Nike reduces number of stores in India

Nike has cut the number of stores in India to around 150. The world’s largest sportswear maker has all but withdrawn from most of its franchise agreements in India, and has decided to go along with only one strategic partner, which will operate its offline stores. Nike will directly focus on online sales in India.

The move is a part of global restructuring process where the company is focusing on 12 key global cities including New York, Shanghai, London, Tokyo, Paris and Mexico City to achieve 80 per cent of its projected growth by 2020. No Indian city features on that list.

Nike started consolidating its business in India in 2016 when it shuttered 35 per cent of its stores. During its peak, the owner of the iconic Swoosh logo operated around 350 stores across the country. Subsequently, the company downsized its workforce in India, asking many to join its operations in southeast Asia. Before Nike officially forayed into India with its subsidiary around 15 years ago, SSIPL (formerly known as Moja Shoes), brought Nike products into the domestic market.