(Reuters) -Nike is set to raise prices on several of its products starting next week and will also return to selling its products at online retail giant Amazon, according to media reports, as
Nike to Increase Prices and Rejoin Amazon Marketplace Next Week
(Reuters) -Nike is planning to raise prices of some products from next week and will sell items on Amazon after six years, the company said on Wednesday.
The footwear retailer will increase prices on apparel and equipment for adults between $2 and $10, while those priced between $100 and $150 will see a $5 hike, it said.
The company sources a significant portion of its footwear from China and Vietnam. With the critical back-to-school shopping season approaching, Nike will not raise prices for children's products.
"We regularly evaluate our business and make pricing adjustments as part of our seasonal planning," Nike said.
Prices for shoes costing more than $150 will increase by up to $10, while products costing less than $100 will not see any hike. Nike's Air Force 1 shoes, which cost $155, are exempt from the increase.
CNBC first reported on the price increases.
German sportswear brand Puma said earlier this month it had reduced shipments from China to the U.S. and might increase prices in the country due to tariffs.
BACK AT AMAZON
Nike will be back on Amazon as the footwear maker works to regain market share from newer and trendier competitors amid a turnaround push under CEO Elliott Hill.
Nike's products on Amazon are currently sold by independent merchants, and the company stopped selling on the e-commerce platform in 2019 as it shifted focus to sales on its own websites and in stores.
Its return to Amazon in the U.S. was part of its investments in its marketplace to reach more consumers, which also included expanding to new physical retailers such as department store chain Printemps.
North America was Nike's biggest market by total revenue, as of 2024.
Amazon notified some of those merchants that it will ban them from selling certain Nike products from July 19 as it was working with Nike directly, the Information reported, citing a message sent to merchants by the company.
"We're providing an extended period of time for the small number of sellers affected to sell through their inventory of overlapping items," an Amazon spokesperson said.
(Reporting by Juveria Tabassum in Bengaluru; Editing by Mohammed Safi Shamsi and Arun Koyyur)
