Nike has been looking for a partner for two years to leave its South American brand business in its hands. photo by Reuters
The second was the fascination with Nike. The American sportswear company, which He has been trying to get rid of his operation for two years finally in Argentina found buyerafter a sales deal went bust in 2020.
The Panamanian Regency Groupwhich distributes the brand in Central America, will manage it in the country and also in Uruguaywhere it is already present with the distribution of Zara, Desigual and Guess.
“As with Nike’s other distribution partnerships in Latin America and around the world, these new partners are committed to serving local consumers and we believe will help guide growth sustainable in these countries, “explained the company in an official statement.
In ChileNike will follow the same path, albeit associated in that case to the MasPlay Groupowner of Equinox International, Nike’s distribution partner in Peru, Bolivia and Ecuador.
Nike had agreed in early 2020 that Mexican Grupo Axo it would take over its businesses in Argentina, Chile and Uruguay. But at the end of that year – and Covid through – both sides agreed to terminate the sales contract.
Nike’s exit plan from the region includes the transfer of the sale of its apparel, distribution and management by the distributor of both the physical sales channel and the online sales channels.
In Argentina, Nike has 600 direct employees and 12 own stores (including 10 outlets), which it will pass into the hands of the Regency Group. The chain also consists of 20 third-party stores. The stores channel between 15 and 20% of sales.
As for the production, Nike had already outsourced footwear production with DASS to Misiones; Derwill makes its stockings in Malvinas Argentinas and RA Intertrading takes care of clothing.
NEITHER
Source: Clarin
