Nike is set to increase prices on apparel, equipment, and footwear for adults starting June 1. However, children’s products under $100, Air Force 1s, and Jordan clothing or accessories will remain unchanged. The price hikes range from $2 to $10 for adult clothing, $5 for shoes between $100 and $150, and up to $10 for footwear over $150.
The move comes as Nike aims to boost revenue and market share under new CEO Elliott Hill. To achieve this, the company is expanding its presence on Amazon, a platform it left in 2019. This decision is part of Nike’s efforts to improve online services, including launching AI-powered conversational search and elevating retail experiences.
Amazon has confirmed that new Nike products will be added to their platform, sourced directly from the brand. The move aims to expand the selection for U.S. customers while providing a prolonged period for affected independent sellers to sell through their inventory of overlapping items.
Source: https://abcnews.go.com/GMA/Living/nike-raise-prices-return-selling-amazon/story?id=122107840