Nike CEO: "Nike Is A Company Of China And For China"
The CEO of Nike said his company is "of China and for China" during a Thursday earnings call, according to a transcript published by Nasdaq. John Donahoe defended the company's business in China despite the nation's record of human rights abuses against its Uyghur population. In March, Nike faced backlash on Chinese social media after a statement from the company circulated stating that it was "concerned" about reports of forced labor in Xinjiang. "We're confident about what we're seeing in China as we drive long-term growth, and we have a long-term view about China," Donahoe said. "We've always taken a long-term view. We've been in China for over 40 years, still invested significant time and energy in China in the early days, and today, we're the largest sport brand there, and we're a brand of China and for China."
"Nike is committed to ethical and responsible manufacturing, and we uphold international labor standards," the company said in a statement that received attention in March. "We are concerned about reports of forced labor in, and connected to, the Xinjiang Uyghur Autonomous Region (XUAR). Nike does not source products from the XUAR, and we have confirmed with our contract suppliers that they are not using textiles or spun yarn from the region."Our latest stories...