Nike has revealed that its prices will rise in the U.S. and range between $2 and $10 beginning in June.
The sneaker company informed its retail partners of the new price hikes this week. Customers will see the price increase next month, and the company’s retail partners will see their wholesale price increase in July.
In a statement reported by Complex, Nike said, “We regularly evaluate our business and make pricing adjustments as part of our seasonal planning.” However, there will be some exclusions from the price hikes. All children’s footwear and apparel, Jordan apparel and accessories, and all footwear under $100 will not be affected. The Nike Air Force 1, which is currently priced at $115, will also not be affected.
These price increase comes as Nike gets ready for its new fiscal year. The current one closes out on May 31. The decision to introduce the price increase comes during Trump’s new tariffs, which were introduced in April. The tariffs increased by 46 percent in Vietnam, 32 percent in Indonesia, and 34 percent in China. Nike is known to have most of their footwear made in Vietnam, 27 percent is made in Indonesia, and 18 percent is made in China.
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