Latest news with #NikeSkims
The Star
02-05-2025
- Business
- The Star
Shrouded in secrecy: What's up with the Kim Kardashian and Nike fashion team up?
Nike Inc is putting together a dedicated team of executives and designers to operate a new brand with entrepreneur and reality television star Kim Kardashian's apparel label Skims, with plans to release its first collection geared toward women this spring. Called NikeSkims, the project was kept quiet for more than a year until the two companies teased a partnership in February. The vague announcement promised to deliver a new line of "training apparel, footwear and accessories' and pledged to expand the brand globally in 2026. The companies didn't disclose financial terms. Details are now trickling out about the tie-up, which people familiar with the project say goes beyond a traditional fashion collaboration. Instead, they say NikeSkims will operate under Nike as a sub-brand, much like Nike SB, the company's skateboarding business. That means the NikeSkims brand will have its own products, marketing and growth targets and will be run separately from Nike's basketball, running and other sports divisions. Nike's biggest partnership is with basketball superstar Michael Jordan, whose brand has its own management team at Nike and has grown into a nearly US$7bil (approximately RM30.2bil) business. Read more: Now that Nike has turned its back on fashion, will the move pay off? It's all hush-hush Kardashian hinted at the standalone brand structure when she posted a NikeSkims employee badge that indicated she was employee number one. Since then, the project's staff has worked weekends, using codewords and secret meetings to get the new brand ready to debut, one of Nike's executives said. The stakes are high for the world's largest sportswear company, which has struggled to bring fresh products to market in recent years and has failed to win over female customers like rivals Lululemon and Alo Yoga. The NikeSkims collaboration also comes at a critical time for chief executive officer Elliott Hill, who came out of retirement to lead the company last October after his predecessor, John Donahoe, was ousted. Hill has promised to turn around the flailing business, which leaned too heavily on its decades-old lifestyle sneaker franchises and was slow to develop new items. Hill's arrival initially boosted Nike's shares, but Nike stock is down more than 24% so far this year. Nike's secrecy on its Skims project prompted confusion over how the Kardashian-run intimates business fits into Hill's turnaround plan, which emphasises a return to Nike's roots in sports and a focus on athletes over fashion. Hill has said fitness products are a priority. Skims approached Nike with the initial idea and the two parties have been working on the project since October 2023 under Nike's previous CEO, according to a person familiar with the matter who wasn't authorised to speak publicly about the partnership. Hill had jettisoned some of Donahoe's other pet projects such as Rtfkt, Nike's virtual sneaker division. "It really didn't feel very authentic to the brand,' said Gina Clementi, a brand strategist who worked at Nike for 12 years before leaving in 2017. Although she isn't working on the new label, she said she doesn't see how NikeSkims is "built on any sort of athletic achievements'. Representatives for Nike and Skims declined to comment. Kardashian, who raised US$270mil (RM1.2bil) in 2023 to value Skims at US$4bil (RM17.3bil), isn't your typical Nike athlete. But she has been informally connected to Nike for years according to people familiar with the relationship. Kardashian's beauty partnership with Coty Inc ended this year after she bought back the 20% of the company she had sold to the cosmetics giant. Her Nike linkup comes after years of supporting Adidas AG's sneakers by wearing Yeezy products created by her ex-husband – the designer formerly known as Kanye West. A representative for Kardashian declined to comment. Read more: 'Michael Jordan of influencers': Can Kim Kardashian best the activewear market? Job postings In more than two months since Kardashian posted her black and red NikeSkims badge, Hill has let on very little about the brand. He told investors in March only that "we identified a consumer need and are creating a new market of style-led products that sculpts and performs'. In recent weeks, though, Nike has moved employees over to NikeSkims, including at least five executives in marketing and operations. Management selected 14-year Nike veteran Jordan Mills to lead operations at the division, which is hiring more employees in product development, merchandise planning, studio operations and graphic design, according to posted job listings. NikeSkims has two co-general managers from Skims: marketing executive Tracy Romulus and merchandising executive Paula Galperin. Nike's team, led by women's fitness executive Jaclyn Safley, is located at Nike headquarters in Beaverton, Oregon, and in Los Angeles, where Skims is based, according to recent job listings. Safley, Mills, Romulus and Galperin didn't respond to requests for comment. Wall Street analysts say they are waiting to see if NikeSkims can make Nike more competitive in the athleisure market and boost the sportswear company's women's business, which has grown to US$8.6bil (RM37.1bil) in annual sales but is still much smaller than its US$21bil (RM90.6bil) men's business. "Athletic brands have a mixed track record with celebrity partnerships, but NikeSkims seems like a big win for Nike,' Telsey Advisory Group analyst Cristina Fernandez said. "It helps that Skims already has a sizable revenue stream and is a fast growing brand.' – Bloomberg
Fashion Network
29-04-2025
- Business
- Fashion Network
Nike forms new team for secretive brand with Kim Kardashian
Nike Inc. is putting together a dedicated team of executives and designers to operate a new brand with entrepreneur and reality TV star Kim Kardashian 's apparel label Skims, with plans to release its first collection geared toward women this spring. Called NikeSkims, the project was kept quiet for more than a year until the two companies teased a partnership in February. The vague announcement promised to deliver a new line of 'training apparel, footwear and accessories' and pledged to expand the brand globally in 2026. The companies didn't disclose financial terms. Details are now trickling out about the tie-up, which people familiar with the project say goes beyond a traditional fashion collaboration. Instead, they say NikeSkims will operate under Nike as a sub-brand, much like Nike SB, the company's skateboarding business. That means the NikeSkims brand will have its own products, marketing and growth targets and will be run separately from Nike's basketball, running and other sports divisions. Nike's biggest partnership is with basketball superstar Michael Jordan, whose brand has its own management team at Nike and has grown into a nearly $7 billion business. Kardashian hinted at the standalone brand structure when she posted a NikeSkims employee badge that indicated she was employee number one. Since then, the project's staff has worked weekends, using codewords and secret meetings to get the new brand ready to debut, one of Nike's executives said. The stakes are high for the world's largest sportswear company, which has struggled to bring fresh products to market in recent years and has failed to win over female customers like rivals Lululemon and Alo Yoga. The NikeSkims collaboration also comes at a critical time for Chief Executive Officer Elliott Hill, who came out of retirement to lead the company last October after his predecessor, John Donahoe, was ousted. Hill has promised to turn around the flailing business, which leaned too heavily on its decades-old lifestyle sneaker franchises and was slow to develop new items. Hill's arrival initially boosted Nike's shares, but Nike stock is down more than 24% so far this year. Nike's secrecy on its Skims project prompted confusion over how the Kardashian-run intimates business fits into Hill's turnaround plan, which emphasizes a return to Nike's roots in sports and a focus on athletes over fashion. Hill has said fitness products are a priority. Skims approached Nike with the initial idea and the two parties have been working on the project since October 2023 under Nike's previous CEO, according to a person familiar with the matter who wasn't authorized to speak publicly about the partnership. Hill had jettisoned some of Donahoe's other pet projects such as Rtfkt, Nike's virtual sneaker division. 'It really didn't feel very authentic to the brand,' said Gina Clementi, a brand strategist who worked at Nike for 12 years before leaving in 2017. Although she isn't working on the new label, she said she doesn't see how NikeSkims is 'built on any sort of athletic achievements.' Representatives for Nike and Skims declined to comment. Kardashian, who raised $270 million in 2023 to value Skims at $4 billion, isn't your typical Nike athlete. But she has been informally connected to Nike for years according to people familiar with the relationship. Kardashian's beauty partnership with Coty Inc. ended this year after she bought back the 20% of the company she had sold to the cosmetics giant. Her Nike linkup comes after years of supporting Adidas AG's sneakers by wearing Yeezy products created by her ex-husband – the designer formerly known as Kanye West. A representative for Kardashian declined to comment. In more than two months since Kardashian posted her black and red NikeSkims badge, Hill has let on very little about the brand. He told investors in March only that 'we identified a consumer need and are creating a new market of style-led products that sculpts and performs.' In recent weeks, though, Nike has moved employees over to NikeSkims, including at least five executives in marketing and operations. Management selected 14-year Nike veteran Jordan Mills to lead operations at the division, which is hiring more employees in product development, merchandise planning, studio operations and graphic design, according to posted job listings. NikeSkims has two co-general managers from Skims: marketing executive Tracy Romulus and merchandising executive Paula Galperin. Nike's team, led by women's fitness executive Jaclyn Safley, is located at Nike headquarters in Beaverton, Oregon, and in Los Angeles, where Skims is based, according to recent job listings. Safley, Mills, Romulus and Galperin didn't respond to requests for comment. Wall Street analysts say they are waiting to see if NikeSkims can make Nike more competitive in the athleisure market and boost the sportswear company's women's business, which has grown to $8.6 billion in annual sales but is still much smaller than its $21 billion men's business. 'Athletic brands have a mixed track record with celebrity partnerships, but NikeSkims seems like a big win for Nike,' Telsey Advisory Group analyst Cristina Fernández said. 'It helps that Skims already has a sizable revenue stream and is a fast growing brand.'
Business of Fashion
29-04-2025
- Business
- Business of Fashion
Nike Forms New Team for Secretive Brand With Kim Kardashian
Nike Inc. is putting together a dedicated team of executives and designers to operate a new brand with entrepreneur and reality TV star Kim Kardashian's apparel label Skims, with plans to release its first collection geared towards women this spring. Called NikeSkims, the project was kept quiet for more than a year until the two companies teased a partnership in February. The vague announcement promised to deliver a new line of 'training apparel, footwear and accessories' and pledged to expand the brand globally in 2026. The companies didn't disclose financial terms. Details are now trickling out about the tie-up, which people familiar with the project say goes beyond a traditional fashion collaboration. Instead, they say NikeSkims will operate under Nike as a sub-brand, much like Nike SB, the company's skateboarding business. That means the NikeSkims brand will have its own products, marketing and growth targets and will be run separately from Nike's basketball, running and other sports divisions. Nike's biggest partnership is with basketball superstar Michael Jordan, whose brand has its own management team at Nike and has grown into a nearly $7 billion business. Kardashian hinted at the standalone brand structure when she posted a NikeSkims employee badge that indicated she was employee number one. Since then, the project's staff has worked weekends, using codewords and secret meetings to get the new brand ready to debut, one of Nike's executives said. The stakes are high for the world's largest sportswear company, which has struggled to bring fresh products to market in recent years and has failed to win over female customers like rivals Lululemon and Alo Yoga. The NikeSkims collaboration also comes at a critical time for chief executive officer Elliott Hill, who came out of retirement to lead the company last October after his predecessor, John Donahoe, was ousted. Hill has promised to turn around the flailing business, which leaned too heavily on its decades-old lifestyle sneaker franchises and was slow to develop new items. Hill's arrival initially boosted Nike's shares, but Nike stock is down more than 24 percent so far this year. Nike's secrecy on its Skims project prompted confusion over how the Kardashian-run intimates business fits into Hill's turnaround plan, which emphasises a return to Nike's roots in sports and a focus on athletes over fashion. Hill has said fitness products are a priority. Skims approached Nike with the initial idea and the two parties have been working on the project since October 2023 under Nike's previous CEO, according to a person familiar with the matter who wasn't authorised to speak publicly about the partnership. Hill had jettisoned some of Donahoe's other pet projects such as Rtfkt, Nike's virtual sneaker division. 'It really didn't feel very authentic to the brand,' said Gina Clementi, a brand strategist who worked at Nike for 12 years before leaving in 2017. Although she isn't working on the new label, she said she doesn't see how NikeSkims is 'built on any sort of athletic achievements.' When reached for comment, representatives from Nike and Skims referred to a previous statement from Heidi O'Neill, Nike's president of consumer, product and brand, who said the partnership 'unlocks an incredible opportunity to disrupt the industry,' and a statement from Skims CEO Jens Grede, who said the pair are 'poised to create a new standard in the activewear market.' Kardashian, who raised $270 million in 2023 to value Skims at $4 billion, isn't your typical Nike athlete. But she has been informally connected to Nike for years according to people familiar with the relationship. Kardashian's beauty partnership with Coty Inc. ended this year after she bought back the 20 percent of the company she had sold to the cosmetics giant. Her Nike linkup comes after years of supporting Adidas AG's sneakers by wearing Yeezy products created by her ex-husband — the designer formerly known as Kanye West. A representative for Kardashian declined to comment. Job Postings In more than two months since Kardashian posted her black and red NikeSkims badge, Hill has let on very little about the brand. He told investors in March only that 'we identified a consumer need and are creating a new market of style-led products that sculpts and performs.' In recent weeks, though, Nike has moved employees over to NikeSkims, including at least five executives in marketing and operations. Management selected 14-year Nike veteran Jordan Mills to lead operations at the division, which is hiring more employees in product development, merchandise planning, studio operations and graphic design, according to posted job listings. NikeSkims has two co-general managers from Skims: marketing executive Tracy Romulus and merchandising executive Paula Galperin. Nike's team, led by women's fitness executive Jaclyn Safley, is located at Nike headquarters in Beaverton, Oregon, and in Los Angeles, where Skims is based, according to recent job listings. Safley, Mills and Galperin didn't respond to requests for comment. Romulus declined to comment. Wall Street analysts say they are waiting to see if NikeSkims can make Nike more competitive in the athleisure market and boost the sportswear company's women's business, which has grown to $8.6 billion in annual sales but is still much smaller than its $21 billion men's business. 'Athletic brands have a mixed track record with celebrity partnerships, but NikeSkims seems like a big win for Nike,' Telsey Advisory Group analyst Cristina Fernández said. 'It helps that Skims already has a sizeable revenue stream and is a fast-growing brand.' By Kim Bhasin and Lily Meier
Express Tribune
20-02-2025
- Entertainment
- Express Tribune
NikeSkims is the Collaboration That's Set to Redefine Athleisure - All You Need to Know (So far)
When the NikeSkims partnership was announced, it felt like the ultimate fusion of two powerhouse brands. SKIMS, with its transformative shapewear that redefined body confidence, is now teaming up with Nike, the global leader in athletic wear. With both brands having such a strong influence on modern fashion, it's no surprise this collaboration is poised to take the athleisure world by storm. The upcoming collection promises to blend Nike's performance-driven designs with SKIMS' signature style—comfort, confidence, and inclusivity—all rolled into one. SKIMS, led by Kim Kardashian, is more than just a shapewear brand—it's revolutionized how women think about their bodies. Instagram/ @kimkardashian The brand's focus on comfort, inclusivity, and making women feel confident in their own skin has turned it into a must-have for many. Whether you're a shapewear enthusiast or someone who's a bit skeptical of the category, SKIMS has managed to win over a wide audience, including those who might not be the biggest fans of Kim Kardashian herself. Her keen eye for design and relentless pursuit of making women feel empowered with every piece she creates has made SKIMS a household name. Instagram/ @kimkardashian And now, with NikeSkims, the two powerhouses are teaming up to create something even bigger. This collaboration is inspired by women athletes and those who lead active lifestyles. As Heidi O'Neill, President of Consumer, Product, and Brand at Nike, Inc., puts it: 'We're energized by the opportunity to build a new brand and shake things up for the next generation of athletes with NikeSkims.' She continues, 'This partnership brings together the best of both brands and unlocks an incredible opportunity to disrupt the industry with our shared passion and commitment to innovation. We will invite even more athletes into sport and movement with a product that makes them feel strong and sexy.' So, what's in the collection? A range of training apparel, footwear, and accessories designed with both performance and style in mind. The NikeSkims pieces will focus on making women feel confident and supported, whether they're in the gym, at a studio, or on the go. Think of shapewear-meets-sporty leggings, bras with the right support, and pieces that enhance the body's natural form. Oh, and of course, the collection will offer extended sizing, ensuring that women of all shapes and sizes feel included. Kim Kardashian reportedly dove deep into Nike's portfolio, including brands like Jordan, Converse, and ACG, to curate the collection. This partnership could bring us fashion-forward takes on Nike's beloved women's sportswear, possibly even including iconic styles like the Air Max Muse, Air Superfly, and Sabrina 2. Instagram/ @kimkardashian With this partnership, NikeSkims is poised to make waves in the athleisure world and beyond. We can't wait to see how these two powerhouse brands reshape the way we look at both performance wear and comfort.
CNN
18-02-2025
- Business
- CNN
Nike is in a slump. It's hired Kim Kardashian to help
Nike is in a slump. Sales are down, its stock has lost more than a quarter of its value over the past year and its new CEO needs some help turning around the aging athletic company. Enter Kim Kardashian. Nike is partnering with Kardashian for a new brand called 'NikeSkims,' the company and fashion mogul jointly announced Tuesday. The collection, which is based on her popular shapewear line, 'will disrupt the global fitness and activewear industry with best-in-class innovation in service of all women athletes,' according to a press release. Few details were initially made available, including pricing and images. However, the brand will first roll out in the United States this spring online and at 'select retail locations,' with a global launch planned in 2026. The new collection is a first for Nike, which hasn't partnered with an outside company before to create a new brand, rather relying on acquisitions or tapping popular athletes (i.e. Michael Jordan) for apparel. Financial terms of the brand wasn't revealed. Nike said that Skims 'proposed a shared product line,' but suggested 'something even bigger,' thus the creation of NikeSkims. 'More than a partnership, the new brand will set a new standard in the global fitness and activewear industry with an extensive line of training apparel, footwear and accessories,' the press release stated. The new brand will help Nike be more relevant in the activewear category, helping it compete against Lululemon and Alo, which is an area 'where it has been flagging and playing second fiddle,' according to Neil Saunders, retail analyst and managing director at GlobalData Retail. 'In theory, Nike should have all the skills needed to drive its own brand in womenswear, but the reality is it has lost some of its ability to story tell, innovate and wow consumers,' Saunders told CNN. 'Partnering with Skims remedies some of those weaknesses.' Skims has been a major success story for Kardashian with the privately held company valued at a whopping $4 billion as of July 2023. The brand is aimed at everyday wear expanding beyond women with a men's lineup and inking sponsorships with the NBA, WNBA and Team USA for the most recent Olympics in Paris. Meanwhile, Nike faces tough competition from upstart running brands like Hoka and On. Plus, customers are changing their behavior, passing up discretionary purchases of expensive sneakers and athletic clothing for basics and experiences such as concerts and travel. Nike recently changed CEOs to help turn it around. Nike (NKE) reported an 8% drop in sales in its most recent quarter, signaling the company is still struggling. However, shares perked up following the Kardashian news — rising nearly 3% — in early trading. Meanwhile, Lululemon (LULU) shares fell nearly the same amount.
