Latest news with #Hoke
Straits Times
2 hours ago
- Business
- Straits Times
With Kipyegon, Nike hopes to break a record - and win back women runners
FILE PHOTO: Nike shoes are seen in the King of Prussia Mall, as global markets brace for a hit to trade and growth caused by U.S. President Donald Trump's decision to impose import tariffs on dozens of countries, in King of Prussia, Pennsylvania, U.S., April 3, 2025. REUTERS/Rachel Wisniewski/File Photo NEW YORK/LONDON - Nike is betting its endeavor to help Kenyan athlete Faith Kipyegon run a mile in under four minutes will recapture the attention of women consumers who have been looking elsewhere for running shoes and clothes. Industry experts and women runners say it will take more than a bold spectacle to draw women back to the brand. Kipyegon's attempt, branded "Breaking4", set for Thursday at the Stade Charléty in Paris, is part of new CEO Elliott Hill's efforts to pull Nike out of a sales slump and improve its image. From 2021 to 2024, Nike's share of the global sports footwear market dropped from 28.8% to 26.3%, according to Euromonitor International, with consumers defecting to smaller, newer brands like On and Hoka. Nike's popularity has slipped with women in particular. Sales of Nike Women products grew just 4.4% over that three-year period, while Nike Men sales grew 13.5%. Nike has been "obsessed with getting women back" since at least 2021, said a former Nike manager who requested anonymity as they were not authorized to speak publicly. Understanding its female consumer base and how to draw in more women has been a key internal priority as Lululemon and others have eaten into its market share among women, the person added. Beaverton, Oregon-based Nike declined to comment on those details. But Chief Innovation Officer John Hoke told Reuters the company is doubling its investment in research on women athletes' anatomy and biodynamics versus 18 months ago. Hoke declined to disclose the amount of that investment, but said in an interview that the company's Sports Research Lab historically "had over-indexed on males, so what we are doing is we're now right-sizing." Kipyegon will wear new track spikes that are lighter than those she wore to win 1,500-meter gold at the Olympics last year, a running suit with 3D-printed beads to minimize friction, and a 3D-printed sports bra Nike says is more breathable than anything on the market. Mindful that track spikes are a niche product, Nike is putting its marketing emphasis on the bra, in development for more than two years, which it expedited for Kipyegon's run, Hoke said. Prototypes have been tested on other Nike athletes, including WNBA star Caitlin Clark, he said, adding that the company plans to market it commercially by 2028. Nike's goal with Breaking4 is to attract the attention of serious runners, says David Swartz, an analyst at Morningstar. But whether and when the publicity will translate to sales is unclear. Nike has launched a line of running shoes and clothes in Kipyegon's name, but the people most likely to buy them may not overlap with Breaking4's target audience. Angelina Monti, a Pittsburgh-based physiologist who, at 23, has already competed in 17 marathons, says she's intrigued by Kipyegon's effort, but isn't likely to base a purchase on it. LESS GROUNDBREAKING The market is more competitive now than in 2017, when Nike held its last unofficial record attempt - Breaking2 - in which athletes Eliud Kipchoge, Lelisa Desisa and Zersenay Tadese attempted to run a marathon in under two hours. None succeeded at the time, but Kipchoge did break two hours in a subsequent 2019 attempt and the hype created around the Vaporfly shoes he wore helped Nike's market share in running climb to a record high. The Vaporfly, first introduced in 2016, included a carbon plate to help runners go faster for longer, and sparked a "super shoe" race among sports brands. Nike's innovations for Kipyegon's attempt seem less groundbreaking, experts say. "The suit seems to be quite unique and envelope-pushing, whereas the footwear just seems to be a better version of what she has run in in the past," said running shoe designer Richard Kuchinsky. Still, "it's nice to see (Nike) invest in a woman, even if this one feels more of a stretch than Breaking2," said Alison Wade, a former college track & field coach and creator of Fast Women, a newsletter dedicated to women's competitive distance running. Nike has announced several initiatives focused on women since Hill took over, including the "After Dark Tour" series of half-marathon and 10-kilometre races in seven cities around the world. But as it tries to regain credibility with women, it starts at a deficit. In April, the company agreed to settle a 2018 lawsuit from female employees alleging widespread workplace discrimination. Nike's partnership with Kim Kardashian-owned Skims drew criticism from some former employees for its emphasis on products to make women "feel strong and sexy." The partnership has yet to launch a product. Any record Kipyegon sets on Thursday would be unofficial, as she will have pacers and won't be in an official competition. Running experts are skeptical Kipyegon can break a four-minute mile, which would require shaving 3.1% off her previous record. "But," Wade said, "maybe Nike has something up its sleeve and it'll turn out we were all wrong." REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Irish Examiner
7 hours ago
- Business
- Irish Examiner
With Faith Kipyegon, Nike hopes to make history, and win back female runners
Nike is betting its endeavor to help Kenyan athlete Faith Kipyegon run a mile in under four minutes will recapture the attention of female consumers who have been looking elsewhere for running shoes and clothes. Industry experts and female runners say it will take more than a bold spectacle to draw women back to the brand. Kipyegon's attempt, branded Breaking4, set for Thursday at the Stade Charléty in Paris, is part of new CEO Elliott Hill's efforts to pull Nike out of a sales slump and improve its image. From 2021 to 2024, Nike's share of the global sports footwear market dropped from 28.8% to 26.3%, according to Euromonitor International, with consumers defecting to smaller, newer brands like On and Hoka. Nike's popularity has slipped with women in particular. Sales of Nike Women products grew just 4.4% over that three-year period, while Nike Men sales grew 13.5%. Nike has been "obsessed with getting women back" since at least 2021, said a former Nike manager who requested anonymity as they were not authorized to speak publicly. Understanding its female consumer base and how to draw in more women has been a key internal priority as Lululemon and others have eaten into its market share among women, the person added. Nike declined to comment on those details. But Chief Innovation Officer John Hoke told Reuters the company is doubling its investment in research on female athletes' anatomy and biodynamics versus 18 months ago. Hoke declined to disclose the amount of that investment, but said in an interview that the company's Sports Research Lab historically "had over-indexed on males, so what we are doing is we're now right-sizing." Kipyegon will wear new track spikes that are lighter than those she wore to win 1500m gold at the Olympics last year, a running suit with 3D-printed beads to minimize friction, and a 3D-printed sports bra Nike says is more breathable than anything on the market. Mindful that track spikes are a niche product, Nike is putting its marketing emphasis on the bra, in development for more than two years, which it expedited for Kipyegon's run, Hoke said. Prototypes have been tested on other Nike athletes, including WNBA star Caitlin Clark, he said, adding that the company plans to market it commercially by 2028. Nike's goal with Breaking4 is to attract the attention of serious runners, says David Swartz, an analyst at Morningstar. But whether and when the publicity will translate to sales is unclear. Nike has launched a line of running shoes and clothes in Kipyegon's name, but the people most likely to buy them may not overlap with Breaking4's target audience. Angelina Monti, a Pittsburgh-based physiologist who, at 23, has already competed in 17 marathons, says she's intrigued by Kipyegon's effort, but isn't likely to base a purchase on it. LESS GROUNDBREAKING The market is more competitive now than in 2017, when Nike held its last unofficial record attempt - Breaking2 - in which athletes Eliud Kipchoge, Lelisa Desisa and Zersenay Tadese attempted to run a marathon in under two hours. None succeeded at the time, but Kipchoge did break two hours in a subsequent 2019 attempt and the hype created around the Vaporfly shoes he wore helped Nike's market share in running climb to a record high. The Vaporfly, first introduced in 2016, included a carbon plate to help runners go faster for longer, and sparked a "super shoe" race among sports brands. Nike's innovations for Kipyegon's attempt seem less groundbreaking, experts say. "The suit seems to be quite unique and envelope-pushing, whereas the footwear just seems to be a better version of what she has run in in the past," said running shoe designer Richard Kuchinsky. Still, "it's nice to see (Nike) invest in a woman, even if this one feels more of a stretch than Breaking2," said Alison Wade, a former college track & field coach and creator of Fast Women, a newsletter dedicated to women's competitive distance running. Nike has announced several initiatives focused on women since Hill took over, including the "After Dark Tour" series of half-marathon and 10-kilometre races in seven cities around the world. But as it tries to regain credibility with women, it starts at a deficit. In April, the company agreed to settle a 2018 lawsuit from female employees alleging widespread workplace discrimination. Nike's partnership with Kim Kardashian-owned Skims drew criticism from some former employees for its emphasis on products to make women "feel strong and sexy." The partnership has yet to launch a product. Any record Kipyegon sets on Thursday would be unofficial, as she will have pacers and won't be in an official competition. Running experts are skeptical Kipyegon can break a four-minute mile, which would require shaving 3.1% off her previous record. "But," Wade said, "maybe Nike has something up its sleeve and it'll turn out we were all wrong." Reuters
The Star
10 hours ago
- Business
- The Star
With Kipyegon, Nike hopes to break a record - and win back women runners
NEW YORK/LONDON (Reuters) -Nike is betting its endeavor to help Kenyan athlete Faith Kipyegon run a mile in under four minutes will recapture the attention of women consumers who have been looking elsewhere for running shoes and clothes. Industry experts and women runners say it will take more than a bold spectacle to draw women back to the brand. Kipyegon's attempt, branded "Breaking4", set for Thursday at the Stade Charléty in Paris, is part of new CEO Elliott Hill's efforts to pull Nike out of a sales slump and improve its image. From 2021 to 2024, Nike's share of the global sports footwear market dropped from 28.8% to 26.3%, according to Euromonitor International, with consumers defecting to smaller, newer brands like On and Hoka. Nike's popularity has slipped with women in particular. Sales of Nike Women products grew just 4.4% over that three-year period, while Nike Men sales grew 13.5%. Nike has been "obsessed with getting women back" since at least 2021, said a former Nike manager who requested anonymity as they were not authorized to speak publicly. Understanding its female consumer base and how to draw in more women has been a key internal priority as Lululemon and others have eaten into its market share among women, the person added. Beaverton, Oregon-based Nike declined to comment on those details. But Chief Innovation Officer John Hoke told Reutersthe company is doubling its investment in research on women athletes' anatomy and biodynamics versus 18 months ago. Hoke declined to disclose the amount of that investment, but said in an interview that the company's Sports Research Lab historically "had over-indexed on males, so what we are doing is we're now right-sizing." Kipyegon will wear new track spikes that are lighter than those she wore to win 1,500-meter gold at the Olympics last year, a running suit with 3D-printed beads to minimize friction, and a 3D-printed sports bra Nike says is more breathable than anything on the market. Mindful that track spikes are a niche product, Nike is putting its marketing emphasis on the bra, in development for more than two years, which it expedited for Kipyegon's run, Hoke said. Prototypes have been tested on other Nike athletes, including WNBA star Caitlin Clark, he said, adding that the company plans to market it commercially by 2028. Nike's goal with Breaking4 is to attract the attention of serious runners, says David Swartz, an analyst at Morningstar. But whether and when the publicity will translate to sales is unclear. Nike has launched a line of running shoes and clothes in Kipyegon's name, but the people most likely to buy them may not overlap with Breaking4's target audience. Angelina Monti, a Pittsburgh-based physiologist who, at 23, has already competed in 17 marathons, says she's intrigued by Kipyegon's effort, but isn't likely to base a purchase on it. LESS GROUNDBREAKING The market is more competitive now than in 2017, when Nike held its last unofficial record attempt - Breaking2 - in which athletes Eliud Kipchoge, Lelisa Desisa and Zersenay Tadese attempted to run a marathon in under two hours. None succeeded at the time, but Kipchoge did break two hours in a subsequent 2019 attempt and the hype created around the Vaporfly shoes he wore helped Nike's market share in running climb to a record high. The Vaporfly, first introduced in 2016, included a carbon plate to help runners go faster for longer, and sparked a "super shoe" race among sports brands. Nike's innovations for Kipyegon's attempt seem less groundbreaking, experts say. "The suit seems to be quite unique and envelope-pushing, whereas the footwear just seems to be a better version of what she has run in in the past," said running shoe designer Richard Kuchinsky. Still, "it's nice to see (Nike) invest in a woman, even if this one feels more of a stretch than Breaking2," said Alison Wade, a former college track & field coach and creator of Fast Women, a newsletter dedicated to women's competitive distance running. Nike has announced several initiatives focused on women since Hill took over, including the "After Dark Tour" series of half-marathon and 10-kilometre races in seven cities around the world. But as it tries to regain credibility with women, it starts at a deficit. In April, the company agreed to settle a 2018 lawsuit from female employees alleging widespread workplace discrimination. Nike's partnership with Kim Kardashian-owned Skims drew criticism from some former employees for its emphasis on products to make women "feel strong and sexy." The partnership has yet to launch a product. Any record Kipyegon sets on Thursday would be unofficial, as she will have pacers and won't be in an official competition. Running experts are skeptical Kipyegon can break a four-minute mile, which would require shaving 3.1% off her previous record. "But," Wade said, "maybe Nike has something up its sleeve and it'll turn out we were all wrong." (Reporting by Helen Reid in London and Nicholas Brown in New York, Editing by Lisa Jucca and Bill Berkrot)
Miami Herald
03-06-2025
- Business
- Miami Herald
Nike's house is not in order and customers are paying the price
In 1978, Nike released the Air Tailwind: the first sneaker to feature the brand's now-iconic Air cushioning technology. The tech was hidden inside the midsole, but it marked the beginning of Nike's most powerful innovation story. Nearly a decade later, the Air Max 1 made the invisible visible. With its exposed Air unit and sleek silhouette, Nike didn't just launch a created a movement that blurred the lines between performance and lifestyle. Related: Nike delivers bad news for customers Since then, Nike (NKE) has claimed the innovation crown. From Flyknit to auto-lacing sneakers, sustainability pushes to space-inspired capsules, the brand knows how to look futuristic. But beyond the buzzwords, how much of it has truly moved the needle? Recent years have been marked less by invention and more by reshuffles and retreats. Earnings have dropped. Strategy has shifted. And now, the man who helped shape Nike's innovative identity for decades is stepping down at the worst possible time. Image source: GingeSwagTia/Shutterstock Chief Innovation Officer John Hoke is retiring after more than 30 years at Nike, according to Retail Dive. Hoke will stay on through October to wrap up projects and support a transition, but his departure marks yet another high-profile exit from a company trying to course correct. Hoke's legacy inside Nike runs deep. He joined the company in 1995 and went on to lead some of Nike's most influential creative and innovation work. His fingerprints are on everything from product design systems to some of Nike's boldest launches. Former colleagues have credited him with helping define Nike's visual language. Related: Nike turns to unexpected brand in desperate bid to win back Gen Z But his exit follows a growing list of shakeups. Just this year, longtime Nike exec Heidi O'Neill stepped down after 26 years. The company also restructured its product and brand leadership under CEO Elliott Hill, who has brought in new leaders to steer the ship. Additionally, Nike just announced that Michael Gonda, a former McDonald's and Chobani executive, will be the new chief communications officer. At this point, if you've lost track of who has left and who has joined Nike, you're not alone - my head is spinning, too. Nike isn't just bleeding talent - it's bleeding trust. Retail partners are still recovering from the years Nike spent chasing direct-to-consumer dominance. Investors are watching a turnaround plan that has yet to prove itself. And the brand's identity, once centered on innovation, feels increasingly unmoored. This past quarter, Nike reported a 9% revenue decline. Executives made it clear they're in damage control mode: cutting promos, clearing inventory through outlets, and repositioning Nike Digital as a full-price channel. But aging franchises and weak apparel continue to drag on momentum. In February, Nike announced a partnership with Kim Kardashian's Skims brand. The first drop was promised for this spring, aimed at boosting appeal in the women's segment. Yet with fewer than 17 days left in the season, time is running out. It was a bold move on paper. But bold branding without timely execution? Not the best look. Meanwhile, recently named Chief Innovation, Design, and Product Officer Phil McCartney is expected to name Hoke's successor, although that appointment has not yet been made. The delay raises even more questions about where Nike's innovation engine is headed next, and whether it still knows how to build greatness from within. For Nike to win again, innovation can't just be part of its story - it has to be the spark that reignites everything. Related: Nike, Adidas face rising threat on the golf course The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Business of Fashion
29-05-2025
- Business
- Business of Fashion
Nike's Longtime Design and Innovation Boss John Hoke to Retire
John Hoke, a longtime top design executive at Nike Inc., is retiring after more than three decades shaping new products at the world's largest sportswear company. Hoke is stepping down as Nike's chief innovation officer, according to an internal memo seen by Bloomberg News. In that role, he'd been charged with speeding up the pace of product development. He'll stay on board through October to finish some projects and Nike plans to name a successor for the position soon, according to the memo. A representative for Nike confirmed Hoke's departure. Hoke didn't immediately respond to a request for comment. The top ranks of Nike's management have shuffled significantly in recent months under CEO Elliott Hill, who came out of retirement last year to try to turn around a sales slump. Footwear executive Phil McCartney was named Nike's new executive vice president and chief innovation, design and product officer this month. Hoke, an architect, started at Nike in 1992 working on stores and fixtures before getting into footwear. He went on to become Nike's chief design officer for 15 years, overseeing more than 1,000 employees globally, before being put in charge of innovation in 2023. Mark Parker, Nike's executive chairman and former CEO, worked closely with Hoke over the years to develop new prototypes and products. Hill told employees in the memo that Hoke had a meaningful effect on Nike's growth throughout his tenure, and that his design influence will be seen at Nike for years to come. He credited Hoke with designing the first Niketown New York and the Serena Williams Building at company headquarters in Beaverton, Oregon. Hoke said in an interview with Bloomberg News last year that his teams had a 'very aggressive agenda' developing a suite of underfoot cushioning technology, including new ways to use Nike's proprietary Air system. By Kim Bhasin and Lily Meier Learn more: Nike to Raise Prices by Next Week, to Return to Selling on Amazon, Media Reports Say The world's biggest sportswear brand is raising prices on several products next week and selling products on e-commerce giant Amazon.
