Nike is in a difficult situation. Sales are down, the stock has lost more than a quarter of its value in the past year and the new CEO faces the challenge of reviving the aging sports giant. Now comes unexpected help - Kim Kardashian.
Nike $NKEexecutives announced a collaboration with Kim Kardashian on a new brand called NikeSkims. Inspired by the successful Skims line of shapewear, the collection is set to "revolutionize the global fitness and sportswear market with innovations that serve all female athletes," according to the official press release.
Specific details, including pricing and product looks, have not yet been released. The brand will first launch this spring in select stores and online in the US, with a global launch planned for 2026.
The move is unique for Nike - until now, the company has never created a new brand in collaboration with an outside entity. Rather, it has relied on acquisitions or collaborations with popular athletes such as Michael Jordan.
Nike said that…