The fashion giant Nike has decided to sell its shoe business for $2.2-$3.2 trillion and to sell the shoes that are made for the high-fashion industry for $1.4-$2.9 billion.
The sale will come after Nike was bought by a Chinese company, Adidas.
Nike has said it plans to buy the footwear business to boost its profit margins.
The deal is the largest deal ever for a fashion brand in China.
The shoe company’s shares closed up $1 at $48.53 on Tuesday.