New York City is jumping feet first into a business deal with the sneaker and apparel giant Nike, licensing NYC logos in exchange for a cut of sales — and a promise to be good to its workforce around the world.
The city Franchise and Concession Review Committee approved a two-year licensing agreement Aug. 14 that gives the shoe giant permission to brand their apparel with signature New York City iconography.
The license agreement gives 5% of Nike’s annual revenue on the branded merchandise to NYC & Company, the city’s tourism bureau, with a guaranteed minimum of $20,000 over the next two years.
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4 comments:
"...and a promise to be good to its workforce around the world.."
Promises, promises.
Wow! This is MEGA!! NYC is guaranteed $10,000 per year for the next two years because of this landmark deal. Might cover weekly overtime for commie mayor's security detail. Film at 11.
New York is looking for any $$$ they can get now that their darling AOC killed 20,000 good paying jobs with Amazon!
I wouldn't buy a pair of Nike's for myself or my child if we had to walk barefoot in the snow in Siberia.
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