Collection to Expand Internationally to Help Increase Support for the Cancer Fight
Submitted by Nike Inc.
Today LIVESTRONG® and NIKE, Inc. (NYSE:NKE) 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 percent 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."
About the Nike LIVESTRONG Collection
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. The collection is currently available in the U.S. at select retailers and online at www.livestrong.org,www.store-laf.org and www.nike.com/livestrong.
At LIVESTRONG, we fight for the 28 million people around the world living with cancer today. There can be - and should be - life after cancer for more people. That's why we kick in at the moment of diagnosis, giving people the resources and support they need to fight cancer head-on. We find innovative ways to raise awareness, fund research and end the stigma about cancer that many survivors face. We connect people and communities to drive social change, and we call for state, national and world leaders to help fight this disease. Anyone anywhere can join our fight against cancer. Join us at www.LIVESTRONG.org.
About NIKE, Inc.
NIKE, Inc. based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly-owned Nike subsidiaries include Cole Haan, which designs, markets and distributes luxury shoes, handbags, accessories and coats; Converse Inc., which designs, markets and distributes athletic footwear, apparel and accessories; Hurley International LLC, which designs, markets and distributes action sports and youth lifestyle footwear, apparel and accessories; and Umbro Ltd., a leading United Kingdom-based global football (soccer) brand. For more information, visit www.nikebiz.com.
NIKE, Inc. based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly-owned NIKE subsidiaries include Converse Inc., which designs, markets and distributes athletic lifestyle footwear, apparel and accessories and Hurley International LLC, which designs, markets and distributes surf and youth lifestyle footwear, apparel and accessories. For more information, visit www.nikeinc.com.
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