Nike to invest $1.3 million in footwear production - footwearbiz: Lead

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Nike to invest $1.3 million in footwear production

17/11/2010
Nike has announced plans to invest $1.3 million in its plant at Misiones in Argentina. In advance of the announcement global product marketing vice president Erik Sprunk travelled to Buenos Aires to hold a meeting with industry minister Debora Giorgi.

The improvements to be made at Misiones are expected to facilitate the company to employ 300 more employees and create a team of 1,000 workers. The company is currently considering its plans for fresh investments.

Argentina has emerged as the most significant sports market for the company in the world. Footwear production in the country has almost doubled in the country between 2003 and 2009. In 2010, it is expected to surpass the target of 100 million pairs. This is likely to place Argentina among the top 10 shoe manufacturing nations of the world.


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