Amazon, Nike Sign Deal To Retail Self-Lacing Shoes

Nike announced in its financial year 2016 fourth quarter earnings report that the footwear company would be selling its shoes directly on retail giant Amazon’s website.

“In the U.S., we’re executing a new pilot with Amazon with a limited Nike product assortment. As we do with all of our partners, we’re looking for ways to improve the Nike consumer experience on Amazon by elevating the way the brand is presented and increasing the quality of product storytelling. We’re in the early stages, but we look forward to evaluating the results of the pilot,” the company stated in its earnings report published Thursday.

Read: ‘Back To The Future’ Sneakers Are Finally Here: Nike’s HyperAdapt 1.0 Launched

Post the announcement, Nike’s stocks surged 7 percent. According to Engadget, the arrangement will help it fight counterfeit. But the words that stand out are “limited product assortment.” It is not clear yet, which products the company wants to retail through the partnership, but since the earnings report included references to HyperAdapt 2.0 — Nike’s self-lacing sneakers — chances are that the company will sell them via Amazon. The company stated in its earnings report that HyperAdapt 2.0 will “deliver new forms of adaptive technology at more accessible price points.”

HyperAdapt 2.0 shoes are expected to be an improvement over the first-generation HyperAdapt shoes, which retailed for $700-$1000. While when it comes to HyperAdapt 1.0 shoes, the user actually has to press a button on the shoes to get it to self-lace; however, the next generation of these shoes might be able to do so automatically.

Another possibility is the HyperAdapt 2.0 shoes are connected to Nike apps such as Nike+ and SNKRS, which provide the user a feedback on walking, running and other activities.

“Our digital products just passed an important milestone in Fiscal 17 – Nike.com and our apps now total more than 2 Billion dollars in revenue. That’s nearly doubled in just the last two years. In fiscal year 2018, both SNKRS and Nike+ are expanding into Europe and Greater China,” the company stated in its earnings report.

According to footwear website Kicks on fire, the second generation self-lacing shoes are expected to be cheaper, more efficient and sleeker.

Nike also stated its SNKRS and Nike+ will now be available in Europe and China.

The company has previously refused to partner with retail companies, instead the company tried to develop its own digital marketplace for its shoes. But with the partnership with Amazon, the company seems to have changed course.

Read: HyperAdapt 1.0 Shoes Price And Release Date

A person familiar with the matter told the Wall Street Journal that the company finally inked the deal to combat counterfeits and unsanctioned sales of its products online. The company says that its venture would “improve the Nike consumer experience.”

Apart from Amazon, the company has had a long-ranging partnership with tech giant Apple…

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