Nike news and archive

Nike faces five million dollar lawsuit over closure of crypto business

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,...

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Nike Doubles down on China with new Shanghai creative studio

As Washington intensifies efforts to lure companies back to domestic manufacturing—dangling tariff exemptions as incentives—Nike has opted to chart a different course. The American sportswear giant announced this week that it will deepen its investment in China, unveiling plans to open a new creative studio in Shanghai. The facility will fall...

Fashion

Celine’s new pilates collection is the latest intersection of high-end luxury and sports

A kettlebell wrapped in rich cognac calfskin commands a price of 2,400 euros. A set of steel dumbbells, adorned with monogrammed canvas, comes in at 1,900 euros. A cork yoga mat, complete with detachable leather straps, is priced at 850 euros. Luxury fashion’s relationship with sports has transcended traditional sponsorships, evolving into a...

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Nike struggles amid sales slump and layoffs, forecasts margin pressure

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...

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Nike partially wins patent lawsuit against Lululemon

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...

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Liverpool FC switches from Nike to Adidas

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....

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Two million dollars worth of Nike shoes stolen from US freight train

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...

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Nike shares rise after announcement of Skims partnership

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...

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Nike and Skims could spell a new future for athleisure

Nike and Skims have just unveiled a partnership that goes beyond a simple collaboration and will be a full-scale joint venture. The launch of NikeSkims, a completely new brand, signals a strategic bet by both companies on the ever-growing intersection of sportswear, shapewear, and lifestyle fashion. If successful, which is highly likely, this...

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Nike and Skims launch joint sportswear brand NikeSkims

The US sporting goods giant Nike Inc. and the shapewear brand Skims, co-founded by Kim Kardashian, unveiled a joint project on Tuesday. The two companies want to launch the new sportswear label NikeSkims together. The range will include training clothes, shoes and accessories for women. The label is set to celebrate its US premiere in spring The...

Fashion |In Pictures

Nike celebrated the power of women’s sport during Super Bowl

Sportswear giant Nike placed women athletes centre stage during the male-dominated Super Bowl LIX, spotlighting stars such as gymnast Jordan Chiles, basketball players Caitlin Clark, A’ja Wilson and Sabrina Ionescu, sprinter Sha’Carri Richardson, and footballer Sophia Wilson. The campaign showcased Nike’s new brand anthem, ‘So Win,’ designed to...

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Nike licensee Zelus Sport secures new investment

Zelus Sport, the exclusive global licensee for Nike’s Team Sports division, has secured a new investment from London-based buyout firm Sullivan Street Partners. The latter intends to help accelerate and support Zelus’ “ambitious growth plans” to strengthen its position in the sports apparel market. In the announcement, Sullivan Street said that...