First News
Volume:8, Number:02
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Business & Finance 3

Amazon Deal Can Help Nike Get Back on Track

Nike may be getting back on track. The USD96 billion sportswear maker confirmed it will sell its sneakers and the like on Amazon after years on the sidelines. Though still the dominant athletic brand, it has been losing ground especially to Adidas. Coupled with its own direct-to-consumer push, the new initiative could make it a pacesetter again. The company led by Mark Parker reported better-than-expected quarterly revenue and profit on June 29 and finally said it was launching a pilot program with the e-commerce titan, in line with earlier press reports. He was coy about what products would be part of the launch, but investors nevertheless sent Nike shares up more than 8 percent on Friday. Shoppers can already buy Nike products with the company’s swoosh logo on Amazon, but they are offered through unlicensed sellers that Nike cannot control. Doing its own business on Jeff Bezo’s online mall could generate up to USD500 million of additional revenue, Goldman Sachs estimates.

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