Phil Knight Says That Nike Is Worried About Competition From Under Armour and adidas

 

We all know that Nike dominates U.S. and global sales. Want some proof? Well how about selling $8.4 million worth of merchandise last quarter alone?

But just because they’re the best at what they do doesn’t mean that they’re not aware of their competition. In a recent interview with USA Today, Nike co-founder Phil Knight acknowledged that Nike does indeed worry about its competitors.

“The industry has changed enormously,” Knight said. “I’ll just say it’s grown and the companies that are in the industry are in more different areas than ever before. So Under Armour is a very serious competitor, but Adidas is the next biggest and they’ve got a lot of money to spend and they have a lot of capability. We worry about them all. And it isn’t just shoes. In golf, we compete against Titleist. In women’s athletic gear, we compete against Lululemon, so we worry about them all.”

I think this is a sign of respect by Knight and Nike to acknowledge the strides that brands like Under Armour and adidas have been making lately.

What do you think? Does Nike have anything to worry about?

via: USA Today

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