Nike VP Resigns After Son’s Rs 96 Lakh Sneakers Purchase

Harin - Mar 03, 2021


Nike VP Resigns After Son’s Rs 96 Lakh Sneakers Purchase

Joe Hebert used his mom's credit card to spend $132,000 or Rs 96 lakh on limited-edition sneakers and resell them at his own small company.

A Nike executive resigned from her position after her 19-year-old son used her credit card to spend $132,000 or Rs 96 lakh on limited-edition sneakers and resell them at his own small company called West Coast Streetwear.

In its article, Bloomberg Businessweek described in detail how Joe Hebert, the son of Ann Hebert, was able to purchase these sneakers at a discount rate that was even higher than that of well-known retailers like Foot Locker, FlightClub, etc.

Joe Hebert
Joe spent $132,000 or Rs 96 lakh on limited-edition sneakers and resell them at his own small company.

One source said that Joe would buy shoes in bulk from Nike stores, at a high discount thanks to his mother’s name, then resell them. And he was able to make more than $20,000 of profit.

After working in various sales roles at Nike since 1995, Ann Hebert has held many positions including head of sales in North America, general manager of the Asia Pacific and Latin America. In June last year, she was appointed to become vice president of the Global Nike Direct Partner business, leading the North America sales team.

Under company policy, Nike does not allow its employees to participate in shoe reselling (reselling shoes at a price higher than the market price). This has enraged many shoe enthusiasts and accused Joe of relying on his family to create an unfair game of sneakers.

Ann Hebert
Ann Hebert has held many positions before becoming the vice president.

Nike announced that the departure of Ann Hebert would be in effect immediately. A new head for geography will be appointed soon. In its statement, the company stated that the case of Ann Hebert was voluntary resignation.

>>> Nike Plans To Roll Out First Blockchain-Based Sneakers

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