Nike generated most of its revenue from wholesalers in 2023. However, its direct sales have steadily grown since 2020. Indeed, in 2023, Nike generated $27.4 billion in wholesale and $21.31 billion in direct sales. Yet, direct sales have increased from $12.3 billion in 2020 to $21.31B billion in 2023. Direct distribution now represents 44% of Nike’s sales via channel distribution compared to just 24% in 2020!