Grupo SBF renews Nike distribution deal in Brazil to 2034

On 28 August, Grupo SBF signed an amendment extending its exclusive distribution agreement with Nike in Brazil until 31 May 2034. The deal, signed via subsidiary Fisia, includes an automatic renewal clause allowing the parties to negotiate an additional 12-month extension every year. According to CFO and Investor Relations Director José Luís Magalhães Salazar, the update expands the partnership's visibility horizon from five to seven years.

Under the contract, first signed in December 2020, Fisia retains three exclusive functions in Brazil: wholesale distribution of footwear, apparel, accessories, and equipment; operation of the nike.com.br e-commerce platform; and management of Nike-branded physical stores.

On Wednesday 16 September, Nike reached 53 physical stores in Brazil after inaugurating a 981-square-meter unit in Shopping Anália Franco in eastern São Paulo. Cleber Arcuri, general manager of Fisia, stated that the opening marks an important step in the company's expansion, with further store inaugurations already prepared for 2027.

The contract extension arrives amid mounting competition from running-focused brands opening direct-to-consumer stores in Brazilian shopping centers. Skechers operates five proprietary stores, aims for 10 by year-end, and targets more than 100 over the long term. France's Hoka operates three stores across São Paulo, Curitiba, and Rio de Janeiro. Grupo SBF CEO Gustavo Furtado told Bloomberg Línea that proprietary store openings by brands like Skechers, On, and Hoka present a challenge for Centauro, though he views the chain's multi-brand model as an advantage.