Nike CEO Mark Parker told Reuters that he sees revenue growth in China increasing at 50% per year and sales reaching $1 billion within a year. The report stated that Nike occupies “the leading spot in the mainland market for athletic footwear and apparel.” 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, and that Parker said that commitment would be “major.”
