Nike signs merchandising agreement with New York City

NEW YORK (AP) — Sneaker giant Nike will sell New York City-branded merchandise under a two-year licensing agreement.

The deal reached last week will allow Beaverton, Oregon-based Nike to sell apparel with the logos of the NYPD or other iconic city institutions.

A Nike spokeswoman said the deal is the company's first agreement for a merchandise license with a city in North America.

The agreement gives 5% of Nike's revenue on the branded merchandise to NYC & Company, New York City's tourism bureau.

Nike has come under criticism for its labor practices in the past. But Jane Meyer, a spokeswoman for Democratic Mayor Bill de Blasio, said Nike has agreed to the ethical standards typical in the city's licensing contracts.

The branding deal was first reported in the news site The City.