Nike reported a Q1 profits increase of 15 percent to $1.1 billion yesterday, and also revealed the sneakers that helped them hit that mark.
Nike chairman, president and CEO Mark Parker led the winning sneaker conversation with a pair of Air looks: the VaporMax and the Air Max 270. The exec also named shoes boasting its new acclaimed React cushioning as models resonating with consumers.
“Our innovation platforms are building a foundation for growth over many years,” Parker said in a conference call yesterday. “As the taste of our consumers shift faster, strong platforms allow us to continually bring fresh products to market while extending our storytelling and investments. … Consumers are drawn to their comfort and performance, and they’re asking for more style options.”
The exec also applauded his brand’s ability to have React, a performance innovation, crossover to casual styles and win over the lifestyle-minded consumer — specifically with the React Element 87.
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“The React Element 87 is considered one of the industry’s top new designs, and we’ve applied the comfort of React cushioning to more performance and lifestyle shoes at several price points,” Parker said.
On the performance side of the business, the brand’s leader stated the ZoomX and Pegasus Turbo releases were a hit with runners, and applauded the strides it has made with its Flyknit tech — specifically on the upcoming signature basketball sneakers for Kevin Durant (KD 11) and LeBron James (LeBron 16). The latter boasts the latest iteration of the innovation, Battle Knit 2.0.
On the call, Nike executive VP & CFO Andrew Campion, said the VaporMax, Air Max 270, React and ZoomX, has “already generated in aggregate over $2 billion in revenue at retail.”
Also on the material side, Parker said its sustainable Flyleather was a hit, a component that uses at least 50 percent reclaimed leather and reduces waste, which was rolled out on classic styles including the Air Force 1, the Cortez and Air Max 95.
Nike also had success, according to Parker, when it paired sport and style, specifically with the collaboration between tennis icon Serena Williams and designer Virgil Abloh, Converse‘s limited-edition collabs on the Chuck Taylor and One Star silhouettes, and the Jordan Brand soccer kit with Paris Saint-Germain F.C.
Looking forward, Parker stated Nike would now employ digitally powered adjustable footwear to professional sports in 2019, bringing in tech similar to what was featured in the auto-lacing HyperAdapt, which will be offered in greater quantities and at prices that are more affordable.
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