Nike targets growth in China 06/05/2010 |
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Nike chief executive Mark Parker has revealed the sportswear giant will pursue acquisitions and partnerships in developing markets such as China.
Bloomberg reports that the company is aiming to increase revenues by 41 per cent by 2015, helped by store openings and the expansion of existing product lines.
“Nike has unlimited opportunities and limited resources,” Parker said at a meeting with analysts and investors in New York. “Our job is to be surgical and aggressive with these resources.”
Annual revenue will grow to $27bn in 2015 from $19.2bn in the financial year to the end of May 2009, according to Parker.
In China, central and eastern Europe and emerging markets, sales will grow in the low double-digits on a percentage basis, or as much as $3.5bn by 2015, chief financial officer Donald Blair added.
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