Nike Closes Stores in South Africa After Racist Video Goes Viral

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Nike (NYSE:NKE) announced on Wednesday that the company will be closing the doors of several of its stores in South Africa following a racist incident that took place in a beach resort.

NikeThe athletic apparel and footwear maker was pressured by local media to shutter some of its stores in the African nation after a video went viral. The video saw a white man with a link to the company make some racist statements despite the fact that it’s been nearly 25 years since apartheid ended in South Africa.

“And not one kaffir in sight,” said the man at the beach resort. “Fucking heaven on earth.” The “K word” was used widely in the apartheid-era South Africa as a slang for a black person, which many consider to be deeply offensive to a similar extent as the “N word” in the U.S.

Nike did not comment on why it closed certain stores, but the company did release a statement noting that it has a “long-standing commitment to diversity, inclusion and respect.” The company added that the man who appeared in the video was not a Nike employee.

However, Times Live said that the man is married to a merchandising director at Nike, although it is unclear if she will face any consequences for his actions.

NKE stock was up about 0.2% on Wednesday morning despite the news.


Article printed from InvestorPlace Media, https://investorplace.com/2018/08/nike-south-africa-nke/.

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