Nike pins hopes on Olympics to win back market share

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The company will outfit athletes from various countries, including the United States, Canada, China, Kenya, Germany, Uganda, and more, across a range of sports such as basketball and breaking, a new event at the Paris Games.

While high-end shoes like the Alphafly 3 target a niche market, Nike’s broader objective is to increase sales of entry-level and mid-range running shoes. They emphasized their Pegasus shoe range, priced between $130 and $160, during the unveiling.

Nike highlighted its “Air” cushioning technology and knit materials, which contribute to making shoes lighter and more comfortable. Matt Nurse, vice president of Nike’s sport innovation lab, explained that innovations developed for elite athletes ultimately benefit a wider range of consumers, as Nike aims to ensure that its products cater to various body shapes, running speeds, and styles.

Source: Reuters

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