Under...