Doing Business | Sales & Marketing

June 30, 2017

Nike is planning to start selling directly through Amazon

Sportswear giant Nike is planning to open a store on Amazon.com, CNN reports. Mark Parker, Nike's CEO, reportedly confirmed that the duo are currently testing out a partnership.

"We're in the early stages but we really look forward to evaluating the results of the pilot," Parker reportedly said.

Parker's comments come a week after a Goldman Sachs analyst hinted that Nike was going to start selling directly through Amazon's platform.

Nike products can already be found on Amazon but they're sold by third party sellers. Parker reportedly said that Nike will be able to "elevate the way the brand is presented" by selling directly through Amazon, adding that the company will gain more control over how its products are marketed.

He also said that the partnership with Amazon was part of a wider effort to increase online sales amid falling sales in physical stores as people continue to move to online shopping, according to CNN.

The Oregon-based company has been going through a tough time lately and the company announced on June 15 that it is cutting over 1,000 jobs as sales growth has slowed amid increasing competition from the likes of Adidas and Under Armour.

However, things were looking more positive this week, as the company announced quarterly revenues of $8.9 billion (£6.8 billion), up 5% on the previous quarter.

Nike isn't the only major retailer looking at selling directly through Amazon. Ikea, the Swedish homeware maker, is reportedly planning to open a store on Amazon.

An IKEA spokesperson told Business Insider earlier this month: "At IKEA we are curious and want to explore new areas and get new insights on how to reach and serve more of the many people. One part of that is that we are open to the idea of piloting and testing making IKEA products accessible through other online platforms than our own. The ambition is to start this pilot within the coming couple of years.

"Our main focus remains of course with our existing sales channels, including IKEA.com and stores, where a lot of exciting development is going on."

Text by Business Insider
 

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