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NIKE clocks US $ 1 billion net income in Q4

American sportswear company NIKE Inc. has reported financial results for the fourth quarter and full year ended May 31, 2017. During the period under review, international geographies and the Direct-to-Consumer (DTC) businesses globally led strong revenue growth for the retailer. The retailer noted 5 per cent increase in fourth quarter revenue to US $ 8.7 billion, up 7 per cent on a currency-neutral basis. “NIKE continues to create both near-term wins in today’s dynamic environment […]

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Brands take measures for workers’ health at supplier units

Over the past 1 year, more than 500 workers from factories reportedly supplying to brands like NIKE, Puma, Asics and VF Corporation were hospitalised as they felt unconscious – which is a staggering number. Notably, majority of these workers were women who worked 10 hours a day, six days a week under temperatures at times reaching 37 degrees. According to the workers’ rights alliance Asia Floor Wage, none of the factories, including those supplying to big […]

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NIKE to sell products on Amazon

NIKE has signed a deal with e-commerce giant Amazon to sell some of its products on its e-commerce platform. The venture dubbed as a “pilot” project allows former to sell shoes, apparel and accessories on latter’s website. Mark Parker, CEO, NIKE reportedly said: “In the US, we’re executing a new pilot with Amazon. As we do with all of our partners, we’re looking for ways to improve the NIKE consumer experience on Amazon by elevating […]

June 30, 2017

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Jordan Brand enters Canada

NIKE has opened first Canadian store of its Jordan Brand, a label of basketball footwear and athletic clothing, following the successful launch of a Jordan Brand flagship in Chicago, USA in 2015. Built on the success of its pop-up store at the same location in February 2016, the store now has a permanent location. “Toronto has long been known for its international appeal and, more recently, a unique basketball culture. These attributes make the city […]

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Forbes marks Christian Dior, Nike and Inditex as Top 3 apparel firms

Christian Dior, Nike and Zara’s parent company Inditex have emerged as top three in Forbes’ Global 2000 List for Apparel Companies – 2017. These companies have been measured on the basis of composite score of revenues, profits, assets, and market value. A total of 28 companies like Hermes, Prada, and Burberry, alongside legacy players like Coach, Macy’s and Nordstrom were chosen for the top list. Beating its contenders, Christian Dior made it to the top […]

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NIKE bags first denim patent

American sportswear giant NIKE has bagged patent for its athletic denim. The intellectual property wing of the retailer entered this new category. The patent also covers the term “artificially reinforced denim” which refers to a hybrid jeans-jogging pant. The patent also details a denim fabric that provides “high tenacity” and “moisture management,” in addition to stretch in various proportions. Such denims would note separate but seamless performance zones with the rear, thigh and calf areas […]

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NIKE opens its biggest Eastern Europe store in Moscow

US-based sports giant, NIKE has opened its first flagship and biggest store in Eastern Europe on Kuznetskiy Most in Moscow, Russia. NIKE’s partner in Russia, A3 Retail Group will run the store spread over an area of 23,455-square-foot. The new store opening has come just in time for Air Max Day. “This will be the largest Nike store in Russia and Eastern Europe. This will be the first flagship store in Moscow, on par with […]

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NIKE notes growth in third quarter

American sportswear giant NIKE has reported financial results for the third quarter ended February 28, 2017. Consumer demand in all geographies drove revenue growth across the NIKE Brand portfolio. During the quarter under review, revenues for the brand increased 5 per cent to US $ 8.4 billion, up 7 per cent on a currency-neutral basis. The retailer’s net income increased 20 per cent to US $ 1.1 billion during the third quarter. “The power of […]

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NIKE, ‘most valuable’ apparel brand: Report

American sportswear giant NIKE has once again been named the world’s ‘most valuable’ apparel brand after a 13 per cent surge in brand value to US $ 32 billion, according to a report by Brand Finance. The retailer’s strength score of 92, measured by marketing investment, familiarity, loyalty, staff satisfaction and corporate reputation, and its AAA+ rating, made the sportswear giant the most powerful brand in the sector and third most powerful across all sectors. “NIKE’s […]

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Levi’s tops in brand intimacy

Denim brand Levi’s has been ranked as the most intimate brand in the apparel industry according to Brand Intimacy 2017 Report by MBLM. Brand intimacy is a new paradigm that leverages and strengthens emotional bonds between a person and a brand.  The apparel industry performed slightly below the 15-industry average and comes in 7th out of 15 categories examined. The most intimate apparel brands in the US following Levi’s are: Nike, Lululemon Athletica, Under Armour, […]

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Perry Ellis is now in distribution agreements for Nike Swim

Perry Ellis International Inc., a leading designer, distributor and licens or of a broad line of high quality men and women apparel, accessories and fragrances, entered in Nike Swim distribution agreements in Latin America with R1 Sports Ltd., a distributor of Athletic focused products in Uld in SA in Argentina, Uruguay and Paraguay, and Superdeporte Plus Peru S.A.C in Peru, Bolivia and Ecuador. The offering of swim apparel and swim accessories is now launching with […]

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MAS Holdings inaugurates MAS Fabric Park

MAS Holdings (MAS), a Sri Lankan conglomerate and one of the world’s most recognized design-to-delivery solution providers in textile and clothing sector, has unveiled the plaque for its US $ 28 million MAS Fabric Park in Giriulla, Sri Lanka. The new industrial park will manufacture knitted shoe uppers as well as sportswear and activewear products for MAS’ strategic partner Nike, and bring in US $ 65-75 million in revenue for the company. MAS hopes to […]

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Review VTG 2016: Speculations about the fate of TPP cast shadow over the exhibition

The recently concluded VTG 2016 held at the Saigon Exhibition & Convention Center (SECC) in HCM City, saw 400 exhibitors from 20 countries spread out over 550 booths, displaying the latest in garment sewing and value-added technology. Also present were companies offering yarns, fabrics and accessories, amongst which Texprocil India had a prominent presence with 16 exhibitors, mostly offering cotton products. The other countries that made their presence felt were Vietnam, Australia, Thailand, Singapore, Japan, […]

December 30, 2016

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NIKE’s revenue soars in China

US-based sports giant, NIKE has announced six months financial results for the period ending on 30th November, 2016 which reveal that China has overtaken Western Europe for the brand by noting 19 per cent increase in sales, taking the revenue to US $ 2.08 billion. The sportswear brand recorded an overall revenue of US $ 16.183 billion, up 9 per cent, in the period under review. Sales have increased across all markets: North America remains the […]

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NIKE’s loss consistently widens in India

Sportswear brand NIKE continues its poor performance in India with declining sales and stretching loss in 2015-16. As per the Registrar of Companies (RoC), the retailer’s sales have dropped to Rs. 764 crore in FY 2016 as against Rs. 803 crore in FY 2015. NIKE, which is on a consolidation spree in India, has shut around 35 per cent of its stores and has pulled out of expensive bat sponsorship deals of top Indian cricketers in […]

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