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

Tajik textile-apparel exports rise 30% in Jan-Aug 2018

Textiles | On 16th Oct 2018

Tajik textile-apparel exports rise 30% in Jan-Aug 2018

Tajikistan’s production of textile and apparel rose by 30 per cent in ...

Courtesy: Good On You

Apparel/Garments | On 16th Oct 2018

Good On You aims to give consumers access to brand info

Australia based Good On You, an app that provides ratings of over...

Courtesy: Rieter

Textiles | On 16th Oct 2018

Rieter launches new ring and compact spinning machines

Rieter has launched G 37 and G 38, the new ring spinning machines,...

Interviews View All

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Ghanshyam Ghoghari, Kimora Fashion

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Nishank Patel, Shri Dinesh Mills Limited

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Sandip Bhojani, Manthan Patel,

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Manuele Baggini,

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

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

Leave your Comments


October 2018

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

news category


Related Categories:

Advanced Search