Nike Set to Increase Prices Next Week, Resume Sales on Amazon, Reports Indicate
– Nike plans to increase prices on various items beginning next week and will resume sales through the major online retailer Amazon, according to media reports. This move comes as President Donald Trump’s tariffs disturb international supply chains and affect retailers’ profitability.
The firm, sourcing much of its shoes from China and Vietnam, plans to raise costs for adult clothing and gear by $2 to $10 each, according to CNBC. Additionally, footwear with price tags ranging from $100 to $150 will go up by $5.
Nike plans to resume sales of its products on Amazon after a hiatus of six years, according to reports from The Information. This move comes as the shoe company aims to recapture lost market share from up-and-coming and more fashionable rivals during a period of revitalization led by CEO Elliott Hill.
Nike and Amazon did not promptly reply to requests seeking their input.
Footwear priced over $150 will have their costs raised by $10, whereas items under $100 won’t face any price increases. According to CNBC, citing an insider, Nike’s Air Force 1 sneakers, at $155 each, are excluded from this surcharge.
As the crucial back-to-school shopping period approaches swiftly, the firm plans to keep present pricing for kids’ items, the report noted.
Nike’s items available on Amazon are presently offered by individual sellers. The company ceased its direct sales efforts on Amazon in 2019 after a two-year presence there, opting instead to concentrate on boosting sales through its proprietary sites and physical retail locations.
Amazon informed several sellers that they would be prohibited from offering specific Nike items starting July 19th, according to the report by The Information, which referenced an email sent by Amazon to these vendors as part of their collaboration with Nike.
The German sports apparel company Puma mentioned earlier this month that they have decreased deliveries from China to the United States and could raise their pricing within the country as a result of tariffs.
(Reported by Juveria Tabassum in Bengaluru; Edited by Mohammed Safi Shamsi)