After celebrating the 30th anniversary of its China operations last year, Nike plans to boost infrastructure spending by establishing its new corporate headquarters in Shanghai's Yangpu district to support the rapidly growing business in its second-largest market after the United States.
The sporting goods giant yesterday said it signed a long-term lease for an undisclosed amount with Tishman Speyer, which will build a complex spanning 54,575 square metres at the Springs, a high-end residential and office project.
The strategic investment follows steady gains in Nike's mainland, Hong Kong and Taiwan operations. Last year, the company reported for the first time revenue of more than US$2 billion in China for its financial year to May.
'This new headquarters will allow us to elevate and expand on our facilities and capabilities, while bringing all of our Shanghai-based employees together from our portfolio of Nike brands into one central campus,' said Craig Cheek, a general manager at the firm's China operations.
On completion in 2014, the Nike complex will include up to three office buildings, a soccer pitch and a basketball court. By comparison, Nike's global headquarters in Oregon comprise 17 buildings with an area of 185,806 sqmetres.
The new Shanghai campus would follow the opening of Nike's largest logistics centre in Taicang, Jiangsu province, in February last year, which handles all inbound and outbound Nike products.