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Nike sales increase by 14 percent in Q3

For the third quarter, revenues for Nike, Inc. increased 14 percent to 12.4 billion dollars compared to the prior year and were up 19 percent on a currency-neutral basis. Revenues for the Nike brand were 11.8 billion dollars, up 14 percent on a reported basis and up 19 percent on a currency-neutral basis, with double-digit growth in North...

22 Mar 2023

Fashion

Puma, Nike: Brands increasingly turning backs on kangaroo leather

Did you know that many soccer shoes are made from kangaroo leather? For example, the Puma King, worn by soccer gods such as Diego Maradona, Eusébio, Lothar Matthäus and Pelé, has been made from kangaroo leather for years. What once seemed exotic and represented quality has now acquired an unpleasant aftertaste: For many years, environmentalists...

20 Mar 2023

Business

Nike shareholder expresses concern over brand’s failure to address forced labour

An activist shareholder of sportswear giant Nike has outlined in an open letter that it is concerned about the company’s lack of response surrounding forced labour in its supply chain. Tulipshare, a shareholder activist investment platform and a long-term shareholder of Nike, addressed the company’s board of directors in the letter, in which it...

14 Mar 2023

Business

Nike selects former Twitter exec as new chief DE&I officer

Sportswear giant Nike has named James Loduca as its new chief diversity, equity and inclusion officer, succeeding Jarvis Sam who left the company in November. Loduca announced the appointment on his LinkedIn, where he said: “In an increasingly polarised time, sport is one of the few things that still brings us together. “Nike believes that if...

9 Mar 2023

Business

Nike announces leadership promotions

Nike has announced that effective as of March 13, Amy Montagne, currently VP/GM, APLA will transition to lead the women’s business as VP/GM women’s and Cathy Sparks, currently VP, Nike Direct, EMEA, will transition to lead the APLA geography as VP/GM, APLA. The company announced that Whitney Malkiel, currently VP/GM Women’s, has decided to leave...

8 Mar 2023

FashionFeatured

Etsy exposed as major counterfeiting platform

Etsy this week has been exposed as a platform where counterfeit goods are easily bought and sold. A scathing report by Citron Research states “we believe management has knowingly or, at the very least, negligently, turned this company into the largest organized clearing house for counterfeit goods in the world while not only allowing the...

17 Feb 2023

Fashion |Opinion Featured

Nike and Tiffany paring not so legendary, as collab faces backlash

Tiffany and Nike have launched a new collaboration. Not everyone is enthralled. LVMH has invested heavily in the marketing activations of Tiffany, the American jewellery business it acquired in 2021, in order to give it a modern and international allure. Tiffany’s Executive Vice President of Products and Communication, Alexandre Arnault, son of...

3 Feb 2023

Business

Nike sues Lululemon over alleged patent infringements

Nike is claiming Canadian athleisure giant Lululemon is infringing patents related to the use of textile and other structural designs of its footwear. Nike alleges Lululemon’s Blissfeel, Chargfeel and Strongfeel sneakers are violating copyright and infringing its patents of its Flyknit technology. Nike, which is seeking an undisclosed sum in...

1 Feb 2023

Fashion

Tiffany & Co. unveils sneaker collaboration with Nike

Jewellery specialist Tiffany & Co. has entered into a new domain as seen in the unveiling of a sneaker collaboration with sportswear giant Nike. Entitled the ‘Legendary Pair’, the shoes are a reimagined take on Nike’s Air Force 1 1837, and come accompanied with a limited-edition sterling silver accessories collection. The sneaker design itself...

31 Jan 2023

BusinessFeatured

Nike sues Bape for trademark infringement of multiple sneaker styles

Sportswear giant Nike has moved to sue its competitor Bape alleging that the Japanese brand’s footwear business “revolves around copying” its designs. In a court filing, Nike outlined the shoes in question, including its two styles of its Air Force 1, the Dunk and two Air Jordan 1 silhouettes. Imagery presented as part of the filing attempted to...

27 Jan 2023

BusinessFeatured

McKinsey sporting goods report 2023: 'Preserve demand and build resilience'

The World Federation of Sporting Goods Industry (WFSGI) and McKinsey & Company have teamed up once again to present their annual sporting goods industry report. Its title highlights the need of the hour - “Sporting Goods 2023 – The need for resilience in a world in disarray”. The third edition of the report looks at the dynamics driving...

23 Jan 2023

Culture |In Pictures

Nike to release a book to inspire better design

Sportswear giant Nike is releasing a new book to inspire the next generation of athletes to imagine “the infinite possibilities of design and sport”. ‘No Finish Line,’ released on February 14 in Europe, the US and Asia, aims to celebrate Nike’s 50 years of design and innovation, as well as being a “design vision for the next 50 years”. The book...

17 Jan 2023