WASHINGTON COUNTY (dpa-AFX) - Nike (NKE) is expanding its presence in India with plans for a new global campus in Bengaluru as the sportswear giant looks to revive growth under CEO Elliott Hill and tap into one of the world's fastest-growing consumer markets.
The campus, expected to open within the next few years, will house corporate roles spanning Nike, Jordan Brand and Converse. Hill described the project as a long-term investment, citing India's importance as both a growth market and manufacturing hub.
The expansion comes as Nike struggles in Greater China, where fiscal first-quarter revenue fell 26 percent. The company said China remains a long-term priority and stressed that its India investment is not intended to replace its focus on the market.
Nike is also restructuring operations under its Pace strategy, including workforce reductions and supply-chain changes, targeting about $2.5 billion in savings through fiscal 2031. India's growing consumer base and rising participation in sports offer Nike another avenue for long-term international growth.
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