The sportswear giant is the latest company to expand into the circular economy with its products.
Nike announced Monday that with Nike Refurbished, it would take back shoes that are “like-new, gently worn and slightly imperfect.” The company will fix them up and then sell them at a discounted rate to new shoppers. The program will be available in 15 stores in the US, with plans for expansion later this year.
Nike footwear has long been a powerful commodity in resale. Bringing a refurbish program in-house will help Nike see some of the profits that have gone to marketplaces like Fight Club. But the company isn’t offering a reward to shoppers for participating in the program the way brands like Madewell give shoppers $20 credit for bringing in old pairs of denim.