Nike Frees Are Ready For You
NIKE President Richard K
NIKE President Richard K. Donahue said, "Securing the distribution rights in Mexico further strengthens NIKE's dominant position in the international market. Combined with Canada, which we have owned since 1984, this acquisition gives us direct and full control of the NIKE brand on the entire continent."
Kevin R. Brown, formerly director of Licensing for Latin America, who will assume the role of general manager of NIKE's Mexican operations added, "The economic progress being achieved in Mexico and the Mexican people's love of sports provides NIKE with exciting opportunities for growth in the years ahead. This agreement will ensure the NIKE brand is managed in accordance with our goal of developing a consistent global brand image."
Among numerous violations of its own civil court procedures, Spanish courts judging the issue have: issued an injunction barring Nike from selling or marketing apparel, without first giving Nike's representatives the opportunity to be heard on the issue, in violation of Spain's own civil procedures.
refused to recognize Nike's absolute right under Spanish procedural law to post a bond, which would have protected Nike from permanent harm should the court ultimately rule in Nike's favor;refused on appeal to overturn the obviously flawed lower court ruling, citing lack of evidence that Nike is engaged in "commercial activity," ignoring the existence of a Nike marketing, sales and distribution operation in Spain for each of the previous 12 years.While the Spanish court's injunction against Nike selling and marketing apparel stands -- pending a hearing on the merits of the matter -- Nike continues to lose opportunities in Spain to grow its business in parallel with the rest of Western Europe. Demand for Nike footwear, apparel and accessories in the third quarter of fiscal year 1992 alone grew 59 percent in Germany, 38 percent in Italy and 30 percent in France.Nike Inc., the world's largest sports and fitness company, is headquartered in Beaverton.
Falcone, a certified public accountant, has been employed by NIKE since August 1990 as the director of Acquisitions. He also served briefly as interim director of Human Resources. Prior to joining NIKE, he had been a partner at the international accounting firm of Price Waterhouse since 1981, serving in several locations including New York, Memphis, Tenn., Philadelphia and, most recently, Portland, Ore., where he was the partner in charge of the NIKE account from 1983 through 1990.BEAVERTON, Ore., March 27 /PRNewswire/ -- NIKE Inc. (NYSE: NKE; PSE), the world's leading sports and fitness company, announced today that it had completed negotiations to acquire distribution rights to the NIKE brand in Mexico. Since 1984, NIKE products have been sold by Grupo Atenas, a licensee, based in Mexico City. The new agreement becomes effective April 15. NIKE will operate under the name NIKE de Mexico, S.A. de C.V. with administrative headquarters in Guadalajara.
Over the past ten years, NIKE has gradually acquired control of distribution in the primary international markets. In Europe, where the company generates revenues of over $800 million annually, 95 percent is produced by NIKE-owned operations. In the Asia Pacific region, the company owns the distribution rights in Taiwan, Korea, New Zealand, Malaysia and Singapore and will add Australia and Hong Kong by June. Mexico becomes NIKE's only wholly owned operation in the Latin America region.
by: Janessa Chin
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