LIVESTRONG and NIKE, Inc. announced a new strategy for Nike's LIVESTRONG product collection that will increase the partnership's innovative efforts to raise awareness for the cancer fight globally and expand sales internationally.
The new strategy includes consistent financial contributions from Nike to LIVESTRONG, including international expansion for the collection, starting in July 2010. It also features a guaranteed annual payment and the potential for additional funding as sales from the collection grow.
This is a change from the current variable amount US-only funding strategy where 100% of the profits go to LIVESTRONG.
“We're excited to embark on this new phase for LIVESTRONG and Nike,” said Doug Ulman, president and CEO of the Lance Armstrong Foundation (LAF). “Lance's return to cycling drew the eyes of the world to the fight against cancer and Nike's support is allowing us to spread the message of hope and perseverance to new markets all over the globe. We hoped LIVESTRONG gear could be available everywhere and approached our long-term partner Nike to lead that charge by growing its collection internationally. This new strategy for LIVESTRONG is aimed at creating future growth opportunities that can expand its reach and encourage people around the world to join us in the fight against cancer.”
“Nike has helped raise more than $80 million for LIVESTRONG in the fight against cancer and today's announcement opens an exciting new chapter in our partnership,” said Scott MacEachern, GM of Nike's LIVESTRONG Collection. “Having the ability to grow the collection internationally, reach more people and ensure more consistent contribution to LIVESTRONG's efforts is an honor we take very seriously. We look forward to helping take this fight to even greater levels in the years to come.”
Nike, a long-time supporter of Lance Armstrong and the cancer cause, created the iconic yellow LIVESTRONG wristband in 2004 and has been instrumental in making cancer awareness a global phenomenon, with more than 70 million bands distributed to date. Nike went on to create the LIVESTRONG collection of running and training apparel, footwear and accessories in 2008, enabling people to show their support and wear sports products that help others live strong.
The Nike LIVESTRONG collection invites consumers to show their support for LIVESTRONG and the 28 million people in the world living with cancer by wearing yellow.
