Nike will increase costs and go back to Amazon
Nike announced Wednesday that it will begin raising the pricing of some of its products starting next week and will sell its products on Amazon after six years.
Prices for adult clothing and equipment will increase by $2 to $10, while those that cost between $100 and $150 will increase by $5.
A large amount of the footwear produced by the company is sourced from China and Vietnam. Nike will not increase the cost of its kids’ merchandise as the important back-to-school shopping season draws near.
“We periodically evaluate our business and make price adjustments as part of our seasonal planning,” Nike said.
As part of a turnaround effort led by CEO Elliott Hill, Nike will make a comeback to Amazon in an attempt to reclaim market share against more recent, trendy rivals.
In 2019, Nike moved its attention to selling on its own websites and in-store, and as a result, it discontinued selling on Amazon. Today, Nike products are offered through independent merchants.
