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...Investors including $244bn Dutch pension fund PGGM last week sent a letter to Nike demanding that the sportswear giant “fulfil its human rights responsibilities”, calling on the company to ensure workers...
...Pricey branded sportswear was harder to justify with no one to see it....
...This week, we look at the magic behind the potential sale of the Dallas Mavericks, the British sportswear company that’s raising cash to compete with Nike and Adidas, and why investors love padel....
...At the time of Woods’ signing, golf was little more than an accessory category for the sportswear maker....
...The changes in the running footwear market are the starkest examples of how much the sportswear industry has shifted during Donahoe’s tenure....
...Nike lowered its revenue outlook and said it plans to cut $2bn in costs over the next three years as the world’s largest sportswear maker warned of softening consumer demand, particularly in China and Europe...
...Fundraising volumes have risen, with about $3.5bn raised compared to just $500mn in the same period in 2023, according to Dealogic, but the two largest deals — sportswear maker Amer Sports and healthcare...
...The sportswear giant has had a tough run in recent quarters. An inventory glut, coupled with cooling demand in North America and uncertainty in China all weighed on the stock this year....
...Felicia Mayo, who has served as chief talent, diversity and culture officer at the world’s largest sportswear maker since July 2020, joined from Tesla in 2019....
...It is hoping to raise over $1bn so it can pay back a shareholder loan taken out to finance its acquisition by Chinese sportswear company Anta Sports....
...It was their latest contrarian bet on the difficult sector, having bought sportswear retail chain Footasylum and the owner of LloydsPharmacy in recent years....
...But Nike operates in a very different sportswear marketplace today than it did in 1996, when it first signed Woods....
...Increasingly, luxury clothes are all but indistinguishable from the casual clothes they imitate — sportswear and workwear, mostly....
...Although the country accounted for just under a fifth of the sportswear giant’s sales in 2020, it was one of its most profitable markets....
Consumers take advantage of discounts ahead of Christmas
...The sportswear giant reported solid revenue growth and raised its sales outlook for the year. Shares rose more than 13 per cent in response....
...Nike, the world’s largest sportswear maker by revenues, had suspended its relationship with Irving a month ago. A spokesperson on Monday said Irving “is no longer a Nike athlete”....
...Indeed, the story positions Nike, today the world’s largest sportswear company with revenues of about $46.7bn, as an underdog compared with then dominant brands Converse and Adidas....
...In the summer of 2021, sportswear giant Nike gave employees at its head office a paid week off, to “rest and recover” from the stresses of the coronavirus pandemic....
...The world’s second-largest sportswear maker expects to take an up to €250mn hit to net profit this year, with its shares trading down almost 6 per cent on Tuesday....
...The clothes he creates highlight both the versatility of his luxury sportswear and allow him to speak in the visual language with which he’s most familiar....
...The German sportswear maker has provided every World Cup match ball since 1970, and is the official supplier for the Uefa men’s European Championship and Champions League....
...These kinds of deep partnership have a totemic forerunner: the Nike deal with Michael Jordan that remade the sportswear and sponsorship business....
...Downbeat earnings guidance issued by sportswear giant Nike is likely to be replicated by more consumer companies in the weeks to come....
...Nike was once the most popular and most counterfeited sportswear brand in China. Not any more. Chinese shoppers are now choosing local designers and homemade brands over imports....
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