new store formula for women
Nike targets women: the shoe manufacturer wants to double down on female “sneakerheads”, fans of sports shoes, hoping to nearly double its turnover with women by 2020.
(Author : Pauline Neerman)
Target: 11 billion dollars in turnover for women’s items
Sneaker brand Nike aims to sell 11 billion dollars’ worth (9 billion euro) of its women-focused products by 2020: that is nearly double of what it sells now (6.6 billion dollar – 5 billion euro). The women’s division is growing at a faster pace than the overall market, which has prompted Nike to create more exclusive products and launch a female-focused store formula.
The market for women’s sporting shoes grew 5 % in 2017, considerably more than the 2 % growth for the overall sporting shoes industry. Competitors like Adidas and Zappos already tapped into that trend, with exclusive collections and collaborations with female designers and celebrities as a result.
Unlaced retail formula for female 'sneakerheads'
Nike wants to ride the wave with its own retail formula for female sneaker fans. That is why it introduced the Unlaced formula during the Paris Fashion Week, which will bring the sneakerhead formula to women, whereas it was previously a male-focused genre. Ladies will be able to witness new styles, a wide product variety and the option to personalize their shoes.
Unlaced will launch online on 27 March, but will also open shop-in-shops in the summer. These will be constructed as a circular location filled with shoes, arranged by colour and trend. The focal point will be a swiveling, Instagram-worthy, chair at the center, which can turn to anything, from sturdy sporting shoes to pink trendy sneakers.
“We are sold on the idea to give women access to their favourite sneakers and the best of what Nike has to offer”, vice-chairman and NikeWomen’s creative director, Julie Igarashi, said. Other initiatives that have to lure in more women have resulted in several new things: a specialized sports bra, a wider range of larger sizes and the award-winning Nike Pro Hijab for the professional Muslim athlete.