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NKE - Nike Inc News Story

$135.93 2.3  1.7%

Last Trade - 14/05/21

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £152.36bn
Enterprise Value £150.15bn
Revenue £27.32bn
Position in Universe 43rd / 6846

UPDATE 1-Nike settles lawsuit against maker of Lil Nas X 'Satan Shoes'

Thu 8th April, 2021 10:40pm
(Adds details of settlement)
    NEW YORK, April 8 (Reuters) - Nike Inc  NKE.N  said on
Thursday it has settled its lawsuit against a Brooklyn company
that made "Satan Shoes" in collaboration with the rapper Lil Nas
X, and that the shoes will be recalled.
    The settlement with MSCHF Product Studio Inc resolves a
trademark infringement lawsuit that Nike filed last week over
the black-and-red, devil-themed sneakers, which carry the Nike
"swoosh" logo and cost $1,018 a pair.
    Lawyers for MSCHF were not immediately available for
comment.
    MSCHF's shoes are customized versions of the Nike Air Max 97
sneakers, with midsoles purporting to contain one drop of human
blood.
    They are also printed with "Luke 10:18," a biblical passage
referring to Satan's descent from heaven. Only 666 pairs were
made.
    Nike said MSCHF agreed to back any Satan Shoes and Jesus
Shoes, which were launched in 2019 and also based on the Air Max
97, for their original retail prices, "in order to remove them
from circulation."
 


 (Reporting by Jonathan Stempel in New York; Additional
reporting by Blake Brittain
Editing by Chris Reese and Matthew Lewis)
 ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters
Messaging: jon.stempel.thomsonreuters.com@reuters.net))
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