Sportswear giant Nike has announced that it will stop dealing with Israeli retailers from May 31, 2022
The pull-out might have a significant impact on the economic operations of hundreds of Israeli sports retailers, according to reports.
Nike wrote to proprietors, saying: “Following a comprehensive review performed by the company and considering the changing marketplace, it has been decided that the continuation of the business relationship between you and the company does no longer match the company’s policy and goals.”
The decision is in line with the organization’s global goal of working with fewer stores.
It seeks to instead have consumers buy directly via Nike’s online and digital shops.
This, according to the company, will boost sales and streamline the process for its high-end items.
Nike stopped a sales arrangement it had with retail giant Amazon two years ago.
Although costs would rise, Israeli retailers may begin importing Nike products from sources other than the firm.
Many sellers have suggested Nike’s decision will make it harder for them to be commercially successful.
