Saturday, October 15, 2011
Nike plans to expand in China
Nike aims to double its revenue in China in the next four years. Currently their products are available at more than 7,000 stores in China and their plans are to grow by expanding to smaller cities. According to the company website, orders for Nike brand athletic footwear and apparel, scheduled for delivery from September 2011 through January 2012, totaled $8.5 billion. This is 16 percent higher than orders reported for the same period last year. Nike has been featuring Chinese athletes, such as Liu Xiang, the Olympic gold medalist for the 110-meters hurdle, as well as Li Na, grand slam winner at the 2011 French Open, and Yi Jianlian, the NBA player. China is the brand's second-largest market after the United States.