Nike is seeking to attraction to extra feminine clients via the brand new model, as choices for males account for greater than half its gross sales.
Nike has signed a “long-term” partnership with Kim Kardashian’s underwear label SKIMS to launch a brand new health model to be known as NikeSKIMS.
The 2 corporations mentioned in an announcement that they may create an “intensive line of coaching attire, footwear and equipment”, catering for feminine clients.
“Nike and SKIMS share a deep dedication to innovation, inclusivity and pushing boundaries, pushed by an unwavering perception within the energy of girls,” SKIMS co-founder Kardashian mentioned within the assertion.
“This partnership is the end result of that shared imaginative and prescient,” she defined.
Nike aiming to win over ladies
Nike is ramping up its efforts to attraction to ladies after CEO Elliott Hill assumed his publish in October final yr, changing John Donahoe.
Hill, who had labored for Nike beforehand and retired in 2020, was re-hired in a bid to show across the agency’s fortunes.
The model’s inventory value has fallen round 25% over the previous yr because the agency has misplaced out to rivals.
In an replace in December, Nike mentioned its revenues within the three months to 30 November fell 8% year-on-year, to $12.4 billion (€11.9bn).
In response to the earnings, Hill mentioned that the agency’s “clear precedence” was to “return sport to the middle”, arguing that the model had misplaced its roots and turn out to be too promotional.
Nike is now in search of to faucet right into a feminine shopper base to spice up its gross sales.
New advert showcases feminine athletes
Together with the SKIMS partnership, Nike debuted a brand new advert marketing campaign in the course of the Tremendous Bowl soccer recreation, showcasing feminine athletes like gymnast Jordan Chiles and basketball participant Caitlin Clark.
Nike has mentioned beforehand that solely round 40% of its clients are ladies.
SKIMS, in the meantime, was valued at $4bn (€3.8bn) in 2023.
The shapewear firm was based in 2019 by Kim Kardashian, together with enterprise companions Emma and Jens Grede.
The agency stays personal however some analysts imagine a partnership with Nike might increase investor confidence and pave the way in which for an IPO.
NikeSKIMS will launch its first assortment in the USA this spring, with a world growth set to comply with in 2026.
The visuals for the brand new model haven’t but been launched.