June 14, 2022 |
Panama-based Regency Group has acquired the Argentine and Uruguayan businesses of Nike, expanding on its distribution of the US athletic apparel and shoes brand in Central America, Argentine media reported.
"We believe they will help drive the sustainable growth [of the brand] in these countries," Nike said of the buyer in a statement carried by the local press.
Nike had sought to sell the business to Mexican retailer Grupo Axo in 2020, but a decline in sales after the onset of the COVID-19 pand
Panamanian retail group picks up US apparel business on sale since 2020