They are in it for the money

Nike sets 44 billion euro revenue target by 2020.

They are in it for the money
Photo: All Over Press

Nike is the sports industry giant of the world. And as all the other leading brands in the business Nike is outsourcing their production to local employers in various Asian countries which are often characterized low wages, poor working conditions and regularly unenforced labour laws. These are the characteristics of production in Cambodia and countries such as China, Indonesia, Pakistan, India, Bangladesh, the Philippines and Vietnam in which the big sports giants make billion and billion of dollars. The workers in for example Cambodia – however – make the minimum wage, 128 US dollars a month in 2015. And the salary comes after 60 hours work a week.
In the year ended 31 May 2015 Nike’s revenue was 28,661 million euro. But that is not enough: Nike has now set an annual revenue target of 44,000 million euro by the end of 2020.

READ MORE: WE ARE HERE FOR THE PROFIT

“Fifty billion dollars (44 billion euro, ed.) – that’s an ambitious goal. We know that. We make it our daily ambition to achieve ambitious goals. We’re showing how Nike is built for growth – now and for the years to come,” Mark Parker, chief executive at Nike, says.
In the meantime the garment workers in Cambodia got a raise of the monthly wage to 140 US dollars by 1 January 2016…

SPORTS INDUSTRY

SPORTS INDUSTRY

Profit before tax and turnover 2014:

Nike: 3,066 – 28,661

Adidas: 835 – 14,534

Puma: 122 – 1,385

Million euro.

Nike’s account is for the year ended 31 May 2015. Adidas and Puma for 2014.

Source: Nike, Adidas and Puma.