SA sneaker brand Bathu denies claims they are selling to US-based Nike for R1.4 billion 

A much-publicised takeover by American sports manufacturer Nike of South African shoe and sneaker brand, Bathu, has caused on social media but the local company has rubbished it.

Bathu SA says there is no agreement between or offer from Nike despite a social media post, suggesting the American company has forked out R1.3 billion to buy Bathu.

A social media user, Jan Van Potgieter, headed to Twitter to post the news that really left Mzansi confused but some didn’t buy the story that Bathu is sold.

The tweet by user @JanVanPotgieter read like this: “The world’s biggest clothing brand Nike has offered to buy Bathu for $75 million. Now we wait to see if Bathu will take the offer.”

The claim sent Twitter into overdrive with users weighing in on whether Bathu founder Theo Baloyi should sell or not. In some quarters the claim was met with scepticism.

https://twitter.com/JanVanPotgieter/status/1582408032717111300

Some argued that the R1.3 billion was just a slap in the face considering how far the local brand, Bathu has come too far.

Bathu has since moved to dispel the claims of a proposed or imminent sale. They did so via a clever tweet referencing the tag lines of both Nike and Bathu which read: “They just can’t do it. We’re still Walking Our Journey.”

Clarifying their stance to Independent Media Online, Bathu spokesperson Thando Mashalaba, said: “We know about the tweet, and its absolutely false. We are not selling to Nike or any other brand.”

Mashalaba expanded on “exciting” plans the brand has such as its recently launched Switch 1120 and Bathu’s eagerly awaited slides which are set to drop in November.

“Anyone who knows me well will be able to tell you that my vision is to see lovely brown children achieve the seemingly impossible in this world. I’ve always wanted to make sure that people have access to high-quality shoes and can buy them in locations that appreciate the uniqueness of each of us,” said Baloyi.

Bathu, a slang for a shoe in many South African townships, was founded by accountant-turned-entrepreneur Theo Baloyi in 2015 – he launched the brand with only 100 shoes and sold them to his friends and acquaintances.

He has come a long way since then and now owns over 34 stores countrywide and these are complemented by an e-commerce strategy that allows consumers to purchase and customise their sneakers from the comfort of their homes.

Baloyi has collected various awards in the business sector and they vary from: All Africa Young Business Leader of the Year – All Africa Business Leader Awards (2022), Africa Entrepreneur of the Year – Africa Choice Awards (2021), CEO of the Year – Future of HR Awards (2021) among others.

Main Image: Theo Baloyi/Instagram
https://www.instagram.com/theo_baloyi