We’ve seen industries and business across economies and countries collapsing and shutting or getting adversely affected in the past few months owing to the global pandemic of COVID-19.
The world’s largest sportswear brand Nike is no exception; it is now forced to further consolidate its operations in India.
As per sources, the company has not only laid off a number of its employees in the country, but has also asked several others to join its operations in South East Asia.
Nike has also dropped its plans to open a huge back office in Bengaluru.
It must be highlighted here that the US-headquartered company first closed about 35 per cent of its outlets in India in 2016, followed by further cutting down the number to almost 150 or even lower last year.
All the aforementioned facts pull our attention towards one thing quite clearly – India’s diminishing importance as a growth market in its global scheme of affairs.
“We’ve had a few people leave last week as part of the continuation of the global Consumer Direct Acceleration work we announced earlier this summer,” a Nike representative told TOI in e-mail.
“Nike remains in India. Beyond that we don’t have further information to share,” the representative further added.
