Nike Confirms: Out Of Elite Swimwear Business


My report last night about Nikeexiting the championship swim business came without the company's public confirmation. A few minutes ago, company spokesman Dean Stoyer confirmed the news in a statement:

"Nike has made a strategic decision as part of the company's long-term growth plan to focus efforts against its successful swimwear business at retail. We will continue to supply coaches and collegiate institutions under Nike sponsorship with competitive Nike swimsuits, including Nike Swift Swim that won a combined 15 Olympic medals and set 15 world records since its debut in 2003, but we will not invest in next-generation swim innovation which is not in line with our stated category growth strategy."

Questions? Comments?