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Nike has lost market share with females
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Kipyegon's run unlikely to have immediate company impact, say professionals
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Nike to commercialize breathable new sports bra by 2028
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By P. Brown and Helen Reid
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NEW YORK/LONDON, June 25 (Reuters) - Nike is wagering its undertaking to assist Kenyan athlete Faith Kipyegon run a mile in under 4 minutes will recapture the attention of females consumers who have been looking in other places for running shoes and clothing.
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Industry professionals and women runners state it will take more than a bold spectacle to draw females back to the brand name.
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Kipyegon's attempt, branded "Breaking4", set for Thursday at the Stade Charléty in Paris, becomes part of brand-new CEO Elliott Hill's efforts to pull Nike out of a sales depression and improve its image.
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From 2021 to 2024, Nike's share of the international [sports betting](https://www.bet9japromotioncode.com.ng/winners/court-orders-bet9ja-owner-to-pay-employees-jackpot-balance/) footwear market dropped from 28.8% to 26.3%, according to Euromonitor International, with consumers defecting to smaller, more recent brand names like On and Hoka.
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Nike's popularity has actually slipped with females in particular. Sales of Nike Women items grew simply 4.4% over that three-year period, while Nike Men sales grew 13.5%.
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Nike has actually been "consumed with getting females back" given that at least 2021, stated a previous Nike manager who asked for privacy as they were not authorized to speak openly.
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Understanding its female customer base and how to attract more females has actually been a crucial internal priority as Lululemon and others have eaten into its market share amongst women, the person included.
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Beaverton, Oregon-based Nike declined to talk about those information. But Chief Innovation Officer John Hoke told Reuters the company is doubling its financial investment in research on ladies professional athletes' anatomy and biodynamics versus 18 months back.
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Hoke declined to disclose the quantity of that investment, however stated in an interview that the company's [sports betting](https://www.bet9japromotioncode.com.ng/bet9ja/bet9ja-guide/) Research Lab historically "had over-indexed on males, so what we are doing is we're now right-sizing."
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Kipyegon will wear new track spikes that are lighter than those she used to win 1,500-meter gold at the Olympics in 2015, a running match with 3D-printed beads to minimize friction, and a 3D-printed [sports betting](https://www.bet9japromotioncode.com.ng/promotions/bet9ja-promotion-code-is-yohaig/) bra Nike states is more breathable than anything on the marketplace.
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Mindful that track spikes are a niche item, Nike is putting its marketing emphasis on the bra, in advancement for more than 2 years, which it sped up for Kipyegon's run, Hoke said.
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Prototypes have been evaluated on other Nike athletes, consisting of WNBA star Caitlin Clark, he stated, adding that the business plans to market it commercially by 2028.
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Nike's goal with Breaking4 is to draw in the attention of serious runners, says David Swartz, an analyst at Morningstar. But whether and when the promotion will translate to sales is uncertain.
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Nike has introduced a line of running shoes and clothes in Kipyegon's name, but individuals probably to purchase them may not overlap with Breaking4's target market.
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Angelina Monti, a Pittsburgh-based physiologist who, at 23, has already completed in 17 marathons, states she's fascinated by Kipyegon's effort, but isn't most likely to base a purchase on it.
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LESS GROUNDBREAKING
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The marketplace is more competitive now than in 2017, when Nike held its last informal record attempt - Breaking2 - in which professional athletes Eliud Kipchoge, Lelisa Desisa and Zersenay Tadese tried to run a marathon in under two hours.
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None was successful at the time, however Kipchoge did break two hours in a subsequent 2019 attempt and the hype created around the Vaporfly shoes he used helped Nike's market share in running climb to a record high.
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The Vaporfly, initially introduced in 2016, consisted of a carbon plate to assist runners go quicker for longer, and sparked a "super shoe" race among sports brands. Nike's developments for Kipyegon's attempt seem less groundbreaking, specialists say.
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"The match appears to be quite unique and envelope-pushing, whereas the footwear simply seems to be a much better variation of what she has run in in the past," stated running shoe designer Richard Kuchinsky.
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Still, "it's great to see (Nike) purchase a woman, even if this one feels more of a stretch than Breaking2," said Alison Wade, a previous college track & field coach and creator of Fast Women, a newsletter devoted to females's competitive distance running.
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Nike has revealed a number of initiatives focused on females because Hill took over, including the "After Dark Tour" series of half-marathon and 10-kilometre races in seven cities worldwide.
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But as it tries to gain back credibility with ladies, it begins at a deficit.
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In April, the business accepted settle a 2018 claim from female workers alleging extensive office discrimination.
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Nike's partnership with Kim Kardashian-owned Skims drew criticism from some former staff members for its focus on items to make women "feel strong and sexy." The collaboration has yet to introduce a product.
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Any record Kipyegon sets on Thursday would be unofficial, as she will have pacers and will not be in a main competitors. Running experts are hesitant Kipyegon can break a four-minute mile, which would need shaving 3.1% off her previous record.
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"But," Wade stated, "possibly Nike has something up its sleeve and it'll turn out we were all wrong."
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(Reporting by Helen Reid in London and Nicholas Brown in New York, Editing by Lisa Jucca and Bill Berkrot)
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