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Free Animated Nike PowerPoint Template & Google Slides

About the Template

Nike company profile template.

Is your information looking dull and boring? Then don’t miss out on the opportunity to elevate your visual content with this free animated Nike template . This cutting-edge template is designed to capture the essence of Nike’s brand identity and bring it to life through mesmerizing animations. In addition, the template features sleek and modern design elements that are perfect for showcasing Nike’s iconic sports products, from running shoes to basketball jerseys and more.

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Nike in 2024: Detailed SWOT Analysis with a Complimentary PowerPoint Template

Download Nike's 2024 SWOT Analysis: Comprehensive insights and free PowerPoint template. Key strategies, opportunities, and challenges revealed.

StrategyPunk

Introduction to the post.

This post will conduct an in-depth SWOT analysis of Nike in 2024 . Nike is the world's largest supplier of athletic shoes and apparel. We'll examine Nike's internal strengths and weaknesses and external opportunities and threats.

Let's dive right in!

Introduction to Nike

Nike, Inc. is an American multinational corporation headquartered in Beaverton, Oregon. It was founded in 1964 as Blue Ribbon Sports by Bill Bowerman, a track-and-field coach, and his former student Phil Knight.

Nike employs over 75,000 people worldwide and manufactures athletic footwear, apparel, equipment, accessories, and services. It caters to various sports, including running, basketball, football, training, and more.

A Brief Look at the History of Nike

In 1971, Blue Ribbon Sports started making its footwear line, now marked with its famous "Swoosh" logo. The brand was renamed Nike in 1978, named after the Greek goddess of victory.

Nike also expanded aggressively overseas, mainly focusing on China's untapped market. Today, over half of Nike's sales come from outside North America.

Financials of Nike 2023

In fiscal year 2023 (June 2022 to May 2023), Nike delivered strong financial results despite global economic challenges:

Geographically, North America remains Nike's largest market, accounting for over 40% of sales. However, significant growth areas are China, Europe/Middle East/Africa (EMEA), and the Asia Pacific/Latin America (APLA) regions.

In-depth SWOT Analysis of Nike 2024

Nike’s strengths.

Global Brand Recognition : Nike's Swoosh logo and "Just Do It" slogan are recognized globally. It has built powerful brand awareness through decades of quality products and marketing.

Global Production & Distribution : Nike has well-established outsourced manufacturing capabilities and a solid global distribution infrastructure, ensuring efficient worldwide supply.

Nike’s Weaknesses

Lack of Agility : As a large company, Nike lacks the agility to respond quickly to market changes. It needs to streamline its structure and decision-making to become more nimble.

Nike’s Opportunities

Emerging Markets : Nike has significant untapped growth potential in emerging markets like China, India, the Middle East, and Latin America through its localization strategy.

Nike’s Threats

Counterfeits : Counterfeit Nike products illegally sold globally can negatively impact brand image and sales. Nike continues its brand protection efforts against counterfeiting.

Nike SWOT Analysis Summary

Internal factors, external factors.

Favorable industry growth trends, emerging market expansion potential, and direct sales growth avenues are significant opportunities for Nike. However, competition pressures, margin headwinds, and counterfeiting risks need to be managed through targeted strategies.

Frequently Asked Questions

What are nike’s most significant strengths, what are the major threats facing nike.

Critical threats Nike faces are intensifying competition from brands like Adidas and Under Armour, counterfeiting its trademarks, and potential consumer spending declines in an economic recession.

What opportunities can fuel Nike's future growth?

What is nike's competitive strategy, how does nike's marketing support its business strategy.

Nike's marketing reinforces its product differentiation strategy. Advertising campaigns spotlight product innovations and link Nike to elite athletic performance. Sponsorships of superstars like LeBron James and emotional storytelling around sports tap into consumers' passions. The goal is to strengthen Nike's brand prestige and premium positioning.

What sustainability initiatives has Nike undertaken?

How can sustainability provide nike strategic benefits, have there been any notable acquisitions in nike's history.

Major past acquisitions fueled Nike's growth, including purchasing surf-inspired footwear brand Hurley International in 2002 and sports technology firm Celect in 2019. Both deals obtained Nike valuable intellectual property and innovative product designs. The Select takeover also bolstered Nike's data analytics capabilities for demand forecasting and inventory optimization.

Could Nike acquire other companies in the future?

Nike swot analysis powerpoint template.

This free editable PowerPoint template provides a SWOT analysis framework to evaluate Nike's internal strengths and weaknesses and external opportunities and threats. 

Nike SWOT Analysis PDF Template

Discover more, swot analysis: free powerpoint template, new swot framework & free ppt template - 2024 edition.

Dive into the 2024 Edition of our SWOT Analysis guide, complete with a free PowerPoint template. This resource covers the essentials of conducting a SWOT analysis, its benefits, and practical application tips, including a case study on Mercedes Benz.

Primark SWOT Analysis: Free PPT Template and In-Depth Insights 2024

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Introduction

• Nike, Inc. is a major publicly traded sportswear and equipment supplier based in the US.
• The company is headquartered near  Beaverton , Oregon .
• It is the world's leading supplier of  Athletic shoes  and apparel and a major manufacturer of  sports Equipment
• Revenue in excess of  US$ 18.6 billion in its fiscal year 2008 (ending May 31, 2008).
• As of 2008, it employed more than 30,000 people worldwide..
• The company was founded in January 1964 as  Blue Ribbon Sports  by  Bill Bowerman and Philip Knight.
• officially became Nike, Inc. in 1978.
• Nike markets its products under its own brand as well as Nike Golf, Nike Pro,  NIKE+ , Air Jordan , Nike Skateboarding.
• In addition to manufacturing sportswear and equipment, the company operates retail stores under the Niketown name.
• Nike sponsors many high profile athletes and sports teams around the world, with the highly recognized trademarks of "Just do it" and the  Swoosh  logo.
• Nike, originally known as  Blue Ribbon Sports , was founded by  University of Oregon  track athlete Philip Knight and his coach Bill Bowerman in January 1964. The company initially operated as a distributor for Japanese shoe maker  Onitsuka Tiger
• The company's profits grew quickly, and in 1966, BRS opened its first retail store
• By 1971, the relationship between BRS and Onitsuka Tiger was nearing an end.
• BRS prepared to launch its own line of footwear, which would bear the newly designed  Swoosh  by  Carolyn Davidson .
• The Swoosh was first used by Nike in June 1971, and was registered  on January 22, 1974.
• By 1980, Nike had reached a 50% market share in the U.S. athletic shoe market
• Nike's first national television commercials ran in October 1982 during the broadcast of the  New York Marathon .
• It was agency co-founder  Dan Weiden  who coined the now-famous slogan  "Just Do It"  for a 1988 Nike ad campaign, which was chosen by  Advertising Age  as one of the top five ad slogans of the 20 th century
• Throughout the 1980s, Nike expanded its product line to include many other sports and regions throughout the world.
• Nike produces a wide range of sports equipment.
• Their first products were track running shoes. They currently also make shoes, jerseys, shorts, etc. for a wide range of sports including  track and field, baseball , ice hockey , tennis , etc.
• The most recent additions to their line are the  Nike 6.0 ,  Nike NYX , and  Nike SB  shoes, designed for  Skateboarding .
• Nike has recently introduced cricket shoes, called  Air Zoom Yorker , designed to be 30% lighter than their competitors'.
•  In 2008, Nike introduced the  Air Jordan XX3 , a high-performance basketball shoe designed with the environment in mind.
• Nike is well known and popular in  Youth Culture, chav  culture and  Hip Hop culture  as they supply  urban Fashion  clothing.
• Nike recently teamed up with  Apple.inc  to produce the  Nike+  product which monitors a runner's performance  via  a radio device in the shoe which links to the iPod Nano
• Some of Nike's newest shoes contain  FLywire  and Lunarlite Foam. These are materials used to reduce the weight of many types of shoes.
• Nike shoes are carried by multi-brand stores and the exclusive Nike stores across the globe.
• Nike sells its product to about 20,000 retail accounts in the U.S. and in almost 200 countries around the world.
• In the international markets, Nike sells its products through independent distributors, licensees and subsidiaries. I
• Independent distributors need not adapt to local pressures because the 4Ps of marketing are managed by distributors.
• Nike’s pricing is designed to be competitive to the other fashion  Shoe Retailers .
• The pricing is based on the basis of premium segment as target customers.
• Nike as a brand commands high premiums. Nike’s pricing strategy makes use of vertical integration in pricing wherein they own participants at differing channel levels or take part in more than one channel level operations.
• This can control costs and influence product pricing.�
• Promotion is largely dependent on finding accessible store locations. It also avails of targeted advertising in the newspaper and creating strategic alliances.
• Nike has a number of famous athletes that serve as brand ambassadors such as the Brazilian Soccer Team (especially Ronaldino, Renaldo, and Roberto Carlos), Lebron James and Jermane O’Neal for basketball, Lance Armstrong for cycling, and Tiger Woods for Golf.
• Nike also sponsors events such as Hoop It Up and The Golden West Invitational. Nike’s brand images, the Nike name and the trademark swoosh, make it one of the most recognizable brands in the world. Nike’s brand power is one reason for its high revenues. Nike’s quality products, loyal customer base and its great marketing techniques all contribute to make the shoe empire a huge success
• ADVERTISEMENTS:
• In 1982, Nike aired its first national television ads, created by newly formed ad agency  Wieden+Kennedy , during the New York Marathon. This was the beginning of a successful partnership between Nike and W+K that remains intact today.
• The Cannes Advertising Festival has named Nike its  Advertiser of the Year  on two separate occasions, the first and only company to receive that honor twice (1994, 2003).
• Nike also has earned the  Emmy Award  for best commercial twice since the award was first created in the 1990s. The first was for "The Morning After," a satirical look at what a runner might face on the morning of January 1, 2000 if every dire prediction about Y2K came to fruition. The second Emmy for advertising earned by Nike was for a 2002 spot called "Move," which featured a series of famous and everyday athletes in a stream of athletic pursuits.
• In addition to garnering awards, Nike advertising has generated its fair share of controversy:

Endorsements

• Nike pays top athletes in many different sports to use their products and  Promote/Advertise  their technology and design.
• Nike is the official kit sponsor for the  Indian Cricket Team  for 5 years, from 2006 till end of 2010. Nike beat  Adidas  and  Puma  by bidding highest (US$43 Million total).
• LeBron James- $90 Million
• Kobe Bryant- $40 Million
• Christiano Ronaldo- $32.5 million
• Maria Sharapova- $6 million
• Roger Federer- $13 million
• NIKEiD  is a service provided by  Nike  allowing customers to personalise and design their own Nike merchandise.
• They offer online services as well as physical NIKEiD studios in different countries around the world, including: United Kingdom, France, Spain, Germany, China and the USA.
• It provides customers the ability to choose from a limited range of different material and colours to develop their own style of tennis shoe.
• It gave a total of 31 different customizable parts including the base, overlay, accent, lining, stitching, outsole, laces, etc.
• In total this shoe gave a choice of 82 different materials and option types.
• It has since expanded from a small web-based service to a large array of stores and new software applications to give consumers a greater range of personalization and uniqueness in a variety of Nike shoes and clothing.

Child Labour Controversy

• Nike has been accused of using child labour in the production of its soccer balls in Pakistan.
• While Pakistan has laws against child labour and slavery, the government has taken very little action to combat it.
• Furthermore the U.S constitution states that child labour is an illegal and inhumane practice and any U.S. company found guilty practicing and encouraging it will be prosecuted.
• GATT and WTO prohibits member nations, like the United States, from discriminating against the importation of goods made by children.
• Are dolphins becoming more important than children? A question making WTO to reconsider the children's appeal of the third world.

Competitors

• Reebok International Limited , a subsidiary of the German sportswear giant  adidas , is a producer of  athletic footwear , apparel, and accessories.
• In 1890 in Holcombe Brook, a small village 6 miles from the town Bolton , England , Joseph William Foster was making a living producing regular running shoes when he came up with the idea to create a novelty spiked running shoe.
• After his ideas progressed he joined with his sons, and founded a shoe company named  J.W. Foster and Sons  in 1895.
• In 1960, two of the founder's grandsons Joe and Jeff Foster renamed the company  Reebok  in England, having found the name in a dictionary won in a race by Joe Foster as a boy; the dictionary was South African edition hence the spelling.
• The company lived up to the J.W. Foster legacy, manufacturing first-class footwear for customers throughout the UK.
• In 1979, Paul Fireman, a US sporting goods distributor, saw a pair of Reeboks at an international trade show and negotiated to sell them in North America
• Adidas is a major German-based sports apparel manufacturer and  Parent Company  of the Adidas Group, which consists of the  Reebok  sportswear company, Taylor made adidas golf  company , and Rockport .
• Besides sports footwear, the company also produces other products such as bags, shirts, watches, eyewear and other sports and clothing-related goods. The company is the largest  Sportswear  manufacturer in  Europe  and the second biggest sportswear manufacturer in the world, after its U.S. rival Nike.
• Adidas was founded in 1948 by  Adolf Dassler .
• Registered in 1949, Adidas is currently based in Herzogenaurach , Germany, along with Puma.
• The company's clothing and shoe designs typically feature  Three parallel Bars , and the same motif is incorporated into Adidas's current official  logo .
• The "Three Stripes" were bought from the Finnish sport company  Karhu Sports  in the 1950s.
• The company  revenue  for 2009 was listed at  € 10.38 billion and the 2008 figure at €10.80 billion.

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Nike PowerPoint Presentation Templates and Google Slides

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Nike Brand Expansion Ppt PowerPoint Presentation Complete Deck With Slides

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Nike Brand Expansion Analyzing Major Performance Indicators Post Extension Strategies Rules PDF

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Comprehensive Guide For Storytelling Promotion Case Study Nikes Video Storytelling Marketing Campaign Structure PDF

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Ambush Marketing Plan To Create Brand Awareness Use Case Nike Ambushing Reebok In 1996 Atlanta Olympics Summary PDF

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Nike, Inc. Derrick Eppard. Background. Nike founded as Blue Ribbon Sports in 1964 In 1971 became Nike, Inc. Founders are Bill Bowerman and Phil Knight Headquartered in Washington County, Oregon. Economic. In 2012 Revenue:$24.128 B Net Income: $2.223 B

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Presentation Transcript

Nike, Inc. Derrick Eppard

Background • Nike founded as Blue Ribbon Sports in 1964 • In 1971 became Nike, Inc. • Founders are Bill Bowerman and Phil Knight • Headquartered in Washington County, Oregon

Economic • In 2012 Revenue:$24.128 B Net Income: $2.223 B • Design, Development, Marketing, and Sales • Mainly South East Asia production • “JUST DO IT” and the “Swoosh” logo • Sponsorships

Political • Sweatshops caused many human rights activists to get involved and speak out against Nike.

Legal • Kasky v. Nike court case ended in a $1.5 million settlement. • Kasky filed suit due to worker conditions in Southeast Asia. • The settlement involved investments by Nike to strengthen workplace monitoring and factory worker programs.

Cultural • 6.0 Shirts in Boston Niketown controversy could be a misunderstanding in cultural differences. • http://boston.cbslocal.com/2011/06/21/menino-to-niketown-take-down-controversial-t-shirt-display/

Where is the Revenue coming from?

References • Locke, Richard M. "The promise and perils of globalization: The case of Nike." Management: Inventing and delivering its future 39 (2003): 40. • http://boston.cbslocal.com/2011/06/21/menino-to-niketown-take-down-controversial-t-shirt-display/ • http://www.business-humanrights.org/Categories/Lawlawsuits/Lawsuitsregulatoryaction/LawsuitsSelectedcases/NikelawsuitKaskyvNikeredenialoflabourabuses?sort_on=publication&batch_size=10&batch_start=7

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Product Presentation Specialist

• Moscow ( gorod Moskva )

Job description

• Support the cross functional team for the Market Place Transformation processes, connect and work with the Product Presentation Team in the European Headquarters (EHQ) • Support and feed the Retail Brand lead to create cross category initiative Product Presentation consistency. • Support the assortment planning team updating the fixtures capacity and bringing the brand point of view within the Merchandising Team and goals. • Create plan for our top account doors (selected), creating scalable solution clustering the rest of the account chain aligned with the merch channel direction. • Support and feedback the category EHQ team and the merchandising category team on defining module strategy for the selected partner doors. • Responsible for planning the needs for our stores staff in terms of education/training and coaching creating plans aligned with the account structure. • Feedback and give insight on service model provided by the visual merchandising 3rd party company on the key doors together with the Territory Product Presentation Manager • Be responsible for re-fits and opening processes of Nike spaces in retail environment

Desired profile

• Minimum 3 years in retail visual merchandising and display experience in a multi store. • Demonstrated strength in product merchandising, fixture development, display development and integrated marketing programs. • Strong understanding of the consumer and how visual merchandising supports an exceptional customer experience and drives business. • Possess strong communication skills with experience presenting in formal and informal settings. • Excellent English written and verbal communication skills, Native Russian is a must • Ability to interact, collaborate and influence with both internal and external Business Partners as well as effectively communicate vision and influence execution of strategies. • Self-motivated with organizational skills and ability to interface with a team and manage multiple projects independently. • Pro-active problem solver, ability to assess an issue and develop action steps for resolution. • Ability to travel 30%.

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NIKE reveals moscow-based sports facility inspired by russia's 'cage football' subculture

just in time for the 2018 world cup, NIKE opens a 4,685-square-meter multidimensional sports center in moscow . located in the center of the city’s gorky park, the KOSMOS-designed NIKE BOX msk  draws inspiration from the country’s traditional street football subculture known as korobka .

as well as a spacious football field, BOX msk  accommodates athletic pursuits, three-on-three basketball courts, yoga groups and moscow’s NIKE running club. the inspiration for the site derives from the heart of russian football which evolved around courtyard cages, a series of playgrounds separated by protective fences introduced in the absence of other urban places to play.

known as ‘korobkas’ these spaces were known to be the conditions many of the nation’s greats got their start in the game. architecture firm KOSMOS , who was selected for the project in a competition organized by  NIKE and strelka KB , have designed the site’s central pavilion, with transparent facades referencing the air units found in NIKE shoes.

the site anticipates to go on and offer 7,300 hours of sport classes throughout its first year. this summer, BOX msk will host the korobka rebels football tournament, where more than 3,000 male and female players across U17 and U21 levels will participate.

happening this week! discover riva, the historic brand that blending technology and tradition, reinventing a contemporary, modern, and unique style for fiberglass yachts between 27 and 164 feet in length.

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Investor News Details

Nike, inc. reports fiscal 2024 fourth quarter and full year results.

BEAVERTON, Ore.--(BUSINESS WIRE)-- NIKE, Inc. (NYSE:NKE) today reported financial results for its fiscal 2024 fourth quarter and full year ended May 31, 2024.

• Full year revenues were $51.4 billion compared to $51.2 billion in the prior year, up 1 percent on a currency-neutral basis*
• Fourth quarter revenues were $12.6 billion, down 2 percent on a reported basis and flat on a currency-neutral basis
• NIKE Direct revenues for the fourth quarter were $5.1 billion, down 8 percent on a reported basis and down 7 percent on a currency-neutral basis
• Wholesale revenues for the fourth quarter were $7.1 billion, up 5 percent on a reported basis and up 8 percent on a currency-neutral basis
• Gross margin for the fourth quarter increased 110 basis points to 44.7 percent
• Diluted earnings per share was $0.99 for the fourth quarter

"We are taking our near-term challenges head-on, while making continued progress in the areas that matter most to NIKE's future – serving the athlete through performance innovation, moving at the pace of the consumer and growing the complete marketplace," said John Donahoe, President & CEO, NIKE, Inc. "I'm confident that our teams are lining up our competitive advantages to create greater impact for our business."**

Matthew Friend, Executive Vice President & Chief Financial Officer, NIKE, Inc. said, "We are driving better balance across our portfolio. While we are encouraged by our progress, our fourth quarter results highlighted challenges that have led us to update our Fiscal '25 outlook. We are taking actions to reposition NIKE to be more competitive, and to drive sustainable, profitable long-term growth."**

Fourth Quarter Income Statement Review

• Revenues for the NIKE Brand were $12.1 billion, down 1 percent on a reported basis and up 1 percent on a currency-neutral basis, with currency-neutral growth in Greater China, APLA and EMEA, partially offset by a decline in North America.
• NIKE Direct revenues were $5.1 billion, down 8 percent on a reported basis and down 7 percent on a currency-neutral basis, due to declines in NIKE Brand Digital of 10 percent and NIKE-owned stores of 2 percent.
• Wholesale revenues for the fourth quarter were $7.1 billion, up 5 percent on a reported basis and up 8 percent on a currency-neutral basis.
• Revenues for Converse were $480 million, down 18 percent on a reported basis and down 17 percent on a currency-neutral basis, primarily due to declines in North America and Western Europe.
• Gross margin increased 110 basis points to 44.7 percent, primarily due to strategic pricing actions, lower ocean freight rates and logistics costs, and lower warehousing, partially offset by lower margin in NIKE Direct and unfavorable changes in net foreign currency exchange rates.
• Demand creation expense was $1.1 billion, flat compared to prior year as lower sports marketing expense was offset by higher advertising and marketing expense.
• Operating overhead expense decreased 9 percent to $3.0 billion, primarily due to lower wage-related expenses. Included in Operating overhead expense was $39 million of restructuring charges.
• The effective tax rate was 13.1 percent compared to 17.3 percent for the same period last year, due to changes in earnings mix, partially offset by decreased benefits from stock-based compensation.
• Net income was $1.5 billion, up 45 percent, and Diluted earnings per share was $0.99, including $0.02 of restructuring charges, net of tax benefit. Excluding these charges, Diluted earnings per share would have been $1.01*.

Fiscal 2024 Income Statement Review

• Revenues for the NIKE Brand were $49.3 billion, up 1 percent on a reported and currency-neutral basis, with currency-neutral growth in Greater China and APLA, partially offset by a decline in North America.
• NIKE Direct revenues were $21.5 billion, up 1 percent on a reported and currency-neutral basis, led by NIKE-owned stores growth of 6 percent, partially offset by a decline in NIKE Brand Digital of 3 percent.
• Wholesale revenues were $27.8 billion, up 1 percent on a reported basis and up 2 percent on a currency-neutral basis.
• Revenues for Converse were $2.1 billion, down 14 percent on a reported basis and down 15 percent on a currency-neutral basis, primarily due to declines in North America and Western Europe.
• Gross margin increased 110 basis points to 44.6 percent, primarily due to strategic pricing actions and lower ocean freight rates and logistics costs, partially offset by higher product input costs, lower margin in NIKE Direct and unfavorable changes in net foreign currency exchange rates.
• Demand creation expense was $4.3 billion, up 6 percent compared to prior year, reflecting an increase in advertising and marketing expense.
• Operating overhead expense was $12.3 billion, flat compared to prior year as lower wage-related expenses and lower technology spend were offset by restructuring charges.
• The effective tax rate was 14.9 percent, compared to 18.2 percent for the same period last year, due to changes in earnings mix and one-time items including the benefit provided by the delay of the effective date of US foreign tax regulations in the first quarter of fiscal 2024.
• Net income was $5.7 billion, up 12 percent, and Diluted earnings per share was $3.73, including $0.22 of restructuring charges, net of tax benefit. Excluding these charges, Diluted earnings per share would have been $3.95*.

May 31, 2024 Balance Sheet Review

• Inventories for NIKE, Inc. were $7.5 billion, down 11 percent compared to the prior year, reflecting a decrease in units.
• Cash and equivalents and short-term investments were $11.6 billion, up $0.9 billion from last year, as cash generated from operations was partially offset by share repurchases, cash dividends and capital expenditures.

Shareholder Returns

NIKE continues to have a strong track record of consistently increasing returns to shareholders, including 22 consecutive years of increasing dividend payouts.

In the fourth quarter, the Company returned approximately $1.6 billion to shareholders, including:

• Dividends of $560 million, up 7 percent from prior year.
• Share repurchases of $1.0 billion, reflecting 11.1 million shares retired as part of the four-year, $18 billion program approved by the Board of Directors in June 2022.

In fiscal 2024, the Company returned approximately $6.4 billion to shareholders, including:

• Dividends of $2.2 billion, up 8 percent from prior year.
• Share repurchases of $4.3 billion, reflecting 41.4 million shares retired as part of the four-year, $18 billion program approved by the Board of Directors in June 2022.

As of May 31, 2024, a total of 84.9 million shares have been repurchased under the current program for a total of approximately $9.1 billion.

Conference Call

NIKE, Inc. management will host a conference call beginning at approximately 2:00 p.m. PT on June 27, 2024, to review fiscal fourth quarter and full year results. The conference call will be broadcast live via the Internet and can be accessed at http://investors.nike.com . For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. PT, July 11, 2024.

About NIKE, Inc.

NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. For more information, NIKE, Inc.'s earnings releases and other financial information are available on the Internet at http://investors.nike.com . Individuals can also visit http://news.nike.com and follow @NIKE.

View source version on businesswire.com : https://www.businesswire.com/news/home/20240627955686/en/

Investor Contact: Paul Trussell [email protected]

Media Contact: Virginia Rustique-Petteni [email protected]

Source: NIKE, Inc.

Nike Is The Latest Global Brand To Exit Russia Completely

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Sports apparel giant Nike is set to leave the Russian market for good, Reuters reported first on Thursday, becoming the latest multinational firm to abandon operations in the country since its invasion of Ukraine.

A woman walks into a Nike boutique in a shopping mall in Moscow.

Nike’s decision to leave the Russian market comes three months after it paused its retail operations in the country.

In an emailed statement shared with Forbes , Nike said it will “responsibly scale down” operations over the coming months while “fully supporting” its employees in the country.

The move is likely to have very little impact on the company’s bottom line as income from Russia and Ukraine accounts for less than 1% of Nike’s overall revenue, the report adds.

Key Background

In March, Nike announced it was temporarily shutting down all retail stores it owned and operated in Russia, but authorized outlets owned by third-party franchisees remained open and continued to sell Nike merchandise. By May, Nike confirmed it was not renewing its business commitments in Russia, including an agreement with its largest franchisee in the country, Inventive Retail Group (IRG). Earlier in the same month, Nike canceled its sponsorship deal with Russian soccer club Spartak Moscow.

Nike now joins a large group of high-profile global brands that have exited Russia since its invasion of Ukraine and subsequent Western sanctions against the country. Among sports apparel brands, Adidas shut down its retail stores in March after suspending its partnership with the country’s soccer federation. Uniqlo’s parent company, Fast Retailing, also suspended retail operations in the country in March, citing “a number of difficulties.” Other major companies exiting Russia included Starbucks , McDonald's and Coca-Cola .

Further Reading

Nike to fully exit Russia, will scale down in coming months (Reuters)

Nike Is Reportedly Leaving Russia After Not Renewing Main Franchise Contract (Forbes)

Spotify, Nestle, S&P Global Ratings—Here Are The Companies Cutting Ties With Russia Over Ukraine Invasion (Forbes)

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