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 President Donald Trump’s tariffs disrupt global supply chains and impact retailers’ profits.
The company, which sources a significant portion of its footwear from China and Vietnam, will increase prices on apparel and equipment for adults between US$2 and US$10, while footwear priced between US$100 and US$150 will see a US$5 hike, CNBC reported.
Nike will also return to selling products on Amazon for the first time in six years, The Information reported, as the footwear maker works to regain market share from newer and trendier competitors, amid a turnaround under CEO Elliott Hill.
Nike and Amazon did not immediately respond to Reuters requests for comment.
Shoes costing more than US$150 will see their prices increased by US$10, while products costing less than US$100 will not experience any price hikes. Nike’s Air Force 1 shoes, which cost US$155, are exempt from the increase, CNBC reported, citing a person familiar with the matter.
With the critical back-to-school shopping season fast approaching, the company will maintain current prices for children’s products, the report added.
Nike’s products on Amazon are currently sold by independent merchants, and the footwear maker stopped selling on Amazon after two years on the platform in 2019, as it shifted focus to sales on its own websites and in stores.
Amazon notified some of those merchants that it will ban them from selling certain Nike products beginning July 19 because it was working with Nike directly, The Information reported, citing a message sent to merchants by the company.
German sportswear brand Puma also said earlier this month it had reduced shipments from China to the US and might increase prices in the country due to tariffs. REUTERS
