Senior Correspondent, IndianRetailer.com & Retailer Magazine Jun 17, 2017 / 2 MIN READ
Oregon-based sportswear maker, Nike Inc. has said that it plans to sell more shoes directly to customers online as part of a restructuring in which it plans to cut about 1400 jobs. It will also reduce the number of sneaker and clothing styles it makes by a quarter and focus on hot sellers.
According to the company, the moves will help it offer more products to customers faster.
Mark Parker, CEO, Nike, said, "We’re getting even more aggressive in the digital marketplace,” said CEO Mark Parker.
The company said a main focus will be the 12 key cities in 10 countries that it expects to represent more than 80% of its projected growth through 2020. It also said it will make its apps, where shoppers can find and buy sneakers, available in more countries.
Nike said the jobs cuts represent about 2 % of its 70000 employees around the world.
The store, which has served fitness enthusiasts who live, work, and play in South Delhi’s Saket District for the past 15 years, brings a renewed focus on women and member services to inspire Delhi-ites to make sport a daily habit.
The two-story, 743-square-meter store is fully equipped to serve athletes through membership offerings which enables consumers to make sport a daily habit.
Nike Inc said it had bought virtual sneaker company RTFKT for an undisclosed sum as the sportswear giant looks to quickly expand its footprint in the fast-growing "metaverse".
The results also weighed on shares of suppliers including Nike Inc, Adidas and Under Armour. Nike was down 3.8 percent and was the biggest drag on the Dow and the S&P 500.
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