Mollette: Nike, Too Big To Fail?    

We have watched corporations and famous Americans have ups and downs throughout the years.

We’ve all watched as Tiger Woods, Robert Kraft, and most recently, billionaire Jeffrey Epstein have had low moments.

Sadly we heard last weekend about coal billionaire Chris Cline’s tragic and fatal helicopter crash.

Time and again we learn none of us are too famous, too successful or too rich to encounter a human downward life turn and tragedy.

The Nike athletic shoe and apparel corporation is the world leader in athletic and apparel sales. They made about $34 billion in 2017. They have a global presence of athletic sales in over 160 countries. Their products are sold through 22,000 retail accounts worldwide. They are the largest supplier of athletic footwear in the world.  

Almost all of Nike shoes are made outside the US in Asia and Latin America. Nike does not make the shoes themselves but they contract production out to other companies. There are various reports about who Nike employs and how much their workers make. One report claims Nike has 100,000 people making their shoes in Indonesia and that these workers make about $3.50 per day or about $3,500 a year. Thus Nike is very profitable and has massive dollars for marketing.

 

 

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