JD Sports customers to get ‘unprecedented access’ to Nike footwear and apparel under new partnership
- The American multinational Nike is famous for its Air Jordan sneakers and its tick-shaped logo
- Customers of both companies will be able to link their member accounts
- Nike started the partnership deal last year with Dick’s Sporting Goods
JD Sports customers will benefit from greater access to Nike products after the two sportswear retailers announced a new merger.
Customers of both companies will be able to link their member accounts with each other and enjoy certain benefits under Nike’s “Connected Partnership” loyalty program.
These perks include an instant reward bonus, curated collections and “unprecedented access to select Nike members-only footwear and apparel,” Bury-based JD said.
Coaches Reconciliation: JD Sports has launched a new partnership with sportswear company Nike
The FTSE 100 group is the first European company to become a business partner of the American multinational, famous for its Air Jordan sneakers and its tick logo, which has an estimated market capitalization of $150 billion.
Nike began the partnership agreement in October last year with Dick’s Sporting Goods, one of the largest sports equipment retailers in the United States.
Another partnership with German e-commerce company Zalando, which has nearly 50 million customers in 25 markets, is set to begin next month in Austria before being expanded to other territories.
Carl Grebert, Nike’s vice president for EMEA, said the agreements “will bring the best Nike products and experiences to customers of two of Europe’s largest and fastest-growing retailers, with greater speed, convenience and connection to our brand and our sport than ever before.
The announcement comes a day after Nike released first-quarter results which showed its revenue rose 10% year-on-year to $12.9 billion for the three months ending August.
Trade was boosted by strong demand for shoes and sales growth in North America outpaced a decline in Greater China, where tight lockdown restrictions have hit the retail sector hard.
Unfortunately, net income fell 22% to $1.5 billion due to higher transportation costs, lower margins in the Nike Direct business and unfavorable currency movements due to a stronger dollar. strong.
The previous week, JD Sports released its half-year results which attributed lower profits in part to rising logistics costs at its North American operations.
The company also struggled against impressive comparisons from the previous year, when the US government provided direct payments of $1,400 to its citizens and more generous unemployment benefits as part of a major stimulus package.
The trade update sent shares of JD Sports Fashion falling more than any other blue-chip London company on Thursday last week.
Following the announcement of the Nike merger this morning, they fell 1.6% to 98.3p by late afternoon, meaning their value has more than halved in the past 12 months .
Commenting on the partnership with Nike, JD Managing Director Regis Schultz said the two companies “have a long and successful history of working together as strategic partners to provide customers with an exceptional product offering and a seamless omnichannel experience.” .
He added: “This partnership – the first to launch in Europe – amplifies the combined strength of the Nike and JD brands with our shared consumers by building on their behavior and journeys and creating new, richer and more engaging experiences. .”