Nike has agreed to sell more than $2 billion worth of its athletic gear, including footwear, sneakers, apparel and accessories, the company said in a filing on Wednesday.
The deal will be the biggest in the company’s history, surpassing the $1.5 billion sale of the company in 2014.
The deal will include Nike’s Nike+ fitness products and other fitness gear from all its brands, including its popular Air Max and Air Jordan lines.
Nike has also agreed to make $2.5 million cash payments to the retail outlets where it sells its gear.
Nike will sell its fitness gear at a range of retailers, including Macy’s, Target and Amazon.com, which will sell it in stores, through a “multi-level” retail network, the companies said in the filing.
It will also sell its Nike+ gear through a limited number of retailers in Europe and Asia.
The company has been struggling with declining sales of its fitness products, with revenue falling by almost a quarter in the last year, according to analysts polled by Bloomberg.
Its apparel business has been hurting as well, with sales falling by 3.7 percent in the past year.
The sale includes Nike’s popular Air Jordan line, which has seen sales decline by nearly two-thirds.
Nike’s revenue in 2017 was $4.3 billion.
Nikes CEO Mark Parker, who took the reins in 2016 after Steve Jobs died, said he expects Nike to be a $2 trillion company by 2025, up from $2,300 billion in 2018.
Shares of Nike closed up 2.7% to $32.50 in premarket trading.