Since the Covid outbreak, Nike factories across Vietnam have reopened. Nike apparel is made in Vietnam by about 200 contractual firms. Almost half of the footwear produced by the American sportswear behemoth is created in Vietnam. Textile and footwear production employs at least three million people in Vietnam. To boost manufacturing, the country has also prioritized vaccinating employees working in industrial parks. With nearly a third of the country’s population vaccinated, Vietnam has documented over 9,30,000 infections and 22,000 deaths. Vietnam, an export powerhouse, not only survived but thrived amid the trade war between the United States and China, as well as the early stages of the pandemic. Nonetheless, in the first half of July 2021, its trading prospects began to deteriorate. Computer and electronics shipments, as well as telephone equipment, fell in the first half of this month compared to the same time a year earlier.
Nike has registered many new trademarks, leading to rumors that the company is preparing to enter the metaverse. Nike will create and sell virtual Nike sneakers and clothing. Nike intends to create brands in a new web environment that will allow them to sell non-downloadable virtual footwear, clothes, hats, eyewear, bags, sports bags, backpacks, sports equipment, art, toys, and accessories for usage in virtual surroundings. After revenue increased to $12.25 billion from $10.59 billion in the first quarter ended August 31, Nike cut its fiscal 2022 outlook.