Nike opens 100% of stores in Greater China and South Korea

15 May 2020 (Last Updated May 15th, 2020 14:32)

Sports apparel brand Nike has opened 100% of NIKE-owned stores in Greater China and South Korea.

Nike opens 100% of stores in Greater China and South Korea
Nike re-opens 100% of stores in Greater China and South Korea. Credit: Banalities.

Sports apparel brand Nike has opened 100% of NIKE-owned stores in Greater China and South Korea.

The retailer also opened more than 95% of partner stores in the same region while some stores are still operating with reduced hours.

Nike has completely shut the majority of NIKE-owned and wholesale partner stores outside Greater China and South Korea since mid-March to protect the health and safety of its employees, as well as restrict the spread of the coronavirus.

Nike president and CEO John Donahoe said: “We are encouraged by the recovery we are seeing in Greater China and South Korea as we continue to deepen our connection to consumers.

“Even more so, consumers around the world are recognising the need for an active and healthy lifestyle and sport is now more meaningful than ever. With our strong digital foundation, brand momentum and financial position, we believe this will be a catalysing moment that strengthens Nike’s long-term future.”

Additionally, the retailer has gradually reopened a small number of Nike-owned stores across North America, EMEA and APLA as states and countries where the quarantine has eased and the marketplace began recovering.

Reopenings have taken place in more than 15 countries, including Germany, France, the Netherlands, Brazil and the US. The retailer’s wholesale partners in these countries have also resumed business.

In China, Nike began temporarily closure of approximately half of its stores in early February.

The closure has slowed product shipments to wholesale customers, which reduce wholesale revenue and higher inventory.

The company also anticipates material impact on its NIKE Direct and wholesale operations in North America, EMEA and APLA in the fourth quarter.