By Richa Naidu
CHICAGO (Reuters) – Nike Inc (NYSE:) said on Monday it will start refurbishing sneakers – from Vapormaxes to Reacts – returned by shoppers and selling them at cheaper prices, a service offered increasingly by retailers to reduce consumer waste.
The Beaverton, Oregon-based company said it would clean up gently worn, like-new or slightly imperfect sneakers by hand and resell them “at a value for consumers” at certain Nike stores. To qualify for refurbishment, the sneakers need to be returned to Nike stores within 60 days of purchase.
“Up to fifteen U.S.-based stores will carry Nike Refurbished footwear by the end of April 2021, with plans to integrate more of this product at additional U.S.-based stores in the coming year,” Nike said in a statement.
Nike is continuing to explore future expansion of the program to markets outside the United States.
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