Nike is stepping up its presence in Mexico. The company recently renewed and expanded its footprint at Conjunto Legaria Torre I, where it will occupy 4,800 square meters over the next four years. From the Miguel Hidalgo borough, the brand is reinforcing its operations hub in the country’s capital, amid internal adjustments and a push for greater operational discipline at the regional level.

Over the past year, Nike’s revenues in the Asia-Pacific and Latin America region declined 3% on a constant-currency basis, weighed down by weakness in Asia but partially offset by stronger performance in Mexico. At the same time, the company posted a sharp contraction in digital sales (-9%), compared with modest growth in comparable physical stores (1%). In that context, Mexico has emerged as a market that supports execution and stability within a region under pressure.

That disciplined approach is also evident in Nike’s physical retail footprint in Mexico. By the end of 2025, the brand had increased its gross leasable area in large-format shopping centers to nearly 17,000 square meters, representing annual growth of about 10%, alongside a moderate increase in the number of stores. In absolute terms, Nike remains one of the largest retail networks in its segment, but without resorting to accelerated expansion.

The contrast with other brands is telling. While New Balance and Reebok posted sharp gains from smaller bases, and Adidas and Skechers expanded their footprint through more aggressive strategies in both square meters and store openings, Nike chose to consolidate existing locations and optimize performance per store.

This logic—focused on operational control rather than visibility—is consistent with Nike’s office strategy in Mexico City. As the company has acknowledged, in the words of Chief Executive Officer Elliott Hill, it is prioritizing actions aimed at sustaining long-term growth even without a strong revenue tailwind, through team realignment, stronger partner relationships, portfolio rebalancing and greater execution on the ground.

This behavior is not unique to Nike, but indicative of a broader sector trend.

In Mexico City’s office market, apparel, footwear and accessories companies operate as stable users, with needs centered on commercial management and corporate support. According to SiiLA data, the sector accounts for about 2% of tenants and roughly 1% of total gross leasable office area. While its relative weight is limited, its trajectory has been steady: between 2020 and 2025, occupied space grew at a compound annual rate of about 3%, with low turnover and no abrupt expansions.

This pattern points to a type of demand in which companies like Nike prioritize permanence over growth. In practice, they renew leases when properties offer efficient floor plates, functional flexibility and predictable costs, while avoiding oversized spaces or rigid long-term structures. In this segment, asset value lies less in capturing rapid growth than in reducing operational friction—spaces that work well, adapt without disruption and eliminate the need to relocate, a key condition for retaining corporate tenants in periods of selective growth.

For more data, time series and analysis of Mexico’s corporate real estate market, visit SiiLA Market Analytics or contact us at contacto@siila.com.mx.