Staying competitive: The Nike House of Innovation store on Fifth Avenue in New York. The firm regularly evaluates its business and makes pricing adjustments as part of its seasonal planning. — Bloomberg
NEW YORK: Nike is planning to raise prices of some products from next week and will sell items on Amazon after six years, the company says.
The footwear retailer will increase prices on apparel and equipment for adults between US$2 and US$10, while those priced between US$100 and US$150 will see a US$5 hike, it said.
The company sources a significant portion of its footwear from China and Vietnam. With the critical back-to-school shopping season approaching, Nike will not raise prices for children’s products.
“We regularly evaluate our business and make pricing adjustments as part of our seasonal planning,” Nike said.
Prices for shoes costing more than US$150 will increase by up to US$10, while products costing less than US$100 will not see any hike. Nike’s Air Force 1 shoes, which cost US$155, are exempt from the increase. CNBC first reported on the price increases.
German sportswear brand Puma had said earlier this month that it had reduced shipments from China to the United States and might increase prices in the country due to the new tariffs.
Nike will be back on Amazon as the footwear maker works to regain market share from newer and trendier competitors amid a turnaround push under CEO Elliott Hill.
Nike’s products on Amazon are currently sold by independent merchants, and the company stopped selling on the eCommerce platform in 2019 as it shifted focus to sales on its own websites and in stores.
Its return to Amazon in the United States was part of its investments in its marketplace to reach more consumers, which also included expanding to new physical retailers such as department store chain Printemps. North America was Nike’s biggest market by total revenue, as of 2024.
Amazon notified some of those merchants that it will ban them from selling certain Nike products from July 19 as it was working with Nike directly, the Information reported, citing a message sent to merchants by the company.
“We’re providing an extended period of time for the small number of sellers affected to sell through their inventory of overlapping items,” an Amazon spokesperson said. — Reuters
