Nike expects sales to increase by more than 50% in the next 5 years

Mark Parker, CEO of American Nike, said on the 6th that in the next five years, the company’s global sales are expected to increase by 53% to 23 billion US dollars.

According to Reuters, Parker and other company executives said at the investor meeting that Nike will provide customers with more personalized products. In the next three years, the company will open 100 new stores worldwide. The new store will focus on "quality customer experience" to enhance the company's brand image and provide a test area for new products, thereby distinguishing Nike from other competitors.

Analysts believe that Nike’s $23 billion sales target indicates that the company still has plenty of room for growth.

Nike expects that in the next five years, the proportion of its stores, counters, and online sales will account for 15% of the company's total sales from the current 12%.

Nike also said that the development of emerging markets will also drive the company's future sales growth. Nike expects China will eventually become the company's second largest market (the United States is its largest market), the company's potential sales in this market is expected to reach 1 billion US dollars.