Page 2 - Nike
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
 "In China+1 plan, Chennai right fit for non-leather footwear majors")
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
 "Golf legend Tiger Woods and Nike end sports partnership after 27 years")
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)
 "Sportswear brands ride the athleisure wave, double India biz in two years"){kind=logo}
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 forecast cut rattles sportswear stocks as consumer spending stumbles")
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 trims sales forecast; to cut $2 billion in costs over next three years")
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
 "Nike, Mitsubishi struggle to get Indian certification for Chinese vendors")
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
 "Agilitas acquires sports footwear maker Mochiko Shoes for undisclosed sum")
A casual adidas sneaking past Nike?
Terrace-style sneakers, rooted in football fashion and casual culture, are experiencing a resurgence in
 "A casual adidas sneaking past Nike?")
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
 "US Supreme Court declines to hear Nike, Adidas tech patent dispute")
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.
 "Fortnite's collab with Nike's NFT platform won't involve in-game NFTs")
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 ...
 "NCLAT set aside Nike India's plea to initiate insolvency against its dealer")
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
 "Indian edtech major Simplilearn trains its sights on boot camps")
Wall Street rises as bank shares rally, Nike boosts Dow Jones
Nine of the 11 major S&P sectors were up in early trading with financials and consumer discretionary rising the most.
 "Wall Street rises as bank shares rally, Nike boosts Dow Jones")
Liverpool hails 'strong' financial position despite $6 million loss
The club, owned by American businessman John Henry, said it has invested more than 130 million pounds ($174 million) in infrastructure over the past three years
 "Liverpool hails 'strong' financial position despite $6 million loss")
Nike cries foul over virtual shoes, suing retailer that sells sneaker NFTs
Nike said StockX's NFTs infringe its trademarks and are likely to confuse consumers
 "Nike cries foul over virtual shoes, suing retailer that sells sneaker NFTs")
Wall Street rebounds from Omicron selloff after strong Nike, Micron results
The Dow Jones Industrial Average rose 539.76 points, or 1.55%, to 35,471.92, the S&P 500 gained 72.79 points, or 1.59%, to 4,640.81
 "Wall Street rebounds from Omicron selloff after strong Nike, Micron results")
Nike beats revenue estimates on strong North America demand
Nike's second-quarter sales in North America, its largest market, jumped 12%, as a reopening U.S. economy and the roll out of vaccines gave people confidence to rush back to stores
