Nike has announced plans to launch a new fitness brand called NikeSKIMS, in collaboration with reality TV star Kim Kardashian. The partnership aims to attract more women buyers and offer training apparel, footwear, and accessories designed specifically for female athletes.
Kim Kardashian, co-founder and chief creative officer of SKIMS, stated that the goal is to deliver products that cater to every body type. The first NikeSKIMS products are set to hit U.S. stores in the spring.
The move comes as Nike seeks to boost sagging sales, which have struggled since new CEO Elliott Hill took over in October. Despite gains on Tuesday, the stock price has lost nearly a quarter of its value over the past year.
Source: https://www.investopedia.com/nike-stock-climbs-after-it-announces-partnership-with-kim-kardashian-s-skims-11681436