Nike's valuation slashed by $17B due to coronavirus

MANILA, Philippines — Athletic wear giant Nike is feeling the effects of the coronavirus on its sales, Forbes reported.

Nike's valuation was slashed by $17 billion after temporarily closing approximately half of its company-owned stores in Greater China.

Additionally, there is also reportedly a significant drop in retail store traffic in the country because of the outbreak.

China, which currently has around 35,000 active cases of coronoavirus in the country, is one of the most important geographic regions for Nike.

According to Forbes, China makes more than 15% of Nike's total revenues and nearly 40% of the company's profits in the last fiscal year.


In addition, the Asian powerhouse has also been the company's fastest-growing region — accounting for more than one-third of the company's growth over the last three years.

With the coronavirus outbreak still in full swing, it is likely that Nike will continue to feel its effects.

source: philstar.com

5 things to know about the LeBron XVII

MANILA, Philippines — As LeBron James gears up for his 17th season in the NBA, Nike is outfitting him with the latest innovation in his newest signature sneaker: the LeBron XVII.

Set to launch in the Philippines starting October 10, the latest LeBron kicks will set you back Php 9,895 a pair.

So what's new about the King's latest kicks? Here are five things you need to know about the LeBron XVII.


1. It has the highest-volume Heel Max Air unit in a LeBron shoe

It's the most Max Air that LeBron's worn in a shoe, set beneath the heel to provide shock absorption for his explosive play.

A soft foam pod directly under the Max Air units add cushioning.

2. The shoe has two independent Air Zoom pods under the forefoot

Combined with Max Air, the Air Zoom provides the ultimate hybrid cushioning.

The Air Zoom units in the forefoot respond to LeBron's downhill speed from point to point.

3. The shoe introduces 'Knitposite'

Evolved from the upper construction from Battleknit 2.0 on the LeBron XVI, the LeBron XVII combines lightweight Flyknit construction with heat-molded yarns that add structure and color.

The result is durable, supportive and resists stretching.

4. Signature LeBron details have shifted to the tongue

In the LeBron XVI, the Lion crest was on the heel of the shoe while the silhouette of LeBron dunking could be found on the outsole.

For the LeBron XVII, the details shift into the tongue, combining phrases and symbols like "I'm King", "LJ" and "23".

"LeBron wanted a more overt tongue for the shoe, which opens up the opportunity for storytelling," LeBron XVII designer Jason Petrie said.

5. The LeBron XVII releases on September 27

The LeBron XVII will be available in three colorways, Purple and Gold, In The Arena and Air Innovation.

They're set to drop on October 10, 20 and 29, respectively.

Will you be copping a pair of the King's newest signature shoe?

source: philstar.com

LeBron James says in Kaepernick reference: I stand with Nike

NEW YORK — Clutching his young daughter in his arms, LeBron James said he stands with Nike, a clear reference to the company’s Colin Kaepernick ad campaign.

The basketball superstar — and new Los Angeles Laker — made the remarks as he received an award Tuesday for both his style and his philanthropy from Harlem’s Fashion Row. The fashion collective partnered with Nike for the New York event, both a fashion show and an awards ceremony that focused on diversity in the fashion world. The evening culminated in the reveal of the latest LeBron James Nike basketball shoe: a women’s sneaker designed by three female African-American designers and inspired by strong African-American women.

In emotional remarks, James paid tribute to the three women in his life — his mother, wife and 3-year-old daughter, Zhuri.

He noted how his mother had raised him alone, and given him “a sense of pride, a sense of strength, a sense of no worry.”

“Because of you, Gloria James, I’m able to be in a position today where I can give back and showcase why I believe African-American women are the most powerful women in the world.”

The NBA star, who was wearing one of his favored shrunken-fit shorts suits by designer Thom Browne, called his daughter “my rock.”


“People always told me if you ever have a girl, she’ll change you,” said James, who also has two sons. “I was like, nobody’s changing me, I’m a man.” But she did, he said.

“Not only did she change me, she’s made me a better person,” James said. “A more dedicated person, a stronger person, I guess a more sensitive person.”

Closing his remarks, he said he stood “for anybody who believes in change.” He added: “I stand with Nike, all day, every day.”

Kaepernick, the former San Francisco 49ers quarterback, unveiled his first ad of the new campaign Monday. “Believe in something, even if it means sacrificing everything,” it said.

The new endorsement deal has sparked vigorous debate, with some fans expressing displeasure over the apparel giant’s support of a player known for starting a wave of protests among NFL players against police brutality, racial inequality and other social issues.

Some angry fans were even burning and cutting out the signature swoosh logos on their gear — and posting the results on social media.

But Kaepernick and his Nike campaign, which marks the 30th anniversary of Nike’s “Just Do It,” received plenty of support from the fashion world in attendance Tuesday.

Bethann Hardison, an activist for diversity in fashion and a former supermodel who was also honored by Harlem’s Row, said she was happy with Nike’s move. “It’s such a divided situation in our world right now,” she said of the negative reaction by some fans. “But I’m such a huge, huge, wholehearted supporter of Colin that I’m very proud that someone understands what he’s done and (is giving) him some kudos.”

Prominent African-American designer Tracy Reese said she loved the new Nike campaign.

“It was tastefully done,” she said. “And really, this is the time to stand up for what you believe in. Colin Kaepernick has done that and I think that we need to follow his example and really go where the heart leads, instead of where everybody expects you to go.”

Also honored at the ceremony were Harlem streetwear designer Dapper Dan and stylist Jason Rembert. A fashion show highlighted the work of designers Kimberly Goldson, Undra Duncan and Fe Noel, who together helped create the new shoe.

source: philstar.com

After Wakanda-inspired outfit, Serena Williams launches fashion collection

NEW YORK (AP) — Serena Williams has launched a fashion collection soon after participating in her first major tennis tournament in 16 months, dressed in a black "warrior princess" catsuit, no less.

But don't look for her French Open outfit among the athleisure, office and evening clothes on her new namesake website, the only place her duds are available.

Following collaborations with HSN and Nike, Williams' "Serena" line includes an "S'' motif and comfortable price points.

The letter adorns bralettes and high briefs, along with a T-shirt with the name of her childhood home, Compton.


She says she hopes to inspire women to own their own "s'' words, like strong, sexy, sophisticated, sassy, smart, silly and spontaneous.

Prices range from $40 for the logo T-shirt to $215 for a gold and black anorak jacket.

Williams considers the black bodysuit she wore at the French Open much more than a fashion statement.

There's a practical reason for the full-length legs on the skintight outfit: The aim is to protect her because of past bouts with blood clots.

There also is a message she wanted to send about self-worth and feeling powerful as she returned to Grand Slam action with a first-round victory at Roland Garros on Tuesday, about nine months after giving birth to a daughter.

"It feels like this suit represents all the women that have been through a lot mentally, physically, with their body to come back and have confidence and to believe in themselves," Williams said after beating Kristyna Pliskova 7-6 (4), 6-4 at Court Philippe Chatrier. "I definitely feel like it is an opportunity for me to inspire a whole different group of amazing women and kids."

The outfit called to mind Williams' black "catsuit" that she wore at the 2002 U.S. Open. It also was reminiscent of the white bodysuit that American player Anne White wore at Wimbledon in 1985.
Williams referred to what she wore Tuesday as the "catsuit — the new version, 2.0."

"I call it, like, my Wakanda-inspired catsuit," referring to the fictional nation in the film "Black Panther."

"We designed it way before the movie," she said, "but still, it kind of reminds me of that."

Williams said she feels "like a warrior princess, kind of," when she wears the outfit.

"I'm always living in a fantasy world," she added. "I always wanted to be a superhero, and it's kind of my way of being a superhero."

Tuesday's match was the first at a major tournament for the 23-time Grand Slam champion in 16 months.

She gave birth on Sept. 1, then dealt with complications related to a pulmonary embolism.

"I had a lot of problems with my blood clots, and, God, I don't know how many I have had in the past 12 months. So it is definitely a little functionality to it," Williams said. "I have been wearing pants in general a lot when I play, so I can keep the blood circulation going. It's a fun suit, but it's also functional, so I can be able to play without any problems." — Reports from Howard Fendrich, AP

source: philstar.com

Nike reacts, and how

I am a sneaker head — I wear sneakers 98 percent of the time, no matter the occasion.

Next to living with my pets, driving cars, my next best thing to do is try out the latest sneakers on the market.

Last Sunday it was off to a fun run at UP Diliman for the launch of a second release of Nike Epic React Flyknit.

Following its Feb. 22 debut, the new Nike Epic React Flyknit colorways, including Pink Matcha, an off-white Alloy (for women) and Horizon (glowing red for women and a dark gray for men), were made available in select Nike stores.

If there is one virtue I truly love about Nike and its sneakers it is that it constantly asks runners (for the Flyknit series) what they look for in a running shoe.

Here’s what the Nike runners asked for: better cushioning, better energy return, lightweight technology and durability.

Time for the test

As I took my first few strides with the Nike Epic React Flyknit I did notice how light and bouncy the sneakers were. A clear sign for me that these shoes were made for running.

I am not a hard-core marathon runner. I am what I like to call a fitness runner — this means I include a five-kilometer outdoor run in my workout schedule at least once a week. On other days, I use the treadmill at the gym for a 20- to 30-minute interval training run-walk-run.

But, today was for a three-kilometer fun run — so I was sure I would get a good feel of just how well my knees would be protected with the Nike Epic React Flyknit.

I mention knees, because when you reach your 50s the knees are the first to buckle if the shoes are not the best for running.
Well, the React’s dynamic is quite straightforward. For starters there is the design, (looks are almost everything when it comes to good kicks, nowadays) so the one-piece Nike Flyknit bootie seems to be precision-engineered for support, flexibility and breathability in the spots where runners need it the most. With all the running technology it is equipped with plus its cool design, the shoe hugs the foot and gives it good support just where it is needed.

More running time

I also love that the Nike React Flyknit, like all Nike sports shoes today, are gender-specific. So, the Nike Epic React Flyknit Women’s Running Shoe allowed me a good run, with no tightness or pinching on my foot — and all these as I hit my stride with the shoe.

I guess this can be attributed to the Nike React foam cushioning, which is responsive, lightweight, durable and soft. 

The Nike Epic React foam is the real deal and made for folks who love to pound the pavement — real runners.

As I joined the warm- up before the run, I noticed how the Flyknit upper fit my foot just right. And, as I did a few foot stretches, my knees and ankles liked that the Flyknit bent the way I wanted it to — not too soft and pliable even when I did a few pivots with my ankles.

My verdict

The Nike Epic React is a lightweight all-around daily training shoe that can take on every workout you can throw at it: from long runs to speed work on the track and treadmill.

With the Nike React Flyknit, Nike has raised the bar by creating a running shoe that feels different, and better.

From an aesthetic standpoint, this shoe is artful, and I think that it will stand as a classic in both design and aesthetic.

But, since I am a fitness junkie, I value functionality, comfort, and durability — even over looks.

source: philstar.com

New uniforms do away with home and away designations

Nike has unveiled new NBA uniforms for the 2017-2018 season that dispense with traditional ‘home’ and ‘away’ team designations.

The home team will instead pick from four primary uniforms to be worn at all home games and visiting teams will choose a contrasting uniform within their own assortment.

White ‘Association’ uniforms will replace the typical home jersey, while the ‘Icon’ version uses the team’s primary color and replaces the road uniforms.

Nike, which has replaced Adidas as the NBA’s uniform supplier, will reveal the two remaining uniforms in the coming months.

The world’s No. 1 footwear maker said on Tuesday that it employed 3D-body maps of players, including heat and sweat maps, to design cooler, lighter uniforms for players to wear during the NBA’s grueling 82-game season.

NBA players tested early versions of the uniforms and provided feedback that prompted Nike to evolve the designs in ways that included moving the armhole, neck and side seams to eliminate distractions for athletes, the company said.

“The mental advantage of a quality uniform is priceless,” Cavaliers guard Kyrie Irving said in a press release.

“The fact that Nike listened to all of our feedback while developing the new NBA uniforms speaks volumes. I’m excited for the new fit and feel,” he said.

The most significant change comes to the back shoulder of the uniform where Nike designers altered the construction for an improved fit, the company said.

The uniform is comprised of a combination of Alpha Yarns and recycled polyester, with each athlete uniform representing approximately 20 recycled PET (polyethylene terephthalate) bottles.

“Not only does this yarn blend match Nike’s broad commitment to sustainability, it also removes moisture more quickly than previous NBA uniforms, wicking sweat 30-percent faster than current NBA uniforms,” Nike said in a release.

Nike will also unveil new tights and socks to complement the uniforms and provide a seamless look for the athletes, it said.

source: interaksyon.com

Openly gay athlete Jason Collins calls Manny Pacquiao a ‘bigot’: ‘You should never hold public office’

US sports equipment giant Nike on Wednesday axed Manny Pacquiao after he described gay couples as “worse than animals”, slamming the Filipino boxer’s remarks as “abhorrent.”

A Nike statement said the company had severed its ties with Pacquiao, who triggered a firestorm of controversy with his comments to a Filipino broadcaster earlier this week. 

“We find Manny Pacquiao’s comments abhorrent,” a Nike statement said.

“Nike strongly opposes discrimination of any kind and has a long history of supporting and standing up for the rights of the LGBT community… we no longer have a relationship with Manny Pacquiao.”

Devout Christian Pacquiao, 37, had issued an apology soon after the controversy erupted.

“I’m sorry for comparing homosexuals to animals. Please forgive me for those I’ve hurt,” Pacquiao said in a video post on Instagram, his arms crossed.

Pacquiao, who is running for a seat in his country’s Senate, said he was not condemning homosexuals but was standing by his conservative Christian faith.

“I love you all with the love of the Lord. I am praying for you.”

Pacquiao told television station TV5 earlier this week: “It’s common sense. Do you see animals mating with the same sex? Animals are better because they can distinguish male from female.”

“If men mate with men and women mate with women, they are worse than animals.”

Pacquiao’s comments were greeted with revulsion in the United States, where same-sex marriage is enshrined in law following a historic Supreme Court ruling.

Jason Collins, the first openly gay athlete in the NBA, dismissed Pacquiao as “bigoted.”

“I lost all respect for you,” Collins wrote on Twitter. “Bigoted people like you (yes you are one) should never hold an office in politics.”

Pacquiao’s long-time rival Floyd Mayweather — who outclassed the Filipino in their money-spinning mega-fight last year — also took aim at the remarks.

“We should let people live their lives the way they want to live their lives. To each his own,” Mayweather was quoted by TMZ Sports as saying.

Gay marriage is outlawed in the Philippines due to strong opposition from the Catholic Church and 80 percent of the country’s 100 million people subscribe to the faith.

Gay marriages are officiated at small churches but are not recognized by the mainstream church or the state.

Pacquiao’s remarks angered some of his compatriots, with the country’s most popular gay comedian, Vice Ganda, urging his 6.7 million Twitter followers to “#PrayForMannyPacquiao”.

“Some people think they can judge people, like God, just because they’ve attended a prayer meeting and read the Bible,” he said.

Singer Aiza Seguerra, who recently married her actress-girlfriend, called on Filipino voters to boycott Pacquiao, who is also preparing for his last boxing fight in April, calling him an “ignorant, bigoted hypocrite”.

“You might have done our country proud but with your statement, you just showed the whole country why we shouldn’t vote for you,” Seguerra said in a post on Instagram.

source: interaksyon.com

Nike stands by Lance Armstrong

NEW YORK – US sporting goods giant Nike was one of several sponsors sticking by Lance Armstrong on Friday after the US Anti-Doping Agency stripped the cycling legend of his record seven Tour de France titles.

Armstrong, a cancer survivor revered by millions for his efforts in raising cancer awareness and supporting those stricken by the disease, has steadfastly denied doping accusations but said Thursday night that he would not pursue an arbitration process.

“We are saddened that Lance Armstrong may no longer be able to participate in certain competitions and his titles appear to be impacted,” Nike said in a statement.

“Lance has stated his innocence and has been unwavering on this position. Nike plans to continue to support Lance and the Lance Armstrong Foundation, a foundation that Lance created to serve cancer survivors.”

The company declined to comment on the terms of its deal with Armstrong, who has been a Nike-sponsored athlete since 1996.

Armstrong was also banned from cycling for life by the US anti-doping agency, which said his decision not to pursue arbitration in an effort to clear himself of doping charges leveled in June triggered the action.

AdAge reported that brewer Anheuser-Busch and sunglasses manufacturer Oakley were also sticking with Armstrong.

Johnson Health Tech, a Wisconsin-based company that makes exercise equipment, was among the firms citing Armstrong’s cancer awareness work as a reason to continue supporting him.

JHT issued a statement “reaffirming” its support of Armstrong and his charitable foundation.

“JHT fully supports the great work they do helping families throughout the world overcome cancer’s financial, practical and emotional challenges,” the company said in a statement.

source: interaksyon.com