Friday 25 June 2021

Nike China Boycott

 
The boss of Nike has made a robust defence of the firm's business in China after facing a consumer boycott there. Chief executive John Donahoe said "Nike is a brand that is of China and for China" in response to a question about competition from Chinese brands. Mr Donahoe was speaking during a call with Wall Street analysts about Nike's latest earnings report. The comments come after the sportswear giant was recently hit by a backlash over statements about Xinjiang. Mr Donahoe said he remained confident that China would continue to be a fast-growing market for the company due to its many years of investment there.Several Western brands, including Nike and Swedish fashion retailer H&M, recently faced a backlash from Chinese shoppers after the firms expressed concerns about the alleged use of Uyghur forced labour in cotton production.