Nike expands India running push with market-specific shoe launch

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Nike expands India running push

Highlights

Nike will launch the Vegam Run shoe in India on Flipkart for 3,795 rupees ($40) starting November 1, targeting local growth.
Nike's China sales, comprising 15% of annual revenue, have declined for nine consecutive quarters amid rising competition from local and international brands.
Nike shares have fallen over 40% year-to-date as overall revenue projections drop, despite six straight quarters of double-digit growth in its global running business.

India product rollout and expansion plan

As reported by Reuters, the new shoe, called Vegam Run, follows Nike's announcement earlier this month that it plans to open a new campus in India, where it is trying to build a stronger presence during a running boom.

The shoe is scheduled to launch on Flipkart on November 1 at a price of 3,795 rupees, or about $40. Nike said it developed the product in about five months, underscoring a faster, locally focused approach to design in a market the company sees as a fresh avenue for growth.

Chief Executive Elliott Hill is betting on a revamped product pipeline to help revive the sportswear group. Analysts say that effort is likely to depend heavily on locally led designs in key markets, making India an important test case for the company's broader strategy.

China weakness sharpens need for new growth engines

Nike is stepping up its India push as its business in China, historically a major profit driver, continues to weaken. Sales in China, which account for about 15% of Nike's annual revenue, have fallen for nine straight quarters as international competitors and domestic sportswear brands gain ground.

The pressure has weighed on investor sentiment, with Nike shares down more than 40% so far this year. Even so, the company's global running business remains a stronger area, posting double-digit growth for six consecutive quarters.

Hill told analysts earlier this month that Nike's performance business is still not large enough to offset pressure in Nike sportswear, the Jordan brand and Greater China. That warning came after the company projected a sharper-than-expected drop in full-year revenue.

In our earlier article on India’s alternative accommodation market, we noted that rising tourism demand is straining the supply of traditional hotel rooms and accelerating the shift toward homestays, villas and holiday homes. The piece highlighted rapid growth projections through FY29, expanding digital listings, and search data suggesting strong, increasingly price-sensitive travel demand—signals of a broader consumption upswing in India.

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