Post by The Big Daddy C-Master on Mar 18, 2016 5:10:52 GMT -5
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Help is at hand for kids (and adults) who are struggling to get their laces together.
At an event in New York yesterday, shoeware manufacturer Nike Inc. yesterday unveiled self-lacing shoes that tighten when a wearer's heel strikes the shoe's sensors. Called HyperAdapt 1.0, the shoes use an "underfoot lacing mechanism" (that is, electric motors) and sensors to figure out the optimal fit. They can be further tightened or loosened by using special buttons that automatically readjust the shoe's fit. According to Nike, the HyperAdapt 1.0 needs to be recharged every couple of weeks for three hours. The company did not reveal pricing for the shoes, which are are expected to go on sale this fall in a limited edition.
In a press release, the company said that the shoe challenged traditional understandings of fit, "proposing an ultimate solution to individual idiosyncrasies in lacing and tension preference.” In an interview, Nike designer Tinker Hatfield laid out a business rationale for the shoes. According to Hatfield, the shoes are a platform to help "envision a world in which product changes as the athlete changes. "It is amazing to consider a shoe that senses what the body needs in real-time," he said. "That eliminates a multitude of distractions, including mental attrition, and thus truly benefits performance.” (See also: The Economics Behind Sneakers.)
Nike's stock has been on a roll in recent years, rising by 24.6% in the last year alone. The company has achieved a dominant position in the US footwear market. Athletic footwear is an especially lucrative market for Nike. It sold $340 million worth of LeBron James sneaker shoes in 2014.
Investors should expect more futuristic products from the Beaverton-based company. It signed an agreement with Flextronics, a contract manufacturer that is famous for its expertise in working with electronics and medical devices, last October. It is also investing in a 125,000 square-foot Nike Advanced Product Creation Center at its headquarters to test new technologies, such as 3D printing.
The Bottom Line
Nike's new self-lacing shoes are probably the start of the next generation of products from the company. While its current product portfolio will continue to be major contributors to Nike's bottom line, the new set of products provide an inkling of the company's thought processes regarding its future product pipeline.
Help is at hand for kids (and adults) who are struggling to get their laces together.
At an event in New York yesterday, shoeware manufacturer Nike Inc. yesterday unveiled self-lacing shoes that tighten when a wearer's heel strikes the shoe's sensors. Called HyperAdapt 1.0, the shoes use an "underfoot lacing mechanism" (that is, electric motors) and sensors to figure out the optimal fit. They can be further tightened or loosened by using special buttons that automatically readjust the shoe's fit. According to Nike, the HyperAdapt 1.0 needs to be recharged every couple of weeks for three hours. The company did not reveal pricing for the shoes, which are are expected to go on sale this fall in a limited edition.
In a press release, the company said that the shoe challenged traditional understandings of fit, "proposing an ultimate solution to individual idiosyncrasies in lacing and tension preference.” In an interview, Nike designer Tinker Hatfield laid out a business rationale for the shoes. According to Hatfield, the shoes are a platform to help "envision a world in which product changes as the athlete changes. "It is amazing to consider a shoe that senses what the body needs in real-time," he said. "That eliminates a multitude of distractions, including mental attrition, and thus truly benefits performance.” (See also: The Economics Behind Sneakers.)
Nike's stock has been on a roll in recent years, rising by 24.6% in the last year alone. The company has achieved a dominant position in the US footwear market. Athletic footwear is an especially lucrative market for Nike. It sold $340 million worth of LeBron James sneaker shoes in 2014.
Investors should expect more futuristic products from the Beaverton-based company. It signed an agreement with Flextronics, a contract manufacturer that is famous for its expertise in working with electronics and medical devices, last October. It is also investing in a 125,000 square-foot Nike Advanced Product Creation Center at its headquarters to test new technologies, such as 3D printing.
The Bottom Line
Nike's new self-lacing shoes are probably the start of the next generation of products from the company. While its current product portfolio will continue to be major contributors to Nike's bottom line, the new set of products provide an inkling of the company's thought processes regarding its future product pipeline.
