Home / Knowledge / News / Apparel/Garments / Nike to vacate elite swimwear space
Nike to vacate elite swimwear space
24
Sep '08
Nike the globally renowned sports company announced that it is vacating the space from the elite swim-wear market. This strategic decision has been taken as part of the company's long-term growth plan.

A company official commenting to a email request from fibre2fashion stated that “Nike has made a strategic decision as part of the company's long-term growth plan to focus efforts against its successful swim-wear business at the retail level.”

He added by saying that 'We will continue to supply coaches and collegiate institutions under Nike sponsorship with competitive Nike swimsuits including Nike Swift Swim that won a combined 15 Olympic medals and set 15 world records since its debut in 2003, but we will not invest in next-generation swim innovation which is not in line with our stated category growth strategy.”

A few years ago the company had announced that it would focus on six key categories as part of its strategy for growth and to reach US $23 billion by 2011. These categories are football, basketball, running, men's and women's training and sportswear.

Nike competes among others with the likes of Speedo which is the market leader and TYR for a slice of the performance swimwear market.

Must ReadView All

Textiles | On 26th Apr 2017

Kering's consolidated revenue growth rises 31.2% in Q1

The consolidated revenue growth for luxury group Kering for the first ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Textiles | On 26th Apr 2017

Gap, Athleta to increase use of sustainable fibres

Gap, one of the world's most iconic apparel and accessories brand and ...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search