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Nike to hike prices as it faces tariffs uncertainty Nike to raise prices as firms face tariffs uncertainty
(about 3 hours later)
Nike says it will raise the prices of some products from 1 June, with the increases hitting everything from shoes to clothing. Nike is set to raise prices on some trainers and clothing from 1 June, weeks after rival Adidas warned it would have to hike the cost of products due to US tariffs.
The sportswear giant says it is making the changes as part of "seasonal planning" and did not mention US President Donald Trump's tariffs policies that have upended global trade. The BBC understands Nike's decision was taken due to a number of internal and external factors and the sportswear giant said it regularly made "price adjustments".
The firm also says its will sell products directly to Amazon in the US for the first time since 2019. While it did not name US tariffs explicitly as a reason for the increase, almost all of Nike's goods are made in Asia - a region targeted by President Donald Trump's tariffs.
Last month, rival firm Adidas warned that levies imposed by Trump will lead to higher prices in the US for popular trainers including the Gazelle and Samba. The US has paused higher so-called "reciprocal" tariffs until July, but a "base" levy of 10% remains in place against a long list of countries.
From next Sunday, most Nike shoes that cost more than $100 (£74.50) will see prices rise by as much as $10. Tariffs are almost always paid by the company that is importing the goods into a country rather than the business which makes the product.
While importers can decide to absorb the extra tax, they may also choose to pass it on to the consumer.
From Sunday, 1 June, most Nike shoes that cost more than $100 (£74.50) will see prices rise by as much as $10.
Prices of clothing and equipment will also be raised by between $2 to $10.Prices of clothing and equipment will also be raised by between $2 to $10.
The popular Air Force 1 trainers as well as shoes that cost less than $100 will be exempted from the price hikes. Children's products and Jordan branded apparel and accessories will also be excluded. The BBC has contacted Nike to check if the increases will be applied to just the US or internationally.
Nike's move was driven by a range of internal and external factors, the BBC understands. Nike's popular Air Force 1 trainers, as well as shoes that cost less than $100, will be exempted from the price hikes. Children's products and Jordan branded apparel and accessories will also be excluded.
"We regularly evaluate our business and make pricing adjustments as part of our seasonal planning," a spokesperson said. Last month, Adidas said that levies imposed by Trump would lead to higher prices in the US for popular trainers including the Gazelle and Samba.
Companies around the world are contending with the uncertainty of the Trump administration's trade policies.
A slew of steep so-called "reciprocal tariffs" which were announced on 2 April were put on hold as countries from around the world negotiate with the White House. The 90-day pause is due to expire in early July.
On Wednesday, UK sportswear retailer JD Sports said higher prices in its key US market due to tariffs could hit customer demand.On Wednesday, UK sportswear retailer JD Sports said higher prices in its key US market due to tariffs could hit customer demand.
Almost all Nike trainers are made in Asia – a region targeted by Trump's tariffs salvo against foreign countries he accuses of "ripping off" Americans. Companies around the world are contending with the uncertainty of the Trump administration's trade policies.
Goods from Vietnam, Indonesia and China faced some of the heaviest US import taxes - between 32% to 54%. A slew of steep "reciprocal" tariffs, which were announced on 2 April, were put on hold as countries from around the world negotiate with the White House.
On Thursday, Nike also said it will once again sell its products directly Amazon in the US. Goods from Vietnam, Indonesia, Thailand and China - countries that make shoes for US companies - are set to face some of the heaviest US import taxes of between 32% to 54%.
It had previously listed its goods on the platform, but stopped six years ago to focus on its official website and physical stores. The 90-day pause is due to expire in early July, but the base 10% tariff remains in place.
Nike relies heavily on the US for sales. The the world's biggest economy accounts for almost everything it sells in its largest market of North America. Commenting on the price rises, Nike said: "We regularly evaluate our business and make pricing adjustments as part of our seasonal planning."
However, a slump in sales has curbed the company's ability to command full price for its products. The company also said it would sell products directly to Amazon in the US for the first time since 2019.
Nike had previously listed its goods on the platform, but stopped six years ago to focus on its official website and physical stores.