World Nike boss says firm is 'of China and for China'
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The boss of Nike has made a robust defence of the firm's business in China after facing a consumer boycott there.
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.
Mr Donahoe was speaking during a call with Wall Street analysts about Nike's latest earnings report.
The comments come after the sportswear giant was recently hit by a backlash over statements about Xinjiang.
Mr Donahoe made the comments during, which showed revenues had doubled to a better-than-expected $12.3bn (£8.8bn) for the three months to the end of March.
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That helped it bounce back to a $1.5bn profit, from a $790m loss during the depths of the pandemic a year earlier.
The figures also showed that revenue in China rose to more than $1.9bn, but missed Wall Street expectations of $2.2bn.
Mr Donahoe said he remained confident that China would continue to be a fast-growing market for the company due to its many years of investment there.
"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.
Nike did not immediately respond to a BBC request for further comment.
Feds Seek ‘Very Substantial’ Prison Term for Disgraced Lawyer Michael Avenatti
Scoffing at the one-time celebrity lawyer's claim that his "epic fall and public shaming" should be taken into account at sentencing, federal prosecutors urged a judge to deal Michael Avenatti a "very substantial" prison sentence for attempting to extort Nike out of millions of dollars by threatening to expose their corruption scandal. The post Feds Seek ‘Very Substantial’ Prison Term for Disgraced Lawyer Michael Avenatti first appeared on Law &Quoting the probation office, prosecutors noted that Avenatti “often put himself forth as a champion for the Davids of the world, facing off with those Goliaths who would bully the small, the weak, the victimized.
The company's shares rose by more than 14% during after-hours trade in New York.
Why was Nike boycotted in China?
Several Western brands, including Nike and Swedish fashion retailer H&M,after the firms expressed concerns about the alleged use of Uyghur forced labour in cotton production.
In March, a group of Western countries imposed sanctions on officials in China over rights abuses against the mostly Muslim Uyghur minority group.
The sanctions were introduced as a coordinated effort by the European Union, UK, US and Canada.
In December, the BBC published an investigation based on new research showing.
What is Xinjiang and who are the Uyghurs?
- Xinjiang, China's biggest region, produces about a fifth of the world's cotton. An autonomous region in theory, in reality it faces restrictions which have only increased in recent years
- Millions of China's Uyghurs, a Muslim minority that sees itself as culturally and ethnically close to Central Asian nations, live in Xinjiang
- In recent decades, mass migration of Han Chinese (China's ethnic majority) to Xinjiang has fuelled tensions with Uyghurs which has at points flared into deadly violence
- This has resulted in a massive security crackdown and an extensive state surveillance programme, which critics say violate Uyghur human rights. China says such measures are necessary to combat separatism and terrorism
- Uyghurs have been detained at camps where China has denied these claims saying the camps are "re-education" facilities aimed at lifting Uyghurs out of poverty
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