Nike To Build China HQ

Sportswear giant Nike Inc has announced plans to develop a headquarters in Shanghai, discount China.

The investment is a key part of Nike’s business growth strategy in the region.

Nike celebrated the landmark of 30 years of business in China in 2011, and, last June, accrued more than $2 billion in revenue for the first time in the area. In addition, in its second quarter FY12 earnings, Nike reported a 35% increase in its revenue in the region.

VP & GM of Nike’s Greater China geography Craig Cheek has stated, “This announcement is very exciting and a strategic investment in our continued growth in China.

“This new campus headquarters will allow us to elevate and expand on our facilities and capabilities while bringing all of our Shanghai based employees together from our portfolio of Nike Inc. brands into one central campus.”

The centralized campus will span nearly 600,000 square foot and will be located at Tishman Speyer’s newest development, The Springs in Shanghai’s Yangpu District.

Tishman Speyer co-CEOs Jerry Speyer and Rob Speyer expressed their delight at Nike’s committment.

“When we broke ground on The Springs in June, we were confident that world-class companies would recognize the value and importance of establishing a presence in Shanghai.

“The creation of the Nike Greater China Headquarters at The Springs underscores the strength of this market and importance of this development to the Shanghai business as well as residential communities. We’re thrilled that Nike, one of the world’s great global brands and companies, will be an anchor in this development and look forward to a long-term relationship”.

Nike expects to occupy the new space from the first quarter of 2014.