Nike CEO Mark Parker told Reuters that he sees revenue growth in
China increasing at 50% per year and reaching $1 billion within a
year. China is currently at $600 million in annual sales, Nike's
fourth largest market.
At $1 billion it would be second only to Nike's U.S. business.
Nike also views India and Russia as potential $1 billion
markets. The report also stated that the budget for Nike's 2008 Beijing
Olympics strategy has not yet been planned, but said that commitment to
the event would be “major.”
