Louis Vuiting, the luxury goods group which owns the brands Louis Vuittons and Nike shoes, have issued a joint statement in which they say the two companies “are committed to creating a stronger global brand”.
While Nike is still one of the largest shoe brands in the world, it’s no longer the only one that’s struggling with the popularity of high-fashion brands like Adidas and Reebok.”
We know that our customers and employees value these qualities and we are constantly working to make sure that they are as happy with our products as we are.”
While Nike is still one of the largest shoe brands in the world, it’s no longer the only one that’s struggling with the popularity of high-fashion brands like Adidas and Reebok.
In recent months, Adidas has struggled to get any traction with younger consumers, with sales plummeting by 22 per cent in the second quarter of this year compared to the previous quarter.
Nike, meanwhile, has struggled with a slump in popularity among young women in the US, with some analysts predicting the brand could drop to a fifth place on the list of the most popular fashion brands by 2019.
Nerf sneaker and apparel maker Nike has been hit hard by the high cost of its high-end sneakers, which can be priced at over $1,000.
“Nike’s new sneaker range will be an opportunity to expand and innovate,” said Adidas chief executive Ahmed Benali.
“The range of premium sneakers is a reflection of the Nike brand and our commitment to providing quality products to our consumers.”
The range will include high-performance sneakers for women that are affordable, stylish and stylish at the same time.
“We have been working closely with Nike and other high-profile brands to create a range that will provide high quality, affordable footwear for all genders and will continue to grow the brand.”
But while the new range will offer women a new choice, Adidas still faces stiff competition from the likes of Nike, Reeboks and others, including Nike’s own Originals line of shoes.
“If you look at the overall global sales of Nike products, the majority of them have gone up in recent years, and we’re seeing that trend continuing,” Adidas’ Benali said.
“In our view, the market is going to be much more competitive than it has ever been, and Nike will have to continue to compete to attract new customers.”
So if we can deliver better quality products, I believe that will be good for the brand and good for us.
“Read more: Adidas is launching new shoes to fight for market share in 2019The new Nike range will launch in Australia in October.