As the retail industry braces for incoming tariffs, Nike will be raising prices on footwear, apparel and equipment as soon as this week.
Nike apparel and equipment prices will increase by around US$2 to $10, a person familiar with the matter told CNBC. Footwear between $100 and $150 will have a price hike of $5 and any priced above $150 will see a hike of $10.
Most of the increases will be in effect from 1 June, but some could be seen on shelves as soon as this week.
A person close to the matter told CNBC that children’s products will not be impacted by the price hike, nor will items under $100, in recognition of the financial challenges families face.
Jordan brand apparel and accessories won’t be impacted but Jordan sneakers will.
This comes as the footwear industry is being hit hard by U.S. President Donald Trump’s tariffs. Currently, around 90% of Nike’s footwear is manufactured in China and Vietnam, two countries that have been hit hard by tariffs.
As it stands, Chinese goods face a 30% tariff, and imports from Vietnam face a 10% duty.
As Nike increases prices, the company has also said they will resume selling directly on Amazon in the U.S. for the first time since 2019.
“This includes expanding to new digital accounts, including Amazon in the U.S., new physical partners like Printemps, elevating retail experiences across the marketplace, and launching Nike’s AI-powered conversational search to improve our online services,” a Nike spokesperson said.
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