Nike's Chief Executive has called his company a brand of China and for China.
As reported by the British Broadcaster, BBC, Nike CEO John Donahoe said last week during a call about fourth-quarter earnings told Wall Street Analysts, “Nike is a brand that is of China and for China.”
“We’ve always taken a long-term view. We’ve been in China for over 40 years,” Donahoe said, expressing his optimism that the brand will continue to grow quickly in the world’s most populous country.
Donahoe's response came after he was asked questions about the competition from the Chinese companies.
Donahoe also referred to the apparel brand’s co-founder and former CEO, Phil Knight.
“Phil invested significant time and energy in China in the early days, and today we’re the largest sports brand there,” he said.