Though Nike has seen rapid growth in apparel sales, shoes still accounted for 61 percent of the company’s $36.4 billion in revenue last fiscal year.
Nike auto-lacing shoes have been around since 2017, when the company sold a limited number of low-top sneakers for $720, the most expensive shoes it ever released. These shoes will be available through Nike’s direct channels, and through retailers, and will debut in the NBA on the feet of Boston Celtics forward Jayson Tatum later this week.
The shoe’s technology can be updated through the app, meaning its capabilities can change after it’s purchased. The Beaverton, Oregon-based company plans to release more products with the Adapt technology, including running shoes, sportswear and lifestyle items.
“The advantages we’re looking to provide the athlete are so substantial that you’ll see a mass of people wanting to make use of those benefits,” Martin said.
This article was provided by Bloomberg News.