PARIS - Nike is spending more on this Olympics than any previous Games, top executives said on Friday, as the U.S. sportswear brand embarks on a marketing push it hopes will revive flagging sales and help compete with upstart rivals.

Sportswear makers are looking to reignite demand on the back of Paris 2024, which represents a return to normalcy after Tokyo 2020, delayed to 2021 and held without spectators due to the global pandemic.