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.
He made the comment during a call with Wall Street analysts.
Donahoe made the comments during a discussion on Nike’s fourth-quarter earnings.
The company’s revenue in China rose to more than $1.9bn, but missed Wall Street expectations of $2.2bn.
“We’ve always taken a long-term view. We’ve been in China for over 40 years,” he said.
“Phil [Knight] invested significant time and energy in China in the early days and today we’re the largest sport brand there,” he said in reference to Nike‘s co-founder and former chief executive who first saw the potential for growth in the country.
THEY SANG A DIFFERENT TUNE IN MARCH
Donahoe’s comment comes after Nike released a statement in March claiming it is “concerned about reports of forced labor in, and connected to, the Xinjiang Uyghur Autonomous Region (XUAR).”
While the company also claimed it does not directly source its product material from forced labor, critics argue the country’s supply chains are interwoven. There are thought to be more than 1 million Uyghur Muslims held in Xinjiang — which delivers 80 percent of Chinese cotton.
No word on what the company, in general, thinks about Donohue’s latest statement.
Donahue’s a CCP whore. He’s a big Kaepernick supporter as well. If the country turned communist tomorrow, would he be pleased?
.@Nike to the CCP:
— Ted Cruz (@tedcruz) June 25, 2021