Page 2 - Nike

Nike pins hopes on Olympic Games in Paris to win back market share

Nike spotlighted its 'Air' cushioning technology, used in everything from marathon shoes to sneakers, and its knit materials that make shoes lighter

Nike deal ends German soccer's 70-year long relationship with Adidas

German soccer and Adidas are breaking up. American sportswear giant Nike will supply all of Germany's national teams with its apparel and equipment from 2027, the German soccer federation (DFB) surprisingly announced Thursday. The new deal extends to 2034 and ends Germany's long-standing relationship with Adidas, which goes back some 70 years and had appeared unshakeable. Germany's men's team is using Adidas' headquarters in Herzogenaurach, near Nuremberg, as its team base for the European Championship, which Germany is hosting this summer. Adidas appeared to be surprised by the DFB's decision to switch to its biggest rival, only confirming in a brief statement: We were informed by the DFB today that the association will have a new supplier from 2027. German teams wore Adidas gear for all four of the men's World Cup titles, their three European titles, and the women's two World Cup and eight European titles. The DFB later defended its switch to the American kit supplier. We unde

Puma expects weaker first half due to 'challenging' market conditions

Sportswear companies including Adidas, Nike, and Puma, have seen demand weaken as customers battling with inflation cut spending on non-essential goods

Nike to cut about 2% of total workforce to lower costs as demand weakens

Nike had in December outlined a $2 billion savings plan over the next three years, which included tightening the supply of some products and reducing management layers

Nike to slash global workforce by 2% as sportswear giant seeks savings

That sparked a slump in Nike's shares, which have struggled to recover and remain down about 2% this year

In China+1 plan, Chennai right fit for non-leather footwear majors

Several suppliers of non-leather footwear players like Nike, Adidas, Puma, and Reebok have either set up their units in Tamil Nadu or are close to sealing a deal

Golf legend Tiger Woods and Nike end sports partnership after 27 years

"Over 27 years ago, I was fortunate to start a partnership with one of the most iconic brands in the world," Woods said in a statement posted Monday on X, formerly Twitter

Sportswear brands ride the athleisure wave, double India biz in two years

Puma, Decathlon, Adidas, Skechers, and Asics have registered growth in the range of 35 to 60% year-on-year since the financial year 2020-21 (FY21)

Nike forecast cut rattles sportswear stocks as consumer spending stumbles

The company also laid out a $2 billion cost-saving plan on Thursday and said it was adopting a "more prudent approach" to planning for the rest of the year

Nike trims sales forecast; to cut $2 billion in costs over next three years

Nike said its revenue in the full year, ending May 2024, is expected to be down by about 1 per cent

Nike, Mitsubishi struggle to get Indian certification for Chinese vendors

Nike, Mitsubishi, and Carrier, among others, are having difficulty obtaining Bureau of Indian Standards (BIS) certification for their vendor factories in China

Agilitas acquires sports footwear maker Mochiko Shoes for undisclosed sum

Established in 2008 by Virender Awal and a co-founding team of five members, Mochiko Shoes registered a revenue of Rs 642 crore in FY23 and is estimated to grow by 30 per cent year-on-year

A casual adidas sneaking past Nike?

Terrace-style sneakers, rooted in football fashion and casual culture, are experiencing a resurgence in

US Supreme Court declines to hear Nike, Adidas tech patent dispute

Adidas petitioned the patent office tribunal to cancel one of Nike's patents related to making seamless knitted upper components for athletic sneakers in 2012

Fortnite's collab with Nike's NFT platform won't involve in-game NFTs

Video game company Fortnite collaborated with Nike's NFT platform, .Swoosh. The alliance doesn't integrate NFTs but involves crypto elements.

Adidas to replace KKPL as the new kit sponsor of Indian cricket team

In January, KKPL had replaced e-sports platform MPL Sports as the kit sponsor, its contract will expire on May 31

Nike, Adidas shoes maker Pou Chen to invest nearly $281 mn in India

The investment, which would create about 20,000 jobs in Tamil Nadu over a span of 12 years

NCLAT set aside Nike India's plea to initiate insolvency against its dealer

The National Company Law Appellate Tribunal (NCLAT) on Monday dismissed a petition filed by Nike India to initiate insolvency proceedings against one of its dealers. A two-member NCLAT bench upheld the orders of the National Company Law Tribunal (NCLT), which on December 22, 2022, rejected the footwear and apparel maker's plea to initiate the insolvency proceedings against its distributor on the ground of pre-existing dispute. The appellate tribunal further said it was "not satisfied with the submission of the Appellant (Nike India) that dispute is a moonshine dispute." However, the NCLAT said Nike India is free to take recourse to the mechanism as provided in the Distributorship Agreement for realisation of its dues. Nike India, an operational creditor had issued a notice under section 8 of the Insolvency & Bankruptcy Code (IBC) claiming an amount of Rs 3.15 crore. In its reply, Nike India's claim was disputed by Enkay Brand Distribution. On this, Nike India said it was a ...

Layoffs hit Nike, impacted workers share personal experience on LinkedIn

The employees posted on LinkedIn after Nike announced the resignation of Ratnakar Lavu, the top technology executive at the company

Indian edtech major Simplilearn trains its sights on boot camps

The Indian edtech major is gearing up to compete with global majors in the space