Chinese TV accuses Nike of dishonest advertising
March 20, 2017 Category Retail, Weekly
Nike has become the latest foreign brand to be caught by China’s annual consumer protection “name-and-shame” TV show on March 15. Consumers claim to have been misled into believing that Nike’s Hyperdunk basketball shoes included high-tech sole cushions. The show, watched by hundreds of millions of viewers during the annual “315 Gala,” could deliver a backlash to Nike in its second largest market and profit center. The company’s shares fell almost 1% to USD56.75 in U.S. trading while the show was being aired. Nike was singled out for having falsely advertised its “limited edition” basketball shoes that sell for over USD200 in China. Nike said that it had sold 300 pairs of the Hyperdunk 2008 FTB in China, inaccurately stating that the shoe contained air bags, adding that it had offered compensation and an apology to consumers.
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