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Preface "We have been in China for 40 years and it is still an important market with huge growth potential. Nike has very strong growth assets among Chinese consumers."
Nike continues to purchase from China.
Last Friday, under the instructions of Nike's Board of Directors, shareholders of this sportswear giant voted down a proposal, which aims to cease sourcing goods and raw materials from China because the proposal involved cotton cropping areas.
The proposal requires Nike to "suspend purchases of cotton and other raw materials from China until the cancellation or repeal of the U.S. business consultation." Which was made by 2 shareholders Domini Impact Investments in New York and Vancity Investment Management headquartered in Vancouver, Canada.
Not only as a major sourcing area, China is also a significant market for Nike. Before the reveal of the voting results, John Donahoe- CEO of Nike said in a Q&A session of the conference: "We have been in China for 40 years and it is still an important market with huge growth potential. Nike has very strong growth assets among Chinese consumers."
Nike's decision to keep buying from China does not come as a surprise.
In year 2022, Nike’s revenue in China is around $7.54 billion, which is 16% of its global revenue.
From 鞋界教授20220913
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