Nike is set to raise prices on some trainers and clothing from 1 June, weeks after rival Adidas warned it would have to hike the cost of products due to US tariffs.
The sportswear giant did not name US tariffs explicitly as a reason for the increase, saying it regularly made “price adjustments”.
Almost all of Nike’s goods are made in Asia a region targeted by President Donald Trump’s tariffs.
The US has paused higher so-called “reciprocal” tariffs until July, but a “base” levy of 10% remains in place against a long list of countries.
Tariffs are almost always paid by the company that is importing the goods into a country rather than the business which makes the product.
While importers can decide to absorb the extra tax, they may also choose to pass it on to the consumer.
From Sunday, 1 June, most Nike shoes that cost more than $100 (£74.50) will see prices rise by as much as $10.
Prices of clothing and equipment will also be raised by between $2 to $10.
Commenting on the price rises, Nike said: “We regularly evaluate our business and make pricing adjustments as part of our seasonal planning.”
In a call with investors in March, Nike’s finance chief Matt Friend said that the company was “navigating through several external factors that create uncertainty in the current operating environment” including tariffs.
He also said Nike was monitoring “the impact of this uncertainty and other macro factors on consumer confidence”.
The BBC has contacted Nike to check if the latest price increases will be applied to just the US or internationally.
Nike’s popular Air Force 1 trainers, as well as shoes that cost less than $100, will be exempted from the price hikes. Children’s products and Jordan branded apparel and accessories will also be excluded.
Credit: DAILYNEWS