Nike announced plans to go after the growing middle class in China and other developing markets to increase annual revenue by 41 percent by 2015. The company will pursue acquisitions and partnerships, as well as open more Nike brand stores, expand existin

April 6, 2018

1 Min Read

Nike announced plans to go after the growing middle class in China and other developing markets to increase annual revenue by 41 percent by 2015. The company will pursue acquisitions and partnerships, as well as open more Nike brand stores, expand existing product lines and build brands such as Converse and Umbro.

"Nike has unlimited opportunities and limited resources," says Mark Parker Nike's chief executive officer. "Our job is to be surgical and aggressive with these resources."

Nike hopes to lure Chinese shoppers with offers such as lightweight basketball shoes with no stitching and double its business in the country within five years. China accounted for 9.7 percent of Nike's revenue in the third quarter ended Feb. 28, and helped the company post its first sales growth in five quarters. Nike predicts that in China, central and Eastern Europe and emerging markets, sales will grow by a low double-digit percentage while revenue in North America, Western Europe and Japan will grow in the mid-single digits.

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