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News on Medial
How Adidas Outran Nike With Its $500 ‘Super Shoe’
Livemint
·
1y ago
Medial
Adidas has successfully developed a "super shoe" designed to break world records. Weighing only 138 grams, the shoe is incredibly lightweight. At the recent Berlin Marathon, runners wearing the Adizero Adios Pro Evo 1 achieved exceptional times, with Ethiopia's Tigst Assefa breaking the women's world record by over two minutes. This success comes as a boost for Adidas, who terminated their lucrative Yeezy partnership with Kanye West. Nike, Adidas' rival, is also working on prototype shoes for next year's Paris Olympics. The Pro Evo 1 is in high demand among dedicated runners seeking to improve their personal bests.
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Related News
Made in three minutes, feels like a sock: Are spray-on sneakers the future?
Livemint
·
9m ago
Medial
Swiss sneaker brand On has developed a new shoe-making technology called LightSpray which sprays the upper part of the sneaker onto a foot-shaped mold using a robotic arm, eliminating the need for sourcing and stitching individual fabric pieces. The first commercial sneaker made with this technology is the CloudStrike Boom LS, targeted at runners and priced at $300 per pair. On plans to scale up the LightSpray technology to launch cheaper versions of the running shoe as well as casual sneakers in the coming years. The brand aims to challenge established players like Nike and Adidas by offering innovative and visually distinctive products.
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and-less sneakers to lure price-conscious shoppers
Livemint
·
1y ago
Medial
Nike plans to introduce new sneakers priced at $100 and under in various countries worldwide to stimulate sales. The move comes as the sportswear giant aims to regain momentum and counteract its recent sales decline. Nike has previously increased the list price of its top-end sneakers, including the Air Jordan 1 which retails for up to $200. However, competitors such as Adidas offer similar styles at lower price points. With increasing pressure on discount stores and a need to address price-sensitive consumers, Nike aims to diversify its product lineup by targeting more affordable options.
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Nike’s slow recovery is testing investors’ patience
Livemint
·
1y ago
Medial
Nike's recent performance has been disappointing, with shares dropping 12% following its earnings announcement. Sales have been flat, and the company's slowest growth in 14 years is concerning. Nike's strategy of pulling back popular products to regain pricing power has had a negative impact on digital sales. Additionally, there are concerns about the company's innovation pipeline and competition from Adidas and smaller brands. To turn things around, Nike plans to invest more in advertising and sponsorships. With healthy margins and ample resources, Nike has the potential to bounce back.
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Nike reports Q1 profit of $1.45 billion, beats estimates
Livemint
·
1y ago
Medial
Nike, the world's largest sportswear maker, reported a first-quarter profit of $1.45 billion, beating estimates. Despite missing revenue estimates, the company successfully reduced inventories and forecasted an increase in second-quarter gross margins. Nike plans to focus on running and modern comfort products to capitalize on consumer demand, as well as refresh its basketball shoe portfolio. While North America revenue fell, Nike's share price rose almost 10% in after-market trading.
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The CEO who gave 60,000 employees his cellphone number
Livemint
·
1y ago
Medial
Bjørn Gulden, CEO of Adidas, took over the company when morale was low and transparency was lacking. To reform the company, Gulden volunteered sensitive information, including financial data, and gave his cellphone number to all 60,000 employees. Gulden implemented a turnaround plan that focused on simplifying and accelerating the company's culture, sidelining consultants, and making prompt decisions on new products. His efforts have led to Adidas being on track to return to profitability and outperforming rival Nike in share prices. Gulden's management style, though polarizing, has yielded positive results for the company.
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Changing shopper habits hurt growth: Decathlon
Economic Times
·
1m ago
Medial
French retailer Decathlon has faced challenging revenue growth due to shifting shopper habits, with consumer preference leaning towards leisure and luxury. Despite posting a profit of ₹197 crore over revenues of ₹4,066 crore in 2023-24, growth has slowed to single digits. Decathlon aims to increase its Indian sourcing from 8% to 15% by 2030, mainly targeting footwear, fitness equipment, and technical textiles. The company is also discussing with the government to offer other brands like Nike and Adidas.
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Foot Locker to step into India, inks deals with Metro Brands, Nykaa
Reuters
·
1y ago
Medial
Foot Locker has announced its plans to enter the Indian market in 2024 through a partnership with Metro Brands and Nykaa. Under the agreement, Metro Brands will exclusively operate Foot Locker stores in India, focusing on selling brands like Nike and Adidas. Nykaa Fashion will manage Foot Locker's India website and sell authorized merchandise on its platform. This move comes as Foot Locker seeks to expand its global footprint amidst challenges in its domestic market. Rising affluence and shifting consumer preferences in India make it an attractive destination for foreign brands.
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Amazon's first ever Black Friday sale goes live in India: All you need to know
Livemint
·
9m ago
Medial
Amazon India has launched its first-ever Black Friday sale, offering discounts on top electronics and lifestyle brands. The sale will run from today until December 22. Items on sale include Apple, Sony, Samsung, Nike, Adidas, and Calvin Klein products. Saurabh Srivastava, Vice-President of Categories at Amazon India, expressed excitement about bringing this globally popular shopping event to India for the first time. Some of the top deals include discounts of up to 75% on electronics and up to 65% off on home essentials.
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Culture Circle raises $2 Mn from Info Edge Ventures
Entrackr
·
8m ago
Medial
Culture Circle, a marketplace for sneakers and streetwear, has raised $2 million in its seed round led by Info Edge Ventures, along with participation from angel investors. The proceeds will be used to expand its collection further, strengthen our authentication technology, and continue building the luxury fashion community. Founded in 2023 by Devansh Jain Nawal and Ackshay Jain, Culture Circle is a luxury e-commerce platform boasting a network of over 3,500 sellers and a catalog of 3.5 million listings. The platform specializes in premium products, including sneakers, streetwear, and high-end fashion items such as bags, blazers, backpacks, and cardholders. Culture Circle features offerings from iconic brands like Nike, Yeezy, Dior, Supreme, Common Projects, and Louis Vuitton, among others. Headquartered in Delhi NCR, the startup has recently ventured into six international markets—Qatar, Oman, the UAE, Singapore, the UK, and Thailand—through a pilot program aimed at global expansion. Through its proprietary SourceX platform, Culture Circle enables users to compare prices and access exclusive deals on brands like Nike, Adidas, Jordans, On, Yeezy, Supreme, Balenciaga, and Dior.
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Nike sues New Balance, Skechers for patent infringement
Startup News FYI
·
1y ago
Medial
Nike has filed a lawsuit against New Balance and Skechers for patent infringement related to a technology dispute. The exact details of the technology in question have not been disclosed. Nike claims that the competitors have infringed upon its patents and seeks damages and injunctive relief. New Balance and Skechers have not publicly commented on the lawsuit yet. Patent disputes in the technology industry are common, and it will be interesting to see how this case unfolds.
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