Skip to main content

Nike Makes End-Run Around Retailers By Selling $720 Self-Tying Sneakers Itself

By

If you’re looking for Nike sneakers with self-tying laces, don’t go to FootLocker or Dick’s Sporting Goods: In an attempt to move away from relying on sports retailers to peddle its wares, Nike is cutting out the middleman and selling its new, pricey HyperAdapt shoes directly to consumers.

Let’s hope Marty McFly has been saving his pennies since 1984, because Nike’s new sneakers are far from cheap at $720 a pair, and you can only find them on the brand’s Nike+ app and at its new retail store in New York City, starting today.

The company is hoping to move away from the wholesale model and get consumers used to going directly to the source when shopping: Nike wants to double direct sales to consumers to $16 billion by 2020, The Wall Street Journal reports, in order to stay competitive with rivals like Adidas and Under Armour.

That’s something the sporting goods retail industry will definitely notice, analysts say, as Nike is the single-largest vendor to Dick’s Sporting Goods, Foot Locker, and Finish Line.

“They have to be worried about it,” John Kernan, senior retail analyst for brokerage Cowen & Co. told the WSJ.

Nike’s push into direct-to-consumer sales isn’t a sudden shift, it comes after a decade of work to expand its technology and consumer services. To that end, the company’s digital sport team has spent about $100 million on software products, including the Nike+ app, in the last four years, the WSJ notes.

Will its investments pay off? Will anyone actually want to pay $720 simply to cut out the task of tying one’s own shoes? That remains to be seen.


by Mary Beth Quirk via Consumerist

Comments

Post a Comment

Popular posts from this blog

Chrysler Deletes Its Dating Apps, Decides To Remain Single For Now

By
They say you can’t have a healthy relationship until you’re happy with yourself. That appears to be the new mantra for Fiat Chrysler: After several attempts to woo General Motors and more recently Volkswagen , the carmaker’s top executive says he plans to ditch his lovelorn ways to concentrate on his company’s bottom line.  Bloomberg reports that CEO Sergio Marchionne has turned his focus to eliminating FCA’s debt rather than eliminating its single status. Marchionne has set a goal of erasing FCA’s debt by 2019, the same year he’s set to retire. To do that, he says the company needs to do a little work on itself. “We need to be very careful that we don’t start unrealistic dreams about consolidation as we are on our way to achieve historically important results and a debt-free position,” Marchionne told investors at the carmaker’s annual meeting in Amsterdam, as reported by Bloomberg. “We are not at a point of time to discuss any alliance.” Yes, you heard that right: The man w...
Post a Comment
Read more

Study Claims 43% Of “Wild” Salmon In Stores & Restaurants Isn’t Wild At All

By
That wild salmon entrée calling to you from the menu at dinner might not be all it’s advertised. In fact a new study released Wednesday found evidence of mislabeling in nearly half of all salmon sold in restaurants and grocery stores.  The study [ PDF ] from international environmental advocacy group, Oceana, analyzed 82 salmon samples from restaurants and grocery stores, finding that 43% of the products were mislabeled. DNA testing confirmed that 69% of the mislabeled product consisted of farmed Atlantic salmon being sold as wild-caught product. According to the report, consumers satisfying their salmon craving in restaurants are misled about 67% of the time, while those who buy their seafood in a grocery store are misled 20% of the time. “Americans might love salmon, but as our study reveals, they may be falling victim to a bait and switch,” Beth Lowell, senior campaign director at Oceana, said . “When consumers opt for wild-caught U.S. salmon, they don’t expect to get a far...
Post a Comment
Read more

Introduction to Biology (IX Biology Notes Chapter 01)

By
Science: Our universe operates under certain principles. For understanding of these principles, the experiments are done and observations are made; on the basis of which logical conclusions are drawn. Such a study is called "Science". In brief science is the knowledge based on experiments and observations. Biology: The Scientific study of living organisms is called Biology. The word biology is derived from two Greek words "bios" meaning life and "logos" meaning thought, discourse, reasoning or study. It means that all aspects of life and every type of living organism are discussed in biology. Branches of Biology: Biology is divided into following branches: Morphology The study of form and structure of living organisms is called morphology. It can be further divided into following two parts: 1. The study of external parts of living organism is called external morphology. 2. The study of internal parts of living organism is calle...
Post a Comment
Read more