Inter owner’s Suning’s personal growth could be behind the decision to buy back the retail and licensing rights from kit manufacturer Nike according to a report in today’s print edition of Roman newspaper Corriere dello Sport.
Inter chief executive Alessandro Antonello confirmed after the annual shareholders meeting that the decision had been taken to buy back the rights from the American sportswear brand, something that will give Inter a lot more control and revenue.
As for Suning’s finances, the Chinese e-commerce giants have published their financial report for the third quarter of the year with their revenues sitting around the 25 billion mark – with 17 billion of that coming from online sales, an increase of almost 25% on the previous year.
The net profit distributed to the shareholders was 1.4 billion. The number of members registered on the retail web platform is also very significant with no less than 470 million now registered, meaning an increase of almost 50%. Finally, product orders made through suning.com rose by 61.83%.