SPORTSWEAR GIANT
Europe stocks slip on AI concerns, escalating Iran tensions
Asian tech benchmarks came under pressure earlier in the day as investors reassessed the sustainability of the AI-driven rally following disappointing results from major US hyperscalers in the previous week, raising concerns that the sector has become overvalued globally.
Nikola Jokic Net Worth 2026: From second-round NBA draft pick to multimillionaire - How the Nuggets star made his fortune
Drafted as the 41st overall pick in 2014, Nikola Jokic has risen to stardom as a three-time NBA MVP and a champion. By 2026, his net worth is projected to reach around $120 million, bolstered by NBA salaries and lucrative endorsements. Following a landmark supermax deal in 2022, his earnings remain impressive, with partnerships with Sprite and a prominent Chinese sportswear brand, alongside strategic investments in Serbian properties and businesses.
Rising tech costs drive EMI sales; Shadowfax Q2 profit soars
Happy Friday! Shoppers are turning to EMIs as electronics prices rise. This and more in today’s ETtech Morning Dispatch.
India’s running boom has Nike, Asics sprinting for the next $10 billion
Nike has introduced the Vegam Run, its first running shoe tailored for the Indian market. Priced at Rs 3,795, it aims to attract more consumers during a time of increasing running participation. As global sportswear brands recognize the expanding market, both Asics and Adidas are also enhancing their offerings in India. While Asics plans significant growth, Adidas is expanding its manufacturing footprint in the country.
Nike deepens India push with Vegam Run shoe launch at Rs 3,795 amid global sales slump
Nike has announced the launch of its new running shoe, the Vegam Run, aimed specifically at Indian consumers. Priced at Rs 3,795, it will become available on Flipkart and in select retail outlets starting November 1. Designed after consultations with Indian runners, this shoe emphasizes cushioning, breathability, and durability for regular use. Nike is also planning to strengthen its presence in India with future developments and product offerings.
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In 2023, Harry Kane signed a lifetime Skechers boot deal; 3 years later, how Bayern Munich and England star's royalty-based arrangement is reshaping athlete endorsements
In August 2023, he signed a lifetime deal with Skechers. The company was preparing to enter the football market and was looking for a striker like Kane. They needed a person like him to establish credibility for its new product line. This gave him an opportunity to benefit financially as the brand's football business grows.
LeBron James' Net Worth: From basketball court to investment 'Slam Dunk' - How NBA legend built his $1.4 billion fortune
Legendary basketball player LeBron James has earned in excess of $580 million in NBA salaries during his career. The reason why James stands out from other basketball superstars is that he uses his money and worldwide fame wisely to amass huge fortunes. According to Forbes, his estimated net worth stands at an incredible $1.4 billion in 2026. Apart from his massive NBA salaries, James has earned millions through endorsement deals, business partnerships and smart investments which made his fortune grow over the years.
Nike stock falls after revenue miss, NKE forecasts 2027 revenue decline and announces layoffs - here's what investors need to know
Nike stock after NKE earnings: Nike stock is down after the company reported a quarterly revenue miss and forecast a high-single-digit revenue decline for fiscal 2027. Nike also announced layoffs as part of a restructuring plan expected to generate about $2.5 billion in savings through fiscal 2031.
More layoff pain: Nike, airBaltic and Microsoft's Hellblade studio announce major job cuts
Nike is planning to implement further job cuts as part of its restructuring programme, which began in March. Meanwhile, developers at Hellblade studio Ninja Theory have reported layoffs, affecting several members of the team. European airline airBaltic is also considering cutting between 500 and 700 jobs, with decisions expected to be finalized soon. These changes are causing uncertainty among employees and may impact ongoing projects significantly.
Nike's struggles test investor confidence in CEO Hill's turnaround effort
Nike has faced significant challenges under Elliott Hill, who was brought out of retirement to stabilize the company. Despite efforts to rebuild relationships with retailers and focus on sports products, revenue continues to decline. The company announced job cuts and projected further declines in sales and profit for the upcoming fiscal year. Nike is also contending with performance issues in its markets, particularly in China.
Nike lays a big long-term bet on India with new Bengaluru campus to serve athletes and drive growth
Nike Inc plans to open a new campus in Bengaluru by FY28 to strengthen its operations in India. This campus will be crucial for supporting Nike, Jordan, and Converse brands. The decision is part of Nike's broader strategy to enhance global growth and manufacturing capabilities. The location of the campus will be disclosed next calendar year.
Nike stock plunges after shocking earnings report, company plans lay offs
Nike earnings statement shows that the company projected sales in the current fiscal year would fall by "high-single digits". Nike reported a two percent drop in quarterly profits to $712 million. Revenues fell four percent to $11.2 billion for the quarter ending August 31, the first quarter of Nike's fiscal 2027.
US Market: Nike’s position in Dow Jones index comes under pressure
Nike faces growing speculation over its future in the Dow after being removed from the S&P 100. Its weak share performance, low price and declining market value have raised questions about whether the sportswear giant could eventually exit the blue-chip index.
Nike’s shoe doesn't fit: How did the swoosh lose its winning edge?
Nike’s decline is raising questions about how the sportswear giant lost its competitive edge. Falling revenue, a collapsing market value, weaker China sales, inventory pressure and growing competition from Hoka, On, Adidas, Anta and Li Ning have challenged its dominance. CEO Elliott Hill is rebuilding wholesale, product innovation and regional strategies as Nike fights to restore growth and brand appeal.
From Nike to Starbucks, some American brands are losing aura in China
Global companies once relied on China for consistent growth and expansion. Economic challenges and strong local competitors now impact foreign brands significantly. Brands like Nike and Starbucks are losing market share to domestic rivals. However, some companies succeed by adapting to local tastes and preferences. Success in China now depends on understanding the market rather than global prestige.
US Stocks: Nike shares fall on grim sales outlook; China woes hit turnaround plans
Shares of Nike fell as investors raised alarms over the slow pace of recovery with CEO Elliott Hill at the helm for nearly two years. While the company managed a slight revenue uptick, it suffered a 17% decline in sales in China, expected to worsen. Analysts highlight a sluggish revival in both the sportswear sector and international markets, forecasting no comeback until fiscal 2028.
Adidas runs out of letter 'V' as German fans snap up World Cup shirts
Replica World Cup shirts for German players faced a temporary shortage of the letter 'V'. High fan demand for shirts of Kai Havertz, Deniz Undav, and Aleksandar Pavlovic depleted supplies. Adidas confirmed the issue was quickly resolved. Football tops with the letter 'V' are now available again online. The German team will switch to Nike from 2027.
Nike shares tumble 13% as CEO Hill’s turnaround plan faces geopolitical woes
Nike's months-long turnaround under CEO Elliott Hill faces fresh pressure as the Middle East conflict adds to the sportswear maker's struggles in key market China.
Nike stock plunges as gloomy sales forecast fans growth concerns
Nike faces stock woes and market challenges, prompting a potential shift in leadership under CEO John Donahoe's digital-focused strategy. The company's strategic pivots towards sustainability and product revamps aim to counter market pressures, signaling a critical phase for Nike's future direction and management dynamics.
Adidas investigates bribery allegations in China
"Adidas takes allegations of possible compliance violations very seriously and is clearly committed to complying with legal and internal regulations and ethical standards in all markets where we operate," it said in a statement issued in response to a Reuters query. Adidas said it could not provide further information until the investigation was completed. According to the FT, the letter alleges that Adidas staff received kickbacks from external service providers who were commissioned by the company that include "millions in cash from suppliers, and physical items such as real estate".
Adidas surges as strong momentum helps Q1 beat, triggers outlook hike
Shares were up 6.6% by 0905 GMT, topping pan-European STOXX 600 index and tracking their biggest daily gain in almost a year.
Kit sponsorship deal with Adidas runs until 2028, BCCI says
BCCI secretary Jay Shah, who confirmed the deal with the German sportswear giant on Monday, said Adidas would design and manufacture jerseys, kit and other merchandise for India's men's, women's and Under-19 teams. Financial terms of the deal have not been released
BCCI signs on Adidas as kit sponsor for 5 years in 250-cr deal
The deal, which will begin with the ICC World Test Championship next month and end in March 2028, will see Adidas becoming the official kit sponsor of the Indian cricket team.
US sportswear giant Under Armour to appoint local distributor for India operations
One of the people said the company is considering handing over the local distribution rights to a team led by Tushar Goculdas, the current managing director of Under Armour India. Goculdas and Under Armour did not respond to an email seeking comment.
A celebration of individuality: Adidas unveils VRCT jacket with a customisable badge
Its launch saw Swapna Barman, Dipika Pallikal and Simranjit Kaur in attendance.
Puma edges past rivals in India sales to emerge as top sportswear brand
Puma reported sales of Rs 1,157 crore for a period of 12 months ending December 2018 up from Rs 958 crore for the corresponding period a year ago.
Sportswear giants like Adidas, Nike scramble to make the most of 2014 FIFA world Cup
Marketers like sportswear giants Adidas and Nike, are scrambling to make the most of this year's biggest sporting event.
SFIO finalising report into alleged fraud at Reebok
The Serious Fraud Investigation Officer is finalising its report into the alleged financial irregularities at sportswear maker Reebok India.
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