A Nike/Amazon deal has been confirmed according to reports from CNN Money. The CEO of Nike, Mark Parker, says it’s in its early stages right now.
The partnership is that Nike will have their own shop on the site and they will be able to “elevate the way the brand is oresented” by having more power on how is product is marketed on Amazon. For now, the shop will have limited products.
Nike’s partnership with Amazon is part of an effort to revamp its sales tactics as brick-and-mortar retail continues to suffer. The partnership could mean bad news for sporting good retail stores, such as Dick’s Sporting Goods (DKS) and Hibbett Sports (HIBB). The Goldman report predicted that a deal could “offset” market share gains those companies expected to see after Sports Authority went out of business last year.