By Sabela Ojea
Shares of Nike on Tuesday rose after the sportswear company and Skims announced a partnership to bring to the market a new brand, NikeSKIMS, aimed at female athletes.
The stock was up 4.5% to $76.30 in midday trading, on pace for its largest percentage increase since Sept. 20. Shares have dropped 26% over the past 12 months.
Nike said the long-term deal with Los Angeles-based Skims, co-founded by Chief Executive Jens Grede and Chief Creative Officer Kim Kardashian, comes as it seeks to grow its women's business.
It also comes at a time when Beaverton, Ore.-based Nike is working on a turnaround plan under CEO Elliott Hill that includes tackling heavy discounting over the medium term, and as the company pushes its narrative through strong marketing moves such as its first Super Bowl ad after nearly 30 years on the sidelines.
The first collection of NikeSKIMS will be launched in the U.S. at select retail locations and on Nike's website this spring, Nike said.
A global expansion will follow in 2026, with extension to new markets and retail locations, the companies added.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 18, 2025 12:56 ET (17:56 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。