Nike ECONOMIC

Supply Chain & Sourcing Relationships

Delta Galil Industries Ltd.’s 2024 Periodic Report identifies Nike among its key private-label customers, alongside Victoria’s Secret, Walmart, Skims, Target, and Amazon.¹ Who Profits’ Delta Galil profile, stated to be valid through 22 October 2024, likewise lists Nike as a private-label customer.² These sources establish a Nike–Delta Galil customer relationship in 2024; no post-2024 primary disclosure retrieved confirms that the relationship continues, so its current status is unknown.^{1, 2}

Who Profits documented a 1,680-square-metre Delta Galil warehouse in Barkan industrial zone in May 2011 and reports Delta Israel Brands branches in Pisgat Ze’ev and Ramot in East Jerusalem and Ma’ale Adumim in the West Bank.² Delta Galil is included in the OHCHR business-and-human-rights database, and Who Profits describes its settlement-linked activity.^{2, 3, 4} The evidence documents Delta Galil operations, not Nike operations, and does not independently establish that the Barkan warehouse remains leased or active today.² No public evidence identified of Nike-owned production, warehousing, or Nike-branded retail activity at the Barkan warehouse or another specifically identified settlement location.^{5, 6}

G1 Secure Solutions, formerly G4S Israel, lists Nike among its “general business partners” or corporate clients in the retained Who Profits profile.⁷ That profile does not identify the services, dates, contract value, sites, or current status of any Nike–G1 arrangement.⁷ Who Profits separately reports G1 work for Israeli police and prison bodies, including a 2021 police contract reported to run to 2026 and prison-service work in 2022; these are G1 activities, and no public evidence identified tying Nike to those state-facing contracts or to checkpoint or prison services.⁷

No public evidence identified of Nike sourcing from Mehadrin, Hadiklaim, Galilee Export, Agrexco successors, or other Israeli agricultural exporters.^{1, 2} No public evidence identified of recurring counter-seasonal agricultural procurement, indirect white-label agricultural sourcing, or an Israeli importer-of-record arrangement for such goods.^{1, 2}

Product Origin, Labeling & Regulatory Compliance

No public evidence identified linking Nike products to goods labelled “Produce of Israel” that originated in the West Bank, Jordan Valley, or Golan Heights.^{8, 6} No public evidence identified of a government advisory, customs audit, enforcement action, or regulatory citation concerning Nike’s country-of-origin labelling for settlement-origin goods.^{8, 6}

Nike’s Supplier Code of Conduct addresses forced labour, child labour, foreign migrant workers, and environmental standards.⁸ No explicit policy language was identified in the supplied record prohibiting sourcing from occupied territories or settlement-linked suppliers, and no further territory-specific sourcing or labelling policy was identified.⁸

Investment, Capital & Financial Exposure

Nike acquired Israeli computer-vision company Invertex Ltd. in April 2018.⁹ Nike subsequently operated a Tel Aviv R&D and development centre built around Invertex, which trade reporting states was closed in March 2023 as part of wider cost reductions, with the team laid off.^{10, 11} The evidence supports a former Nike-owned Israeli technology operation; no public evidence identified of a continuing Invertex R&D centre, current Invertex headcount, Israeli manufacturing facility, or current ownership percentage beyond the group-subsidiary evidence discussed below.^{10, 12, 11}

Nike’s FY2026 Form 10-K contains no textual reference to Israel and reports geographic activity through EMEA rather than an Israel-specific segment.⁶ No public evidence identified of Nike disclosing Israeli securities, Israeli sovereign bonds, Israel-focused fund holdings, or Israel-specific capital investment in its reviewed filings.^{13, 6}

No public evidence identified of a Nike, Inc. corporate investment in Miggo.^{13, 11, 14} Miggo’s current site does not disclose Nike, Inc. as an investor, and no Nike filing, Nike announcement, Miggo announcement, funding document, or named Nike corporate-investment vehicle in the supplied record establishes such an investment.^{13, 14} An individual investor’s Nike employment history, without primary investment documentation, is insufficient to attribute an investment to Nike, Inc.^{13, 14}

Nike’s careers posting R-87399 describes enhancement of existing CyberArk/Cerberus privileged-access platforms and their integration into Nike credential infrastructure; this supports a technology-use relationship, while the reviewed record does not disclose procurement value, licence count or a corporate investment.¹⁵ CyberArk’s current web address redirects to Palo Alto Networks’ Idira page, but that fact establishes no Nike relationship; CyberArk’s separate corporate or state-facing activities cannot be attributed to Nike without a verified Nike relationship and contract scope.¹⁶

Nike is a non-financial consumer-products company.⁶ No public evidence identified of Nike underwriting Israeli sovereign debt or Israel Bonds, lending to Israeli defence companies or OHCHR-listed companies, asset-management exposure, or insurance underwriting.^{13, 6}

Through the documented 2024 Delta Galil supplier relationship, Nike had indirect financial exposure to a company with reported settlement-linked operations.^{1, 2, 3}

Operational Presence & Market Activity

Fox Group states that its subsidiary Retailors received an Israel licence in November 2014 to establish a Nike store chain and acquired the activities of third-party licensees.^{17, 18} Fox’s current Nike page states that Retailors operates 23 Nike stores in Israel, while Fox-Wizel’s 2025 annual-report material reports 29 Nike stores in Israel as at 31 December 2025.^{17, 18, 19} The dated 29-store disclosure is the strongest retrieved national count, while the undated 23-store webpage count is not reconciled with it in the supplied evidence.^{18, 19}

Retailors’ 2026 investor presentation describes active Nike-store operations and closures during late-February to early-March 2026 security restrictions, supporting continued Nike-branded Retailors activity after July 2024 and November 2024.⁵ Retailors’ current website describes Fox Group’s Nike and Foot Locker operations as international franchise operations.²⁰ Fox also states that Retailors entered a February 2020 master-store agreement with NIKE European Operations Netherlands B.V. for selected European countries, but the cited page does not state that this agreement replaced or terminated the Israel licence.¹⁷

The 2021 reports describe Nike’s decision to end relationships with Israeli multi-brand shops effective 31 May 2022, while continuing distribution through Nike-owned stores and digital channels.^{21, 22} The current Fox/Retailors pages and the 2025 Fox-Wizel disclosure show that the Retailors licence and store operation continued after that wholesale-policy change.^{17, 19, 20} The evidence therefore supports an end to the identified multi-brand-shop relationships, not an end to the Retailors franchise or licence arrangement.^{21, 22, 17, 19}

Nike’s current Israel directory lists retail locations in Central, Haifa, Jerusalem, Northern, Southern, and Tel Aviv categories, although the category figures should not be treated as a consolidated national count without resolving possible overlap.²³ Nike’s Jerusalem directory identifies Jerusalem Factory Store at Pierre Koenig 27, Talpiot; Nike Store Mamilla at 8 Mamilla Boulevard, marked “Partnered”; and Nike Well Collective Malcha at Malcha Mall, marked “Partnered.”¹⁸ Nike’s directory also marks numerous Tel Aviv-area locations as “Partnered,” including Sarona, Azrieli, Dizengoff, Ramat Aviv, Shenkar, Tel Aviv Port, Ayalon, and Gindi TLV.²⁴

“Partnered” and “Factory Store” are directory labels, and the reviewed pages do not provide a store-by-store legal-owner or operator map.^{23, 18, 24} The Israel directories do not label the Holon or Jerusalem factory stores as “Partnered,” but no public evidence identified sufficient to classify those unlabeled stores as Nike-owned.^{18, 24, 6} The individually verified directory entries do not establish Nike-branded locations in Ma’ale Adumim, Pisgat Ze’ev, Ramot, another West Bank settlement, or the Golan Heights, and no territorial classification should be inferred solely from a national store count.^{23, 18, 24}

Nike operates an Israel-specific retail site with current product-shopping links, evidencing active Israel-market digital availability.²³ The supplied evidence does not establish the identity of the importer, seller of record, local workforce, tax registrant, or warehouse operator for that channel.^{23, 12, 6}

No public evidence identified of Nike- or Retailors-branded sales, operations, warehousing, or services in a specifically identified West Bank settlement or Golan Heights location.^{23, 18, 5, 24} This conclusion does not resolve Delta Galil’s separate reported settlement-linked operations.^{2, 3}

Corporate Structure & Foundational Ties

NIKE, Inc. was founded in Oregon in 1964 and is an Oregon corporation.^{13, 6} Nike’s FY2026 Form 10-K identifies its principal executive offices as One Bowerman Drive, Beaverton, Oregon, and Nike identifies its Beaverton campus as its headquarters.^{25, 6} Nike is not Israeli-founded, Israeli-domiciled, or Israeli-headquartered, and no Israeli principal-management or dual-headquarters tie was identified.^{13, 25, 6}

Nike identifies Elliott Hill as President and CEO, Mark Parker as Executive Chairman, and Philip H. Knight as Chairman Emeritus.²⁵ The FY2026 Form 10-K identifies Hill as President and CEO since 2024 and Parker as Executive Chairman.⁶

Nike Israel Ltd., company number 513155630, appears in Nike’s 2010 SEC Exhibit 21 subsidiary schedule and in an Israeli organisation profile.^{26, 27} Audited NIKE Retail B.V. financial statements list NIKE Israel Limited, Tel Aviv–Jaffa, Israel, as a 100%-owned subsidiary of NIKE Retail B.V. as at 31 May 2024, and state that NIKE Europe Holding B.V. was NIKE Retail B.V.’s sole shareholder.¹² This is primary group-account evidence of a Nike-owned Israeli operating subsidiary as at that date, but it does not specify the entity’s functional activities, Israeli revenue, employees, tax payments, importer-of-record status, or warehouse role.¹²

A commercial presentation of Israeli Companies Registrar data reports NIKE ISRAEL LTD. as an active Israeli private company incorporated on 21 October 2001, with a Tel Aviv–Jaffa address and a 2024 annual-report submission, and displays Nike Retail B.V. in its ownership or management results.²⁸ This is secondary registry-data evidence and should be confirmed with a certified Israeli Registrar extract before being relied upon as formal registry proof.²⁸ Nike’s FY2026 Form 10-K includes a subsidiary exhibit, but the exhibit was not retrievable in the supplied research, so the current primary filing does not establish Nike Israel Ltd.’s present ownership chain or operating role.⁶

Nike’s annual-report materials identify Class A and Class B common stock.¹³ No public evidence identified of Israeli state ownership, state-appointed directors, government contracts, critical-national-infrastructure designation, golden-share rights, Israeli tax residence, Preferred Technology Enterprise status, or governance mechanisms tying Nike to Israeli state policy.^{13, 6} No public evidence identified of material Israeli-company investments by Philip H. Knight, Elliott Hill, Mark Parker, current C-suite members, directors, disclosed holders of at least 10% of Nike stock, or identified family-office vehicles; this is a targeted public-record result rather than proof that such interests cannot exist.^{13, 25, 6}

Profit Repatriation & Economic Contribution

Nike’s FY2025 and FY2026 filings report NIKE Brand geographic operations in regions including EMEA, rather than Israel-specific revenue, assets, workforce, or operating-segment figures.^{13, 6} No public evidence identified of Nike disclosing revenue specifically attributable to Israel.^{13, 6}

Fox-Wizel’s disclosure of 29 Nike stores in Israel at 31 December 2025 evidences retail activity by the Israeli licensee, not a disclosed Nike, Inc. Israel-revenue figure.¹⁹ No public evidence identified of the direction of profit repatriation between Nike Israel Ltd., Retailors, and Nike, Inc.; Nike Israel tax payments; or Nike Israel workforce size.^{13, 12, 19, 6}

No public evidence identified of an Israeli government designation or industry assessment characterising Nike as a key employer, sector anchor, or critical provider.^{13, 6} Nike is not listed on the cited Norwegian Government Pension Fund Global exclusion list or KLP exclusion list.^{29, 30}

AFSC Investigate’s August 2022 validity note states that Delta Galil’s Barkan warehouse was no longer active. This qualifies the historical Who Profits facility description; neither source establishes Nike goods at that warehouse.^{2, 31}