Earlier, as part of its business evaluation and seasonal planning, Nike, a footwear retailer, is planning to increase the prices of a few products from next week
Following Nike’s lead, companies like Adidas and Puma are also expected to increase prices of running shoes and sportswear in the United States (US), as tariffs on imports drive costs up for retailers, as per a report by Reuters.
The report added that both brands did not want to be the first one to take the price hike route, and they wished to see the steps taken by rivals. Whether there will be price rises by other brands will depend on their assessment of US shoppers’ willingness to pay, the report added.
Earlier, as part of its business evaluation and seasonal planning, Nike, a footwear retailer, is planning to increase the prices of a few products from next week, as per a report by Reuters. The company is also set to make its return on Amazon after over a decade.
The company will be raising the prices on apparel and equipment for adults between USD two and USD 10, as per the report, which added that those priced between USD 100 and USD 150 will be seeing a hike of USD five.
Nike will not be raising the prices for children’s products as the critical back-to-school shopping season is approaching. The report noted that the company sources a significant portion of its footwear from Vietnam and China. (With Reuters Inputs)
