Business & FinanceTop StoryTop StoryLatest News
Nike deepens India push with new running shoe, Vegam Run, at ₹3,795
Sentiment: NeutralHigh Priority
What Happened?
Nike has introduced its first running shoe specifically designed for India, named Vegam Run, priced at ₹3,795. This launch comes as the company aims to expand its presence in the Indian market amid declining sales in China.
Key points
- Vegam Run is priced at ₹3,795 (approximately $40).
- The shoe will be available on Flipkart starting November 1.
- Nike's CEO Elliott Hill emphasizes local designs for market success.
- Sales in China have declined for nine consecutive quarters.
- Nike's global running business has seen double-digit growth for six quarters.
Key insights
- Nike's focus on local designs may attract more Indian consumers.
- The success of Vegam Run could influence future product strategies in India.
- Nike's performance in India may help offset losses from declining sales in China.
Why it matters
This launch could enhance Nike's market share in India as it seeks to recover from losses in other regions.
Tags
Entities
Nike· CompanyVegam Run· ProductIndia· CountryFlipkart· CompanyElliott Hill· PersonChina· Country
Source
Business Standard
