Nike pushes even further down tech innovation route
Nike has long been the top dog when it comes to sneaker sales. In a lot of ways, the athleisure giant pretty much created the modern market that it shares with brands like Puma and Adidas. But Nike is fast becoming a kingpin in a different area: technological innovation.
Last Thursday, Nike launched its most ambitious SNKRS stash drop yet. If you’re wondering what that sentence means, have no fear: SNKRS is the name of Nike’s mobile app, and a “stash drop” is a draw to win “the most coveted” sneakers on the market. It’s a great example of how Nike is mingling various elements with high technology to redefine its brand.
Nike’s share price has risen by 9% so far this year
Source: Yahoo Finance
This particular SNKRS stash drop was a first for Nike, as it was launched in conjunction with Kendrick Lamar’s Top Dawg Entertainment. It’s the first capsule collection that Nike has ever undertaken with a musician – no doubt taking its inspiration from Adidas and Puma, which have worked with Kanye West and Rihanna (amongst others), respectively.
Nike is not just innovating itself culturally by getting itself involved in the music scene. It’s not just pursuing technological innovation through its app, either. You can get a feel for how Nike is using its NikeConnect tech to create an ecosystem of content and services in the video below:
Talking about NikeConnect, a spokesperson for the company said: “NikeConnect [is] a great way for us to get interesting data about our members and deliver unlocks that are relevant to those members. We’re excited to learn how unlocks are being received right now. There is a pretty comprehensive ecosystem of value that we’ve been building for our members… Members who are really active with us are getting rewards or achievements [and] that could include partners like Apple… that we’ll be bringing to the table to round out your whole holistic sport experience.”
Dominion holds Nike in its Global Trends Luxury Fund.
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