- Nike plans to launch new running shoes this year.
- In 2024, Nike trailed competitors like Asics and Adidas in running shoe launches.
- BMO analysts remain optimistic about Nike’s 2025 lineup despite past performance challenges.
Nike’s shoe competitors were on a tear in 2024, so expectations are high for the sportswear giant this year.
Most footwear brands launched six or more shoes in 2024, according to data from BMO. Asics, Adidas, Brooks Running, and Hoka led the way in running shoe launches in 2024, but Nike had fewer than six.
As part of its moves to improve sales, Nike is getting back to basics. That includes redefining itself as a “running brand.” To keep up with the competition, it will have to prove that in 2025.
Asics launched new models or updated existing performance running models 11 times last year, while Adidas and Brooks launched or updated 10 and nine models, respectively, according to BMO. Nike only updated its current running shoe lineup and released no new models.
Nike said it will launch the Pegasus Premium in late January and the Vomero 18 on February 25. The Vomero Plus, Premium, and the new Structure model will come “later in 2025.”
With this running lineup, retail analysts at BMO say its launch schedule in 2025 “looks more promising.” Its new product line received a positive response from consumers and industry watchers when it was announced at The Running Event, a trade show held in November,
“We believe NKE’s inflection is a question of ‘When’ compelling product begins to roll in rather than ‘If,'” BMO analysts wrote.
Brands like On Running and Hoka have been growing in popularity over the past few years. Brooks’ Q2 2024 North American sales grew 19%, a quarterly record for the brand, according to data it collected from research firm Circana.
Nike brought veteran employee Elliott Hill out of retirement to take over as CEO in October, and he has his work cut out for him. Revenue for the Nike brand only grew 1% last year, with the key North America region providing a drag.
However, the company has acknowledged that it will take time to see its desired results.
“A comeback at this scale takes time, but we see early wins — from momentum in key sports to accelerating our pace of newness and innovation,” Matthew Friend, executive vice president and CFO, said during the Q1 earnings call.
Read the full article here
