The swoosh brand is reportedly increasing its prices on sneakers that cost £74.50 or more by as much as £7.50 from June 2025 due to Trump tariffs.
Nike veteran, Elliot Hill, was drafted in as the new CEO of Nike back in September 2024 to steer the swoosh back to the top with the intention of turning things around in a relatively short period as the brand faced growing competition from new kids on the block like Hoka & On. With heavy discounting on classic swoosh models and a stock price that had dropped to its lowest value in 5 years, Nike’s “Win Now” campaign was launched to steer the swoosh back to the very top. Then Donald Trump came along (again) and started playing deal or no deal with its main trading partners. In a bid to bring back manufacturing to the USA, Trump introduced his reciprocal tariffs, heavily hitting the traditional manufacturing hubs of China & South East Asia, sending sneaker & sportswear stock tumbling. With heavily increased costs to import your products to your main market from the region where you manufacture the majority of goods has proved to be a logistical nightmare for the swoosh brand. It was either they absorbed the tariffs as an operating cost, cutting into their profits, or putting up their prices. KULT can now confirm that from June 2025 Nike is set to hike its shoe prices that cost £74.50 by as much as £7.50.
Nike will also increase the prices of equipment & apparel which is also set to jump between £1.50 & £7.50. The swoosh brand also confirmed that it will begin to sell items directly to Amazon in the USA for the first time since 2019. Jordan & Nike’s kids category will not be affected by the proposed price hikes. Wholesale prices (the price retailers pay) will also increase from July 2025. Even though there is currently a 90 day tariff pause on goods entering the US from China, the uncertainty in the footwear & apparel industry has meant brands like Nike, and adidas, have had to act quickly to try and navigate the changing landscape of their traditional manufacturing hubs. With classic swoosh silhouettes like the Nike Air Max 95 already costing £175 on the Nike website, a further price increase is only going to hit the wallets of its core consumers. Also don’t forget to subscribe to KULT & follow @kult_recruit to keep up to date with all the latest industry news.
