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Nike sets new sustainability goals

After rolling out its new sneaker refurbishing program, Nike also has plans for furthering its sustainability goals. The company is currently exploring new business models to extend the life of their products, and the company has also joined the Science Based Targets initiative, which calls for business to lead the way toward a zero-carbon...

14 Apr 2021

Fashion

Nike launches refurbished program to recycle sneakers

Sporting giant Nike has launched a refurbish program that allows customers to return Nike shoes that are then either resold, donated or recycled. The refurbish program is a part of Nike’s sustainability initiative Move to Zero, to create a more circular customer offering while reducing its waste footprint. The program works by extending the...

14 Apr 2021

Fashion

Nike is world's top valuable apparel brand

Nike is the world’s most valuable apparel brand for the seventh consecutive year, according to data from the Brand Finance Apparel 50 2021 report. In a trying year for retailers and brands, the total value of the world’s top 50 most valuable apparel companies declined by 8 percent. Footwear brands are the only category to see growth, up 9...

8 Apr 2021

People

Ex-Nike executive pleads guilty in fraud case

The Oregonian has reported that former Nike marketing manager Errol Andam has plead guilty to alleged wire and mail fraud. In February, prosecutors claimed that Andam defrauded Nike of 1.5 million dollars. He was also accused of making false statements on a loan application and money laundering in an attempt to defraud the famed sneaker company....

7 Apr 2021

Fashion

The Xinjiang cotton controversy has taken to the catwalk

The Xinjiang cotton-gate impasse has taken another turn, this time on the catwalk, as Chinese designers are pledging its use in their collections. At the end of China Fashion Week in March, Chinese brand Sun-Bird’s creative director Zhou Li took a bow at the end of her show – demonstratively holding a bouquet of cotton plants. Solidarity with...

7 Apr 2021

Fashion

Nike wins in court to stop sales of Lil Nas X "Satan Shoe"

A US judge has sided with Nike to halt the distribution of Lil Nas X and MSCHF’s ‘Satan Shoes’ after the sportswear giant filed a claim to say it infringed its trademarks. On Thursday federal judge Eric Komitee said the customised red and black shoes, which contain a biblical passage referring to Satan’s falling from heaven, infringed Nike’s...

2 Apr 2021

Business

Nike, Michael Jordan, and Jordan Brand open grant to help fight racism

In partnership with Michael Jordan and Jordan Brand, Nike has announced its Community Grants’ opening, aiming to provide 1 million dollars to organizations in the fight against racism. The new grant program is part of a 10-year, 100 million dollar commitment to the Black community by focusing on social justice, education, awareness, and economic...

1 Apr 2021

Business

Nike sues Lil Nas X over "Satan Shoes"

Nike has launched a legal case against American rapper Lil Nas X and MSCHF Product Studio Inc, who together launched a limited edition customised Nike trainer on Monday. Called the “Satan Shoe” the devil-themed Nike Air Max 97 are said to contain one drop of blood in the shoe’s sole, of which 666 pairs were released. Nike, in its lawsuit filed...

30 Mar 2021

Culture

Western brands face China backlash over political statements

Nike was the recipient of Chinese backlash after the sporting goods giant stated it does not use cotton from China’s Xinjiang region, where currently an international human rights crisis is ensuing with the alleged forced labour camps of the Uyghur people. On Weibo, China’s most popular social media channel, a retaliation against Nike began when...

25 Mar 2021

Retail

Nike's sales affected by shortage of shipping containers

Nike’s sales drop in North America has nothing to do with a dampening of consumer demand, but rather a shortage of shipping containers and congestion at US ports that delayed shipments in the quarter by more than three weeks. Like many global brands and retailers, Nike faced supply chain challenges caused by the pandemic, delaying collections...

19 Mar 2021

Business

Nike posts marginal rise in Q3 sales

For its third quarter, Nike reported revenues of 10.4 billion dollars, up 3 percent compared to the prior year and down 1 percent on a currency-neutral basis led by Greater China reporting revenue growth of 51 percent. Gross margin for the quarter increased 130 basis points to 45.6 percent and net income was 1.4 billion dollars, up 71 percent....

19 Mar 2021

Fashion

'Sneakers tell your story': Sneaker crave floods South Africa

Queueing outside an upmarket Johannesburg clothing store, young fashion lovers hope to lay their hands on the latest sneakers to come out of the United States. For South Africa's city dwellers, sneakers are more than just shoes. As a marker of personality as well as social status, they are cared for and worn with pride, and youths compete to...

9 Mar 2021