NIKE Announces Plans for Greater China Headquarters

NIKE, Inc.

announced plans today for the development of a new centralized campus for Nike's employees in Shanghai, China. The nearly 600,000 square foot headquarters will be built at The Springs, Tishman Speyer's newest mixed-use development in Shanghai's Yangpu District. Nike's investment in developing this new centralized campus will support its long-term business growth strategy in China, where it celebrated 30 years of business in 2011. The Springs is Tishman Speyer's largest project in China and follows the development of previous successful commercial projects in Tianjin and Chengdu. “This announcement is very exciting and a strategic investment in our continued growth in China,” said Craig Cheek, VP & GM of Nike's Greater China geography. “This new campus 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, Inc. Brands into one central campus.” In June 2011, Nike reported more than $2 billion in revenue for the first time for this geography and in its second quarter FY12 earnings reported on December 20, Nike reported a 35% increase in its revenue there. “When we broke ground on The Springs in June, we were confident that world-class companies would recognize the value and importance of establishing a presence in Shanghai,” said Tishman Speyer co-CEOs Jerry Speyer and Rob Speyer. “The creation of the Nike Greater China Headquarters at The Springs underscores the strength of this market and importance of this development to the Shanghai business as well as residential communities. We're thrilled that Nike, one of the world's great global brands and companies, will be an anchor in this development and look forward to a long-term relationship.”