Nike to raise prices on some products, including shoes, starting this week
Nike is set to increase prices on select shoes, clothing, and equipment this week, as part of a seasonal adjustment. The price hikes will specifically target certain products, with Nike footwear priced between $100 and $150 seeing increases of up to $5, while items priced at $150 or higher will see hikes of up to $10. Additionally, apparel and equipment prices will be raised by $2 to $10.
Among the most popular items impacted by the price changes will be Air Jordan-brand shoes, which range from $100 to $275 a pair for adult styles. However, Nike Air Force 1s, the company’s best-selling shoe priced at $115, will remain unaffected by the price adjustments. Children’s footwear, products under $100, and Jordan apparel and accessories will also be exempt from the price hikes.
Nike has informed wholesalers about the upcoming price changes, with major retail chains like Dick’s Sporting Goods, DSW, Footlocker, and Kohl’s carrying Nike items in their stores. The athletic apparel company’s share prices were up 1.9% in early morning trading following the announcement of the price adjustments.
In addition to the price increases, Nike will also be expanding its direct sales on Amazon for the first time since 2019. This move will require smaller sellers on the platform to cease sales of Nike products by July 19, as Nike begins selling a wider range of products directly on Amazon.
It’s worth noting that Nike makes nearly half of its products in Vietnam and China, according to information on the company’s website. While German-based company Adidas has hinted at potential price increases in the U.S. market due to tariffs, Nike has not cited tariffs as a reason for its price adjustments.
As Nike prepares to release its fourth quarter earnings on June 26, the company’s decision to raise prices reflects its ongoing evaluation of business strategies and seasonal planning. This move comes as Nike continues to navigate the challenges and opportunities in the ever-evolving athletic apparel market.
