Nike will push with ecommerce drive after 70% sales increase

Nike has revealed plans to put millions into expanding its ecommerce strategy after seeing recent investments in its latest financial quarter spark a 70 per cent uplift in online revenue, reports Market Week.

Trevor Edwards, president of Nike Brands, told analysts on a conference call yesterday evening (26 September), that its online platforms would not cannibalise its wholesale or retailer partnerships:

“Direct-to-consumer plays a role that’s been a complementary part of the marketplace. So we’re able to actually bring more dimension to the market by serving unique segments. And that allows the market to be more segmented and more differentiated”, added Edwards…The other piece that we’ve talked about is the idea of us being a better retailer ourselves, so we can be a better wholesale partner. And that is actually working, so we’re able to transfer a lot of the learnings that we have done in our own stores, working with our retail partners around the world to accelerate their businesses too. To put it simply, Q1 was a great quarter, and we’re just getting started.”