The king of athletic apparel and footwear has new offerings for the summer season, and no pandemic is getting this company down. Nike (NKE -1.02%) scored in its third quarter as revenue stayed in growth mode despite store closures and lockdowns, and the company is launching new products as growth returns to double digits in China, its fastest-growing market, and states in the U.S. begin to ease restrictions.
Style and Sport
Nike is releasing a new version of the Dunk shoe in collaboration with Japanese fashion brand Comme Des Garcons, with which it has released several versions of the product previously. The shoe is made with Nexkin, a material that is strong and transparent, and will come in a logo style as well as plain black. It will be launched directly through Comme Des Garcons and at lifestyle shop Dover Street Market, and will be available at other locations at a later date.
Commitment to sustainability
Nike-owned brand Converse is releasing a new line of its Renew sneaker featuring a blend of new cotton and discarded Canvas scraps from other designs. The line features earthy shades to complement the ecological-minded constructions, with names such as prairie sand, branded melon, noble gray, and mellow rose. The Renew collection will be launched at Converse.com.
Keeping the designs flowing
To maintain its lead in the footwear and apparel market, Nike employs over 1,000 designers. CEO John Donahoe said on the company's third-quarter conference call, "You can just feel how their creativity and vision for product inspires everyone here and inspires consumers around the world."