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Nike sees life after Jordan
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February 1, 1999: 12:37 p.m. ET
Nike chief slightly upbeat about Asia, not worried about life without Jordan
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DAVOS, Switzerland (CNNfn) - Nike Inc. is discovering there is life after Michael Jordan.
The Beaverton, Ore.-based athletic apparel company may have been caught off guard when Jordan retired the first time, but this time around, Nike is ready to carry on without basketball's biggest icon running up and down the court every night in a pair of Nike's.
"I'd rather he retire than play without his normal enthusiasm and that was sort of the decision that he made," Nike Chaiman Philip Knight told CNNfn in an interview at the World Economic Forum here.
The last time Jordan retired in 1993 to pursue a career in minor league baseball, Knight said sneaker sales remained steady in the United States but slipped overseas. Meanwhile, apparel sales fell, both at home and abroad.
However, this time around Nike is ready.
"He's bigger now, we're more prepared for it now," Knight said, noting Jordan represents about four percent of the company's worldwide sales.
"We really don't think it will be a disaster. In fact, we think there's a good chance sales of Jordan products will go up in the next 12 months, and even if they do go down it won't be significant," he added.
Nike hopes Jordan's retirement won't cripple sneaker and sports apparel sales
Knight said Nike continues to face a challenging market, but there are some signs of a turnaround.
In Asia, for example, he said orders have just started to go positive again. However, the market in United States was still going through a "shakeout" period as retailers consolidate.
Asked how long the shakeout period is expected to last he said it could take another six to eight months.
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Nike
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