Nike chief executive has defended the company’s business there in the wake of a boycott of Nike sportswear in China.
Asked about market competition with major Chinese companies, Nike CEO John Donahore said: “Nike is a Chinese brand. It is a brand company for the Chinese people.
He made the remarks in a telephone interview with the Wall Street Journal about Nike’s latest earnings report.
The announcement comes after the Nike sportswear company recently faced repercussions over criticism of Xinjiang.
In an interview with Nike for the last three months, Mr. Donahore said: In the three months to the end of March, the company’s revenue more than doubled to $ 12.3 billion.
Last year, when it was hit hard by the epidemic, it raised $ 790 million, but now its revenue has risen by $ 1 billion.
In China, the company’s revenue rose more than $ 1.9 billion. However, it did not meet the Wall Street market estimate of $ 2.2 billion.
Mr. Donahore said he was confident China would continue to be a fast-growing market for Nike, having invested in China for many years.
“Our company is always looking for the long term. We have been investing in China for over 40 years.”
Nike has not yet responded to further questions from the BBC.
Nike shares rose more than 14 percent during the New York close.
Why boycott Nike in China?
Many Western brands, including US-based Nike and Swedish company H&M, have expressed concern over reports of forced Uighur Muslims in China’s textile industry.
In March, a Western group imposed sanctions on Chinese government officials for human rights abuses against the Uighur Muslim minority.
The European Union (EU) the UK was co-sponsored by the United States and Canada.
