The Nike executive resigns after her son used his credit card to buy $ 200,000 worth of sneakers for his sneaker resale business. – tech2.org

The Nike executive resigns after her son used his credit card to buy $ 200,000 worth of sneakers for his sneaker resale business.


Ann Hebert, a Nike NKE vice president who served as general manager for her North America region, has left the sportswear giant after 25 years, the company announced in a two-sentence press release, after a Bloomberg report on Feb.25 will detail the deal. deals from Hebert’s son, a sneaker dealer.

Bloomberg reported that 19-year-old Joe Hebert used one of his mother’s credit cards, his corporate American Express card, to buy more than $ 200,000 worth of shoes with the goal of reselling them at a profit.

The buyer of the new KAWS x Air Jordan IV sneaker kisses his purchase during the limited sale in Berlin.

fake images

Shoe resellers buy shoes from manufacturers such as Nike and Adidas ADDYY,
-0.72%
and other providers to resell on the secondary market on sites like Facebook FB,
-2.23%,
eBay EBAY,
-2.55%
and StockX. The global sneaker reseller market was worth $ 6 billion in 2019 and is likely higher now, according to Cowen Equity Research.

Joe Hebert said he had “never received any inside information” from his mother.

Nike’s representative, Sandra Carreon-John, was quoted in a Bloomberg story last week as saying that Ann Hebert told Nike about her son’s business in 2018 and that she did not violate any “company policy, insider information or information. conflict of interests”.

See also: What is NBA Top Shot? Everything you need to know about the digital asset with more than $ 230 million in transactions

Nike’s media relations team told MarketWatch that it was Hebert’s decision to quit Nike. Hebert did not immediately respond to MarketWatch’s requests for comment.

Nike’s shares were up 52.3% last year, compared with a 30.2% rise for the benchmark S&P 500 SPX index.
-0.81%
during the same period.

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