The chief innovation officer of Nike is set to retire. John Hoke, who has been with the sportswear giant for over 30 years, is reportedly stepping down from his role. This is according to an internal memo seen by Bloomberg, which said Hoke will remain with the company through October to complete some ongoing projects. A spokesperson for Nike...
30 May 2025
New York - American sportswear company Nike will increase prices on many items in the US on June 1, the group told AFP on Wednesday. It did not link this decision to any particular factor, but it comes amid new tariffs. All children's products, items under 100 dollars, Air Force 1 trainers and Jordan-branded items that are not shoes are exempt....
22 May 2025
Sportswear brand Nike has cut jobs within its technology department, a spokesperson confirmed to media platform FashionNetwork. Nike’s management team was also recently shaken up. Sources told the media platform that the redundancies mainly affect staff within the ‘strategic enterprise and corporate functions departments’. These departments...
20 May 2025
Madrid – Tropicfeel, the emerging fashion firm from Spanish entrepreneur Alberto Espinós, is taking a decisive leap forward in its brand-building process with the appointment of Peter Hudson as creative director. The American will bring everything he learned during his two decades with the innovation and development team at sports multinational...
19 May 2025
Nike has announced reorganisation of its senior leadership team, aiming to accelerate its "Win Now" strategy and position the company for sustained growth. The restructuring includes the promotion of key executives and the retirement of longtime leader, Heidi O’Neill, president of consumer, product, and brand. She has announced her retirement...
6 May 2025
A coalition of major U.S. footwear companies is sounding the alarm over the potential devastation of new tariffs, warning that the levies could trigger widespread business closures, job losses, and price hikes for consumers. In a letter to the Trump administration, the Footwear Distributors and Retailers of America (FDRA), representing industry...
5 May 2025
Nike is facing a proposed class action lawsuit in regards to the closure of its cryptocurrency business, RTFKT. Plaintiffs in the case are accusing the sportswear giant of leaving them with significant losses after the platform’s shuttering caused demand for their non-fungible tokens (NFTs) to wane. Filed with the Eastern District of New York,...
28 Apr 2025
Nike, a leading sports maker, is facing challenges in a year marked by declining sales and corporate layoffs, as it strives to regain momentum. The company's third-quarter results revealed a 9 percent revenue decrease to 11.3 billion dollars. The gross margin dropped by 330 basis points to 41.5 percent, net income fell 32 percent to 0.8 billion...
21 Mar 2025
A verdict has been reached in a long-spanning legal dispute between sportswear giants Lululemon and Nike, with the latter coming out largely on top. According to a public verdict sheet seen by Law360, a New York federal court has awarded Nike 355,450 dollars after concluding that its competitor’s athletic shoes violated patent rights. A jury...
11 Mar 2025
German sporting goods manufacturer Adidas will be the new jersey partner of the British football club Liverpool FC. On Monday, the Herzogenaurach-based company and the current leader of the English Premier League announced a multi-year agreement. Adidas will replace the US company Nike as the outfitter of the club for the coming 2025/26 season....
Robbers in the US have reportedly stole thousands of Nike shoes worth two million dollars from a freight train traveling through the deserts of California and Arizona last month, according to various media reports. Some of the nearly 2,000 stolen shoes were not due to hit stores until March 14. They included Nigel Sylvester's new line in...
25 Feb 2025
Since the announcement of NikeSkims, a new sportswear brand aimed at women, Nike (NYSE: NKE) has seen a significant increase in its stock price. Analysts report that the American stock market has responded positively to the collaboration between the sportswear giant and Kim Kardashian's shapewear brand, Skims. Following the announcement, Nike...
21 Feb 2025