Amazon Will Begin Selling Nike Sneakers
If Amazon wasn't already having a big week with the purchase of Whole Foods for $13.7 billion USD in cash, reports have surfaced that the online retailer could be close to selling Nike shoes.
The news comes courtesy of global investment firm Goldman Sachs. By releasing a "client-note statement" detailing the plans, the investment firm made Nike stocks jump 2 percent. Nike is poised to earn between $300 and $500 million dollars from the partnership.
"Taking this step would give Nike direct economic exposure to a large and fast growing distribution channel, while improving the brand presentation and expanding access to millennial shoppers," Goldman Sachs analyst Lindsay Drucker Mann said.
This partnership could lead to further turmoil for other sports retailers such as Dick Sporting Goods. Recently, Sports Authority filed for bankruptcy.