One more Nike company's store was opened in China's capital Beijing on Friday. The company increases its presence in the country as the Chinese economy grows and the next year's Olympics approaches.
The Beijing store is the largest of about 3,000 Nike retail destinations in China. Nike previously sold products through other retail stores there, including some owned by partner companies or at Nike outlet stores. This is the company's first Nike-branded and -owned retail store in China.
China is one of Nike's largest markets. The Beaverton-based company says it is poised to be a $1 billion (EUR 730 million) business and Nike's second-largest market in the world.
"It's extremely exciting to open a flagship Nike retail presence in one of the world's great cities," Nike brand President Charlie Denson, who was at the opening, said in a statement. "China is one of Nike's biggest growth opportunities, and one of the most dynamic retail markets in the world."
The 13,000-square-foot (1,208 sq. meter) store is at Wang Fu Jing in one of Beijing's premier shopping districts and is within walking distance of Nike-sponsored Dong Dan Park.
For the Beijing 2008 Olympics, Nike is sponsoring 22 of the 28 Chinese federations.