Nike Shifting to Distributor Partnerships in Brazil, Argentina, Chile, Uruguay
06 Fevereiro 2020 - 10:27AM
Dow Jones News
By Colin Kellaher
Nike Inc. (NKE) on Thursday said it will shift its Nike Brand
business in four South American countries to distributor
partnerships in a bid to create a more profitable,
capital-efficient business model.
The Beaverton, Ore., footwear giant said Grupo Axo, a
Mexico-based multi-brand retailer backed by private-equity firm
General Atlantic, will acquire its operations in Argentina, Chile
and Uruguay.
Brazilian sporting goods retailer Grupo SBF S.A. (CNTO3.BR) will
own substantially all of Nike's operations in Brazil.
Nike said it will classify the assets and liabilities of the
entities to be sold as "held for sale" on its balance sheet and
will post a one-time charge of about $425 million in its fiscal
third quarter related to foreign exchange.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 06, 2020 08:12 ET (13:12 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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