Nike to Start Offering Refurbished Discount Sneakers
Getting in on the surging secondhand clothing market, Nike (NYSE: NKE) revealed a new "Nike Refurbished" line of sneakers and athletic shoes, in which returned shoes are cleaned up and put on sale for a reduced price. The company is initially trying out the new product line at 15 store locations, scattered across the length and breadth of the United States from the East Coast to California. The press release says additional stores will be added over the course of the year, and international availability is also planned.
The shoes are selected from those returned within 60 days of purchase, the company's standard return period. Rather than being disposed of, these sneakers will now undergo inspecting and grading to determine their quality.
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Source Fool.com
