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Some 130,000 workers at Taiwanese-invested footwear maker Pou Chen Vietnam, a contract manufacturer for giants like Nike, Adidas and Puma, will enjoy a 30% increase in Tet bonuses this year. That puts the annual windfall for employees at the global shoe…
Nike has introduced its latest retail concept, Nike Style, with the first store opened in South Korea, to be followed by more across multiple international markets. The Nike Style concept store is located in the bustling Hongdae neighbourhood, which is known…
Sportswear giant Nike has collaborated with GMG to launch a new-generation store at Vivo City in Singapore. According to Nike, the 5900sqft store is intended to bring customers closer to sports and closer together. It has a wide selection of innovative gear,…
Nike forecast first-quarter revenue below estimates as it expects to discount more and wrestles with pandemic-related disruptions in China, its most profitable market. The company’s shares fell 3% to $107 after the bell. Analysts are mixed about Nike’s…
H&M has shut its flagship Shanghai store, its latest closure in China where consumer demand has slumped amid COVID-19 lockdowns and the fast-fashion retailer has borne the brunt of a backlash against companies that refuse to use Xinjiang cotton. Although it…
The new store has been launched by GMG as part of the company’s plans to ramp up its investment in the Asia market. The new Nike store spans over 2171sq ft and is situated in the East Point City shopping mall in Hang Tau district. It is home to sportswear for…
Nike is deactivating its Run Club app in China, becoming the latest Western company to reconfigure its business in the world’s second largest economy. The US sportswear giant posted a notice to runners in mainland China, saying the app will “cease service and…
German sportswear company Adidas said on Thursday it would grow in its key market of China in 2022 even after it was hit by renewed pandemic restrictions and the aftermath of a consumer boycott of Western brands. The comments come after Manager Magazin…
Sneaker giant Nike sued online reseller StockX in New York federal court on Thursday for selling unauthorized images of Nike shoes, marking the latest lawsuit over digital assets known as non-fungible tokens. Nike said StockX’s NFTs infringe its trademarks…
Thousands of workers of Taiwanese-invested footwear maker Pouchen Vietnam, a Nike contract manufacturer, struck work Friday, demanding the same Tet bonus as last year. They refused to return to work after finishing their lunch to protest the company’s policy…
Sportswear maker Nike is confident the resumption in production in Vietnam will boost the company’s future recovery. “Compared to ninety days ago, we are increasingly confident supply will normalize heading into fiscal 2023” as all factories in Vietnam were…
Viettien Garment Corporation has not lost any of its Nike orders to other countries since the American company could not find suitable alternatives, its chairman said. “Until October, when we reopened, Nike has not moved any of its orders from Viettien to…
Nearly 200 Vietnamese contract manufacturers for Nike have resumed production after a period of suspension due to Covid-19, a company executive told Vietnamese Prime Minister Pham Minh Chinh. Nike is committed to further investing and expanding in Vietnam,…
Nike’s updates to its full-year sales outlook on Thursday will likely answer that pressing question for Wall Street as the world’s largest sportswear maker deals with unprecedented supply challenges ahead of the holiday season. Three months ago, Nike gave a…
After launching the Rise concept store last year to Guangzhou, China, sportswear giant Nike has unveiled a new version of the concept which will launch in Seoul, South Korea. The store will feature a new digital platform, Sports Pulse, which will seek to…
Taiwan’s Pou Chen, which makes footwear for companies such as Nike and Adidas, suspended operations at its plant in Ho Chi Minh City on Wednesday as COVID-19 curbs hit factories in the country’s business hub. Vietnam’s health ministry said in a statement that…
