Nike hoping two-time NBA MVP Shai Gilgeous-Alexander will save struggling basketball brand

After signing a contract extension with Converse in 2024, the shoe company appointed him creative director of its basketball division. Unlike many titles, this one wasn't honorary. The guard sketched designs for his signature shoe, the "Shai 001," before its 2025 release.

"He literally sent us a picture of the shoe. He drew the picture, he drew the shoe," Converse executive Adrian Stelly told Jaden Thompson of Women's Wear Daily in 2025. "Literally, that young man. It's definitely not a tag line. It's actual work."

Nike needs him to sketch more fresh designs for its struggling basketball brand. 

Nike's brand image and stock prices continue to decline 

According to Yahoo Finance, Nike's stock price hasn't traded above $79.99 per share since July 28, 2025. On Tuesday morning, it opened at $45.51 per share. A UBS financial analysis revealed a surprising reason for that. 

"Nike's revenue has been really down, and Nike's stock has been obliterated over the last 24 months, 18 to 24 months," ESPN NBA insider Brian Windhorst said in April. "And this analyst at UBS, by the way, the analyst at UBS, doesn't care. They're writing to their investors, and they basically said, part of the reason Nike is selling fewer basketball shoes is that basketball players aren't as popular as they used to be." 

Nike's two headliners on the men's basketball side are Los Angeles Lakers forward LeBron James (41) and Houston Rockets forward Kevin Durant (37). Both remain great, but neither is the league's best player, and both are nearing the end of their careers. That could explain the popularity decline. 

Adding a fresh face in Gilgeous-Alexander, who turns 28 on July 12, may improve Nike's brand image among younger customers. So will making quality shoes. Nike hopes Gilgeous-Alexander, who ranked third in the NBA in free-throw attempts (nine per game) this season, is as good at drawing those as he is at drawing fouls.