NIKE TO SELL PRODUCTS THROUGH INSTAGRAM
Nike (NKE) CEO Mark Parker announced a partnership with Instagram (FB), enabling the company to sell products "seamlessly" within the photo sharing app. It's the second major partnership (AMZN) recently announced by Nike, as the company looks to increase revenues by selling directly to the consumer. Instagram, who will not be taking a cut of purchases, now enables brands to tag their products in photos and enables consumers to purchase products within the application.
Howie Long-Short opines: Nike's playing catch-up in the digital world. This makes sense though. After trying to defend direct channel exclusivity via stores and nike.com for years, they're finally facing reality. Amazon cannot be ignored.
Fan Marino says: Kendall Jenner got $250,000 for a single Instagram Post. In my next life, I would like to come back as a brand influencer.