An Analysis of Nike Inc.’s Role as a Multinational Corporation in the Global Value Chain of the Footwear Industry, 2020–2024

Khairani Alawiyah Matondang (Universitas Negeri Medan)
Grace Sari Adinda Pakpahan (Universitas Negeri Medan)
Nursaidah Fitriyani Sirait (Universitas Negeri Medan)
Amelia Shanna Adrave Sihombing (Universitas Negeri Medan)

TOFEDU: The Future of Education Journal
Vol 5 No 3 (2026)

This study analyzes the role of Nike Inc. as a multinational corporation in the Global Value Chain (GVC) of the footwear industry for 2020–2024. Nike applies an asset-light model without owning factories. Using descriptive qualitative methods with secondary data from Nike's annual reports (Form 10-K) and supporting GVC journals, the results show that in FY2024 Nike coordinated 96 footwear factories in 11 countries and 285 apparel factories in 33 countries, with Vietnam as the largest base (±50%), followed by Indonesia (27%) and China (18%). Nike's FY2024 revenue reached $51.36 billion with net income of $5.7 billion. Nike serves as a GVC coordinator integrating design, production, distribution, and global marketing.