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SBD/August 21, 2012/Marketing and Sponsorship
Nike This Fall Will Raise Shoe, Clothing Prices As Internal Costs Increase
Published August 21, 2012
NEW RULES: In a separate piece, Banjo reports Nike is “trying to scale back the way it releases its highly coveted new sneakers” after recent launches have caused “outbreaks of violence and unruliness outside stores.” Under new rules, sporting-goods stores such as Foot Locker or Dick's Sporting Goods “will have to open their doors at 8 a.m., forgoing the popular midnight releases that encouraged people to camp outside and stampede stores.” Nike in a company memo “told retailers it will no longer allow stores to presell or take reservations for new shoes.” Nike also is “banning store chains from displaying photos or other descriptions of new products ahead of their launch dates.” Banjo notes “violent crowds surrounding Nike's shoe launches date back decades, but analysts say social media has made the buildup to the events more intense” (WALL STREET JOURNAL, 8/21).