It’s been six years since Nike (NKE) products have been available for purchase on Amazon (AMZN), but the storied sneaker brand is making a comeback with the world’s largest online retailer, according to The Wall Street Journal.
“Nike is investing in our marketplace to ensure we’re offering the right products, best services, and tailored experiences to consumers wherever and however they choose to shop,” the company said in a statement.
Nike will also be bumping up prices on products, anywhere between $2 and $5 per item, as it expands its digital offerings.
Meanwhile, a spokesperson for Amazon said the move will expand its selection for U.S. consumers beyond Nike inventory offered by independent sellers in the last several years.
“We value independent sellers, and we’re providing an extended period of time for the small number of sellers affected to sell through their inventory of overlapping items,” a spokesperson for the company said.
The moves come amid changes at the top for Nike.
Elliott Hill, Nike’s new CEO, has spent most of his career at the company. He left Nike in 2020 to take an advisory job at a bank but was lured back and offered the top spot late last year.
Hill acknowledged the company’s struggles and how he planned to turn things around in an interview on Nike’s blog upon his arrival. He highlighted the need to get back to basics.
“We will do what we’ve done before to win: Get back to a sharp focus on the consumer. Understand the areas where we need to improve, put leaders and teams in place against those opportunities, and hold each other accountable for delivering. When we do those things, that’s when we ultimately get back to winning.
Nike stopped selling to Amazon directly in November 2019 to focus on its direct business, the company noted at the time. The Wall Street Journal reported that the brand’s corporate office had been frustrated by Amazon’s lack of success in rooting out counterfeit merchandise.
Investors seemed to take positive note of the changes in pre-market trading, sending shares up just over 1 percent.
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