Nike and its rival, Starbucks, are opening Nike-branded stores in major cities and towns around the U!
According to a report in The New York Times, the two brands are expected to open more than 20,000 stores by the end of 2020.
While Nike and Adidas are still far behind Starbucks in the retail world, they are making strides in the apparel and footwear space.
Nike will open a Nike store in Manhattan’s Financial District in the coming months, according to The Times.
The company will open at 200 Third Avenue between Seventh and Eighth Streets, and the outlet will feature a Nike design and will offer more than 50 percent off Nike footwear.
In April, the New York City Department of Consumer Affairs approved a plan for the first Nike store to open in the borough of Manhattan.
Nike and Adidas will open more stores than Starbucks in 2020.
The Nike and Dunkin Brands will open the first Starbucks stores in a dozen U.K. cities in 2020, according a report from The Times, which also reports that the Dunkin store will offer “a premium, Nike-inspired design” and offer “more than 40 percent off retail prices.”
The store will be located at a new Dunkin shop on Oxford Street in central London.
Starbucks, meanwhile, will open stores in 20 major U.M. markets and two smaller U.C. cities over the next two years, according the Times.
The U.N. Food and Agriculture Organization (FAO) has predicted that the global population will reach 10 billion by 2030, and as many as 2 billion of them will be living in urban areas, according The Times.
According to the report, urbanization has become a key driver of climate change and deforestation.
“We must do more to reduce greenhouse gas emissions and reduce the demand for food in cities,” FAO chief Fatou Bensouda said in a statement.
“But we also need to do more in food production to ensure the sustainability of the food supply chain.”