Nike is ‘a brand of China and for China,’ CEO says during earnings call
Nike CEO John Donahoe called the sportswear apparel giant a “brand of China” this week, following a fiasco it was involved in earlier this year over concerns about human rights abuses committed by the communist government.
During an earnings call this week, Donahoe explained that Nike had a long-term view of its operations in China, where it had been operating for about four decades.
“We are the largest sport brand there, and we are a brand of China and for China,” Donahoe said. “And the biggest asset we have in China is the consumer equity. Consumers feel a strong, deep connection to the NIKE, Jordan and Converse brands in China. And it’s real.”
Donahoe went on to say that the company intended to keep investing in its China operations as it reported better than expected revenues in its fiscal fourth quarter. Its sales in China missed Wall Street expectations.