Nike, Inc.

Nike possesses a powerful moat rooted in its iconic brand, global reach, and scale. Brand Finance ranks Nike as the strongest apparel brand worldwide, and the ‘swoosh’ logo has massive customer loyalty. This intangible brand equity translates into pricing power and demand.

Nike also benefits from distribution scale (direct and wholesale channels) and significant marketing muscle. There are weaker moats at play: switching costs are low and no true network effects exist. Competition from brands like Adidas, Puma, or specialty players could erode share if Nike missteps.

Overall, its advantage stems largely from brand and scale, which are strong but not invulnerable.