Nike ends sales in Israeli stores

Israeli retailers are furious after international sporting goods giant Nike announced on Sunday that it would stop working with them to market its products. The measure will take effect on May 31, 2022, Nike said.

As one of the most popular sports brands in the world and in Israel, the loss of these sales would weigh heavily on the operations of hundreds of local sports stores.

In a letter sent to store owners on Sunday, Nike said: “Following a comprehensive review by the company and taking into account the evolution of the market, it has been decided that the continuation of the business relationship between you and the The business no longer matches that of the business. policy and objectives.

Soccer – Hapoel Tel-Aviv Training – Ibrox Stadium, Glasgow – Scotland – 06/07, 21/2/07 General View / Nike Mandatory (Credit: ACTION IMAGES / LEE SMITH VIA REUTERS)

The move is in line with Nike’s global plans to reduce the number of stores it works with, preferring to encourage customers to purchase its shoes, clothing and gear on its website and at company-owned stores.

Nike believes it can make much higher profits and control its premium product experience by managing the entire sales process itself. The company also ended its relationship with Amazon in 2019.

Nonetheless, stores in Israel say the move would hurt their ability to remain profitable. Some may opt for parallel imports, receiving Nike products from independent suppliers, but this would increase prices.

About Mike Stevenson

Check Also

It’s time to unplug the black market from forex

Sunday mail Victoria Ruzvidzo Zimbabwe has a legendary penchant for miscarrying or shooting themselves in …