Sportswear giant Nike has penned a 20-year deal for a UK logistics campus and national supply chain hub in the East Midlands.
The centre, based at Magna Park, will span more than 1.3 million sq ft and feature warehousing, offices, sport and recreation facilities. It will also aim to achieve a BREEAM ‘Outstanding’ rating.
Nike has worked with global real estate logistics provider GLP on the deal, with Legal & General as a strategic partner on the project.
Bruce Topley, UK managing director at GLP, said: “We are delighted to be welcoming Nike to Magna Park Corby. This new site will help boost skills and generate high-quality jobs.
“The industry-leading, bespoke building will minimise carbon footprint and embed health and wellbeing.
“This investment is a great vote of confidence in the East Midlands and will help propel much-needed long-term growth across the region.”
An exclusive company profile in the recently published RetailX Global Fashion 2024 report looked at how Nike is well on its way to becoming a major force in global fashion ecommerce, buoyed by the continuing blurring of lines between fashionwear and sportswear.
The brand’s 2023 financial results paint a promising picture, with its moves suggesting a significant focus shift. Global revenue reached $51.3bn, while profits hit $22.3bn. Such growth demonstrates a loyal and growing customer base and a solid platform for ecommerce expansion into the global fashion market.
Nike boasts a rich heritage in athletic apparel and footwear. It has successfully translated this into a powerful fashion business, particularly with younger generations who value both performance and style. Limited-edition sneaker drops and collaborations with high fashion brands such as Off-White and Dior have further cemented its position in fashion.
To build on this, Nike is broadening its fashion offerings, with its online store now featuring a wider range of lifestyle apparel and accessories, catering to a more casual and trend-conscious audience. This includes collaborations with fashion designers and influencers, creating capsule collections that bridge the gap between sportswear and everyday wear.
Nike has also worked hard to shift its ecommerce platform towards increased personalisation. Features such as ‘Nike Fit’ leverage user data to recommend size and fit for footwear and apparel. Additionally, customers can curate their own experiences by creating wishlists and receiving notifications about restocks and exclusive offers.
Read the full profile in the RetailX Global Fashion 2024 report. It is one of 11 in-depth company profiles, with ASOS, Depop, Enjoei, GAP, H&M, Muji, Red Bubble, Target, Victoria’s Secret and Zozo Town also covered.
The road ahead for fashion is also explored in the Global Fashion 2024 Report, with the sector leading the way in how technology is being used in ecommerce. The report discussed the increasing role of AI in pricing and stock control, the future of social fashion and the changing attitudes to inclusivity and sustainability.
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