Nike CEO is stepping down but will remain executive chairman
Nike Inc. Chief Executive Mark Parker will hand the reins to former EBay Inc. head John Donahoe next year, entrusting an e-commerce veteran with the job of running a $40-billion shoe-and-apparel giant that’s increasingly relying on data and technology to keep its edge.
Donahoe will take the role of president and CEO at Nike on Jan. 13, with Parker remaining in charge of the board as executive chairman. Parker, who has been a Nike employee for 40 years, said in a memo to employees that he would remain closely involved with product design and marketing.
“To be clear, I’m not going anywhere,” he said. “I’m not sick. There are no issues I’m not sharing. I strongly believe the best way for us to evolve and grow as a company is to bring in a phenomenal talent to join our team who has long been part of the Nike family.”
Parker turns 65 next year, and succession has been a big question at Nike for years.
The decision to pick a leader outside Nike’s executive ranks followed a shake-up over misconduct last year and a controversy about doping in sport in recent weeks.
Trevor Edwards, once seen as a CEO candidate, abruptly stepped down last year amid a review of sexist behavior at the company. Other executives were ousted as the world’s largest athletic brand tried to burnish its image.
Three weeks ago, renowned track coach Alberto Salazar was banned from the sport for four years by the U.S. Anti-Doping Agency for running experiments with supplements and testosterone that were bankrolled and supported by Nike, along with possessing and trafficking testosterone. Nike announced that it was shutting down its elite Oregon Project running program overseen by Salazar in the wake of the scandal.
Documents released by the U.S. Anti-Doping Agency showed that Parker was directly aware of an experiment committed by Salazar.
Parker, who joined the company in 1979 as a footwear designer, has been CEO since 2006. In 2017, he took a 70% compensation cut after a rough year for U.S. sales and the company’s stock price.
In Donahoe, Nike gets an executive who has served on its board since 2014 but also brings an outsider perspective.
He’s currently president and CEO of ServiceNow Inc. and chairman of PayPal Holdings Inc. Donahoe previously served as president and CEO of EBay and head of Bain & Co.
“I’ve been proud to be connected to Nike through my role on the board and now look forward to being a full-time member of the team,” Donahoe, 59, said in a statement.
Nike investors took the change in stride. After an initial dip and then a gain, the shares were little changed in extended trading on Tuesday. The stock was up 29% this year through the close.
Nike has felt pressure to show it’s more of a tech company than a shoe seller.
It recently unveiled its store of the future in New York, a retail experience full of new technology that can be unlocked only by members using the Nike app. The company also recently unveiled a new basketball shoe that tracks data on the user and whose laces can be tightened through the application.
This year, Nike purchased Boston-based data science firm Celect, a move that the company said would bolster its understanding of consumer patterns. That acquisition came a year after Nike bought Invertex Ltd., an Israeli computer vision start-up. That technology was eventually unveiled as the driver of Nike Fit, an expansion of the Nike app that lets customers measure their feet at home.
The common thread throughout all this is the Nike app. Nike members spend three times more at Nike.com than guests do, a metric that Nike executives attribute to the company’s ability to better serve those that they know the most about.
Nike’s rival Under Armour Inc. will also have a new leader in the new year. On the same day Nike made its announcement, Under Armour said founder Kevin Plank will step aside as CEO in January and be replaced by Chief Operating Officer Patrik Frisk.
Bloomberg and the Associated Press were used in compiled this report.
Nike’s new CEO is set to double down on the company’s success selling online. Here’s what analysts are saying about John Donahoe.
- Nike CEO Mark Parker is stepping down from his role and will be replaced by former eBay chief executive John Donahoe in January, the company announced Tuesday.
- Some analysts expressed initial confusion as to why Nike didn’t promote from within its ranks, yet many praised Donahoe’s experience leading digital businesses and his time on the sportswear brand’s board of directors.
- Here’s what analysts had to say about the CEO change and Donahoe’s appointment.
- Watch Nike trade live here.
Nike CEO Mark Parker is stepping down from his role at the sportswear giant after leading it for 13 years, and his replacement is earning praise from Wall Street for his background in online sales.
John Donahoe will replace Parker in January after sitting on Nike’s board since 2014. Donahoe was eBay’s president and CEO from 2008 to 2015 and more recently served as chairman of PayPal. He is currently president and CEO of cloud-computing company ServiceNow.
“This is an exciting time for Nike where we see brand strength and momentum throughout the world and great opportunity for future growth,” Parker said in a statement.
He told Nike employees in an internal memo that he’s “not going anywhere,” according to Bloomberg, and will serve as executive chairman of Nike’s board of directors.
Read more: Wall Street has fallen in love with stocks that pay big dividends, and Goldman says they’re still the cheapest in a decade. Here are the 13 the firm recommends most.
Nike traded at $92.90 per share at 1:44 p.m. ET Wednesday, up roughly 25% year-to-date.
The sportswear retailer has 24 “buy” ratings, nine “hold” ratings, and two “sell” ratings from analysts, with a consensus price target of $101.90, according to Bloomberg data.
Here’s what some analysts had to say Wednesday about the CEO announcement, and how Donahoe may push Nike higher in the age of e-commerce.
Needham: “A highly accomplished technology & software executive”
Pier Marco Tacca/Getty Images
Though Parker proved himself a successful CEO over his 13-year reign, Donahoe joins as “a highly accomplished technology & software executive” while Nike invests more in its online sales, Needham analyst Rick Patel wrote.
The sportswear brand told Needham that the combination of Donahoe as CEO and Parker as executive chairman makes for a “dream team.”
Donahoe’s past experience as a consultant and his support from Parker should also silence critics pointing out that the ex-eBay executive hasn’t led a branded company before, Patel said.
“Given the company didn’t promote operational leadership from within, we think that Nike intends to put even greater emphasis on its successful Digital efforts to engage consumers directly,” he added.
Needham maintains a “buy” rating and a $98 price target.
Wedbush: “Large sneakers to fill”
Shoshy Ciment/Business Insider
Momentum is strong as Nike stock brushes up against record highs, and Donahoe’s prior positions set him up to build on the company’s online efforts, Wedbush said.
“Mr. Donahoe appears to have strong leadership, digital, and NKE experience as Mr. Parker remaining helps ensure a smooth transition,” analysts Christopher Svezia and Paul Nawalany wrote.
The analysts also praised Donahoe’s work to improve Nike’s culture. They cited the sportswear company’s statements on social issues like climate change and gender inequality, as well as inclusivity efforts like plus-sizing, the Nike Pro Hijab, and para-sports.
Despite Parker setting a high bar, Donahoe has the résumé to keep shareholders happy and improve on the company’s successful new ventures, the analysts said.
“In the end, though Mr. Donahoe has large sneakers to fill in taking over this large, globally iconic brand, he appears to be a formidable choice to lead NKE and may help further accelerate its digital and general market dominance,” they wrote.
Wedbush maintains an “outperform” rating and a $100 price target.
Credit Suisse: “Nike remains one of our top picks”
Shoshy Ciment/Business Insider
The team of Credit Suisse analysts led by Michael Binetti initially wondered why Donahoe would leave ServiceNow and why Nike looked externally for a new chief executive. Yet following conversations with Nike, the team said they “don’t see significant reason for stock concern related to those questions.”
“Nike ran a detailed search both internally and externally, and prioritized a CEO with the skillset to execute the company’s significant digital transformation,” they wrote.
Credit Suisse praised Donahoe’s past roles at large digital firms, and deemed his years on Nike’s board as even more important to his transition into the top job. The new CEO is positioned to capitalize on recent innovations and will likely keep the company on its highly successful path, the analysts wrote.
“We don’t see any fundamental changes to Nike’s existing strategy or corporate priorities on the news of the CEO replacement,” they said. “Nike remains one of our top picks.”
Credit Suisse maintains an “outperform” rating and a $112 price target.
UBS: “One mild concern”
Alex Tai/SOPA Images/LightRocket via Getty Images
UBS analyst Jay Sole struck a slightly different tone, noting he had “one mild concern” about Nike’s selection.
“Mr. Donahoe lacks day-to-day experience as a CEO of a large athletic wear company,” Sole wrote.
He quickly softened the blow, noting the executive “didn’t have a strong background in enterprise software” before joining ServiceNow and has since helped build the brand.
Nike’s strong sales growth sets firm ground for the transition, and should continue “business as usual for Nike,” Sole wrote.
“The good news is Nike has made this move from a position of strength (sales trends remain robust) and set a plan for a smooth transition,” he said. “This increases the likelihood in our view Nike’s long history of strong EPS growth can continue into the out-years.”
UBS reiterated a “neutral” rating and $95 price target.
Nike’s Parker hands over CEO role to former eBay chief
By Nivedita Balu, Noor Zainab Hussain
(Reuters) – Nike Inc’s NKE.N long-time chief executive officer, Mark Parker, will step down next year and be replaced by board member and former eBay CEO John Donahoe, who will be tasked with strengthening the sportswear maker’s online strategy.
FILE PHOTO: Nike CEO Mark Parker speaks during a launch event in New York, United States March 16, 2016. REUTERS/Brendan McDermid
Donahoe, who has been on Nike’s board since 2014, will join the sneaker maker from cloud computing firm ServiceNow Inc NOW.N, where he was CEO for more than four years. Prior to that, he led online retailer eBay EBAY.O for the seven years through 2015.
Nike’s Parker had said last year he would remain CEO and chairman of the footwear maker beyond 2020, with his remarks coming in the midst of a series of executive departures and probes on workplace complaints.
The move comes days after the world’s biggest footwear maker shut down its Nike Oregon Project training group, following the recent four-year ban of the center’s founder and coach Alberto Salazar by the U.S. Anti-Doping Agency (USADA).
Nike did not give any reason for Parker’s exit from the top job. In an interview to CNBC, Parker said the change was unrelated to the Oregon Project or any other issues.
Parker joined Nike as one of its first footwear designers in 1979, and held several roles during his tenure at the company before taking charge as its top boss in 2006.
Credited with creating the popular Nike Air sneakers as well as other pioneering products, Parker, in the past few years, oversaw Nike’s shift to selling directly to customers online and its success in international markets, particularly China.
He will become Nike’s executive chairman and continue to lead the board after Donahoe takes over as CEO.
“We like that (Donahoe) comes from technology and that he comes from the digital space and we like that he is a strategist and a leader … things that have made Nike positive have been because of those sort of strengths,” Jane Hali & Associates analyst Jessica Ramirez said.
Nike’s digital revenue surged 35% in the last fiscal year, with the company expecting online sales to account for about a third of its business by 2023.
Edward Jones analyst Brian Yarbrough said Donahoe’s e-commerce experience could help with Nike’s online push, while Parker could focus more on product development, one of his key strengths.
HITS AND MISSES
During Parker’s tenure, Nike’s stock surged more than nine-folds. They were marginally higher in extended trading on Tuesday.
Over the past year, however, Parker faced a number of speedbumps as he chased his target of $50 billion in annual sales. He apologised to staff last year after a series of workplace complaints at the company.
Nike also came under fire for featuring an ad with former NFL player Colin Kaepernick, who sparked a national controversy by kneeling during the national anthem.
“Nike has had their fair share of scandals and issues … and they didn’t really go out and look externally. It definitely seems like it could be part of” the Oregon scandal, Yarbrough said, referring to Parker’s departure.
Separately, ServiceNow said it appointed Bill McDermott as its CEO. McDermott helmed software maker SAP from 2014 until recently. ServiceNow shares fell about 16% on the news.
McDermott stood down earlier this month after a decade building up SAP SAPG. DE as the world’s leading enterprise software company, handing the task of completing its transition to cloud computing to new co-CEOs Jennifer Morgan and Christian Klein.
Earlier in the day, Nike rival Under Armour Inc UAA.N said its founder and CEO Kevin Plank would step down, giving his responsibilities to Patrik Frisk, a company insider, hoping a change in leadership will help battle brutal competition from Nike and Adidas in the United States.
Reporting by Nivedita Balu and Noor Zainab Hussain in Bengaluru; Editing by Shailesh Kuber and Saumyadeb Chakrabarty
90,000 Nike shares jump 14% after posting record earnings
Nike on Thursday after the close of trading announced a successful fiscal year 2021 conclusion, beating Wall Street’s expectations. Nike’s quarterly revenues nearly doubled, hitting a record $ 12.34 billion in company history.
Nike (NKE) shares rose 14.1% after the close of trading on Thursday, as investors hailed record earnings growth for the global sportswear leader.
Sales of the US company Nike rose in every major region, including China, refuting fears of a boycott by Chinese consumers due to tensions between countries.
If the upside momentum continues during the trading day on Friday, Nike stock could hit a new high this year.
Nike is up 33.5% in the past 12 months but is down 5.56% YTD as investors worried about the company’s position in China, Nike’s largest fast-growing sales region.
The company’s results for the fourth quarter of fiscal 2021 and for the full year ended May 31, showed a sharp contrast to last year, when Nike faced the closure of offline stores worldwide and a sharp drop in demand for its products during the pandemic and quarantines. restrictions.
Nike’s worldwide sales from March to May showed the realization of deferred consumer demand.
Nike shares were also supported by a 10% revenue forecast for the current fiscal 2022 and Nike’s increasingly strong “direct” online sales through its own online stores and apps.
Nike Q4 2021 Ft. year
Nike’s Q4 earnings per share were $ 0.93, up $ 0.43 from analysts’ estimates of $ 0.50.
Net profit for the quarter was $ 1.5 billion compared to a loss in the fourth quarter of 2020 of $ 790 million.
Nike’s quarterly revenue grew 95% to $ 12.34 billion, up from an analyst estimate of $ 11.09 billion. Nike’s quarterly revenue and earnings statistics for the last 2 years are available here.
However, growth was observed in each of the geographic regions of Nike sales:
- 90,034 Revenue from sales in North America increased 141% (yoy) to $ 5.38 billion.
EMEA (Europe, Middle East and Africa): + 124% to $ 2.98 billion.
Greater China Region: + 17% to $ 1.93 billion.
- 90,034 Asia Pacific & Latin America: + 82% to $ 1.46 billion
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90,021 Nike Results for All FY2021 year
For the full year, NIKE’s revenues increased 19% to $ 44.5 billion, and net income jumped 123% to $ 5.7 billion.
The company highlighted Nike’s success in delivering Consumer Direct Acceleration across the market.
“Inspired by our dynamic, we continue to invest in innovation and our digital leadership to lay the foundation for Nike’s long-term growth,” said CEO John Donahue.
The company said it expects direct sales to account for about 60% of total sales in 2025, up from about 40% today.
Nike’s year-end cash balance was $ 13.5 billion, up $ 4.7 billion from last year.
Nike expects revenues to grow by about 10% in fiscal 2022 to more than $ 50 billion. Management also expects profit margins to increase as the company sells more products directly to consumers.
Nike also expects sales to rise in China as it “sees consistent improvement in sales in the country”.
90,000 Nike Top Shareholders – Financial Encyclopedia
Nike, Inc. (NKE) is a global designer, marketer and marketer of athletic shoes, sneakers, apparel, equipment, services and accessories. Most of Nike’s products are produced by independent contractors. The company sells its products directly to the consumer through its retail outlets, its digital platforms, and through independent distributors and retailers.
Nike’s main shareholders are Phil Knight, Mark Parker, Andrew Campion, Swoosh LLC, Vanguard Group Inc. and BlackRock Inc. (BLK).
Nike’s 12-month interim revenues and net income are $ 37.4 billion and $ 2.5 billion, respectively. The company has a market cap of $ 151.5 billion. All data as of July 15.
Below we take a closer look at the six major shareholders of Nike. Note that Nike has two classes of stock.Class A, which are not available on the open market and are convertible to Class B shares at a 1 to 1 ratio; and Class B, ordinary Nike shares available to all investors. The main difference is that Class A shareholders elect 9 out of 12 members of Nike’s board of directors, while Class B shareholders elect the remaining 3. Nike co-founder Phil Knight and his son Travis Knight, along with the holding companies and trusts they control, own more than 97% of the outstanding Class A shares. This allows the Knight family to exercise effective control over Nike, even if it is a publicly traded business.
“Insider” refers to persons in senior management positions and members of the board of directors, as well as to persons or organizations that own more than 10% of the shares of the company. In this context, it has nothing to do with insider trading.
90,086 Top-3 Individual Insider Shareholders
Billionaire Philip Knight directly holds 29,154,487 Class A shares and 11,385,687 Nike Class B shares, representing 9.3% of Class A shares outstanding and 0.9% of Class B shares as of April 2, 2020.; As of this date, Knight owns 2.6% of all issued shares.6 In 1964, Knight co-founded Blue Ribbon Sports, later renamed Nike, along with his former athletics coach Bill Bowerman. Over the next six decades, Nike will become Nike. one of the largest and most influential brands in the world of athletic footwear and apparel, making Knight one of the richest men in the world. Knight ran the company as president from 1968 to 1990, save for a short hiatus, and then again from 2000 to 2004.Knight has served on the board of directors since the 1960s and stepped down as chairman in June 2016. Honorary Chairman, non-voting member of the Board of Directors. He and his family are ranked 25th on the Forbes billionaire list with a net worth of $ 39. 3 billion.
Mark Parker owns 1,450,813 shares of Nike, which is approximately 0.09% of the issued shares. Mark Parker is Nike’s Executive Chairman and was previously President, CEO and Chairman of the Board of Directors for 14 years.Parker stepped down as CEO in 2019. Parker’s career at Nike began in 1979 as a shoe designer and has also held leadership positions at the company in businesses such as Consumer Product Marketing, Global Footwear and the Nike brand.
Andrew Campion owns 233,156 Nike shares, representing approximately 0.01% of the issued shares. Campion has been Nike’s COO since April 1, 2020. In this role, he led the company during a key period of digital transformation and global technological growth.Campion joined Nike in 2007 and was Chief Financial Officer and Executive Vice President from 2015 to 2020.
Top-3 Institutional Shareholders
Institutional investors own the majority of Nike shares representing about 64. 5% of the total shares outstanding.
Swoosh, LLC owns 257 million shares of Nike, or 16.5% of the company’s outstanding shares, according to its 13D filing dated June 30, 2016. Swoosh is a limited liability company formed by Phil Knight to own the majority of Knight’s shares.Nike stock. In 2016, after retiring as chairman of Nike, Knight transferred his votes to the Swoosh to a trust owned by his son Travis Knight, who is also a co-director of Nike.
Vanguard Group, Inc.
Vanguard Group owns 109.2 million shares of Nike, representing 7.0% of the total outstanding shares, according to 13F’s report for the period ending March 31, 2020. The company is primarily a mutual fund and ETF management company with a capital of approximately US $ 6.2 trillion.global assets under management (AUM). The Vanguard Dividend Appreciation ETF (VIG) tracks an index of US companies with steadily rising dividends for 10 consecutive years or more and has $ 43.0 billion in equity. Nike shares represent about 1.6% of the fund’s assets.
BlackRock owns 91.0 million Nike shares, representing 5.9% of the total outstanding shares, according to 13F’s filing as of March 31, 2020.The company is primarily a mutual fund and ETF management company with approximately $ 6.5 trillion in equity. The iShares Core S&P 500 ETF (IVV) is one of the largest ETFs in BlackRock with total revenue of approximately $ 197.7 billion. Nike is a 0.5% stake in IVV.
Diversity and Inclusion Nike
As part of our efforts at Nike, its data on the composition of its board of directors, senior management, general management and employees in general in various markets.
90,000 Nike’s revenue nearly doubles since last year
The momentum of a global company is driven by digital advantage and close connection with customers, according to management
Nike, Inc group of companies published a report for the fourth quarter of fiscal year 2021 – the company closed the year with an increase in key indicators.
Reported revenue for the fourth quarter of 2021 was $ 12.3 billion, up 96% from the previous year and 21% higher than the revenue of the profitable 2019. Gross profit for the fourth quarter increased 850 basis points to 45.8%, reflecting the favorable profitability of the business. At the same time, the level of annual revenue increased by 19%, amounting to $ 44.5 billion. The positive dynamics of the direct sales channel NIKE Direct, together with the growth of income from the wholesale line, offset the continuing negative trend of closing physical retail due to COVID-19.
Revenue growth in the fourth quarter was driven by record sales in the North American region, where revenue rose 141%. EMEA (Europe, including Russia, the Middle East and Africa) became the next sales market in terms of cash flows with revenue growth of 124%. The minimum growth for the closing months of the financial year was demonstrated in China, which, however, did not prevent the Chinese region from catching up with the leaders in annual growth rates. The Group’s brand Converse also contributed 95% to its revenue in the fourth quarter.
“NIKE’s strong performance this quarter and for the full fiscal year demonstrates our unique competitive advantage and strong connection with consumers around the world,” said John Donahue, President and CEO of NIKE. “We continue to invest in innovation and digital leadership to lay the foundation for NIKE’s long-term growth.”
According to reports, spending on creating demand for the brand was $ 997 million in the fourth quarter alone, up 21% from the previous quarter.The costs are driven by returns from sports and other events, as well as cash injections into digital marketing. Operating costs rose 16% to $ 2.7 billion on higher payroll and strategic technology investments.
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90,000 Nike released a report for the second fiscal quarter 2021
The results of the report for the second quarter of the fiscal year ended November 30, surpassed the already optimistic expectations of analysts.
Revenue of the company in the second quarter was $ 11.2 billion, up 9% year-on-year and 7% excluding exchange rates. The growth was driven by strong performance in all regions, led by China, where revenues increased by 24%.
Direct sales of amounted to $ 4.3 billion, which is 32% higher than the reporting basis and 30% excluding exchange rates. All regions showed double-digit growth.
Nike brand digital sales increased 84% or 80% excluding currency, with triple-digit growth in North America and double-digit growth in Europe, the Middle East, Africa, Asia, Latin America.
Diluted earnings per share for the second quarter were $ 0.78, up 11% over the prior period.
Inventories of are down 2% from the previous year and are back to healthy levels globally.
“Nike’s strong performance in a dynamic environment demonstrates that we can continue to conquer the market. Through compelling product innovation and global brand development, we continue to strengthen our leadership.Our strategy is working and we are happy with what lies ahead. ”
John Donahue, President and CEO, Nike
Second quarter revenue was impacted by strong digital growth for the Nike brand of 84%, offsetting lower revenues from wholesales and Nike stores. During the quarter, there were temporary store closures in regions affected by an increase in the number of Covid-19 cases, however, today more than 90% of the company’s own stores are open, some of them operate on a reduced schedule.
There is still a year-on-year decline in physical retail traffic in North America, Europe, the Middle East, Africa, Asia, Latin America due to exposure to Covid-19 and security measures, partially offset by higher conversion rates.
“With stable inventories across all regions, our return to growth is a testament to our digital strength as well as disciplined market and financial management. We are looking to the future, we are committed to moving even faster in line with our strategic vision of Consumer Direct Acceleration, sustainable long-term growth and profitability. ”
Matt Friend, Nike Chief Financial Officer
Nike continues to successfully invest in driving growth and continually increasing shareholder returns, including increasing dividend payments for 19 consecutive years. In the second quarter, the company paid out $ 385 million to shareholders, which is 12% more than last year.
The full report can be found here.
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90,000 Nike plans to reduce time to market for products to 10 days
Nike CEO Mark Parker and other senior executives at the company convinced shareholders that the new strategy would help Nike overcome the decline in sales.
One of the key aspects of Nike’s new strategy is to move production closer to North America, the company’s largest market. Nike currently manufactures most of its products in Asia, but the company has actively begun to relocate production to Latin America, where it is introducing modern automation technologies to reduce personnel costs and speed up production.
Nike’s COO Eric Sprunk spoke about the early results of a two-year partnership with manufacturing company Flex.Nike recently teamed up with Flex to launch a new shoe factory in Latin America that will ship 3 million pairs of sneakers to the US next year, and Nike and Flex plan to produce tens of millions of pairs in the region by 2023.
More than 1/4 of this volume will be the models produced taking into account the demand according to the accelerated model. Previously, the standard production cycle before the product was released to the market took 6 months, the direct path from production to the counter took 60 days, and now Nike intends to reduce this period to 10 days or less.
Tens of millions of pairs is a fairly small volume on a Nike scale, with plans to sell 1.3 billion pairs of shoes next year.
Similarly, Adidas is moving production closer to the consumer: in order to flexibly respond to changes in consumer demand in Europe, the company has launched a plant in Germany, in the American market – in Atlanta.
Analysts are wondering how the strategy of sea carriers, which is based on the maximum increase in the capacity of ships, correlates with the new trends that are being introduced by cargo owners.
Adidas and Nike intend to cut time-to-market by 6x by moving production closer to consumer markets. This will mean a reduction in the average travel distance of one container. And the shorter the distance, the less the savings from using large container ships.
However, in a recent study, McKinsey noted that shorter routes will serve 50,000 TEU container ships.
Andy Lane, a partner at analytical agency CTI Consultancy, disagreed with this prediction in his review for The Loadstar. According to his estimates, a ship with a capacity of 50 thousand TEU should carry an average of about 130 thousand containers in one round trip. Considering the capacity of today’s most advanced terminals, such a volume would mean that the vessel would spend at least 21 days at the berth, that is, three weeks per voyage. Moreover, on intercontinental routes, the flight lasts 4 weeks. But for regional routes no more than 2 weeks in length, the ratio becomes unprofitable.
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CEOs of Nike and SAP became speakers of the CEO RUSSIA club evening. Title. Moscow business portal
On September 17, at the Villa Kadashi boutique hotel, the CEO RUSSIA Trade and Industrial Association held a private club evening with the participation of CEOs of the world’s leading corporations: “ JUMP INTO THE FUTURE ”.
The event brought together heads of leading companies, businessmen, journalists, business owners – members of the RUSSIA CEO Trade and Industry Association and the RU TALKS business club.
Simon Vine, an investor, Member of the Management Board and Co-Head of CIB in Alfa-Bank until 2019, spoke to the guests in the teleconference mode from New York.
Presentation by Simon Vine –
“FOW – Future of Work: Seeking Answers and New Opportunities” covered the following topics:
Presentations were made by:
“JUMP INTO THE FUTURE”,
Andrey Krishnev shared his successful experience in overcoming the coronavirus pandemic and plans for the development of the company, as well as promised in the near future a “flying board” from the famous movie “Back to the Future”, sneakers like in the film are already there and their price is about $ 50,000.
During the speech of the CEO of NIKE, a lively discussion took place among the participants of the event.
Alexey Arkhipov became the moderator of the business event – founder of CEO RUSSIA, top manager of corporations: Norilsk Nickel , Rusal , Group En + , Uralchem , in the recent past – Chairman of the Board of Directors of the state corporation: Federal Logistics Center OJSC “, Laureate of the award:” Person of the Year 2019 “.
In his opening remarks, Alexey Arkhipov announced a partnership agreement between the CEO RUSSIA Trade and Industrial Association and Franco-Russian Chamber of Commerce ( CCI France Russsie ), and noted: “Consolidation of joint efforts of trade and industrial associations will allow more effectively to develop economic ties between Russia and France , as well as with other countries with which France maintains relations. ”
Maria Kokhno – “Golden Violin of Russia” performed during the welcome buffet
Members of CEO RUSSIA and RU TALKS are owners and CEOs of companies.
At the beginning of the event, new members of CEO RUSSIA and RU TALKS were solemnly presented with club cards and valuable gifts.
The partners of the event were:
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* The format of the event provides for the number of participants no more than 30 people – which allows all guests and members of the club to communicate with each other and find mutual business interests: discuss projects, transactions, career opportunities.
The main event CEO RUSSIA will be the annual national award CEO RUSSIA AWARDS 2020 , which will be awarded in various nominations to effective Russian managers.
Participation in the competition for the CEO RUSSIA AWARDS award will allow senior executives to receive great benefits in the form of increasing person and brand awareness, as well as improving the company’s image. In addition, the nominees – members of the CEO RUSSIA community establish useful business contacts and are part of the community of successful entrepreneurs and like-minded people.
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