Nike seeks brand boost in shoe science for Kipyegon's 4-minute mile bid [Yahoo! Finance]
Nike, Inc. (NKE)
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Source: Yahoo! Finance
running superstar Faith Kipyegon do what no woman ever has: run a mile in under four minutes. Nike said it is helping Kipyegon train, and designing shoes and apparel customized to her body, under an initiative it's dubbed "Breaking4". Kipyegon will try to break the record on June 26, at the Stade Charlety, in Paris. The gambit, sure to turn heads in the running universe, comes as Nike scrambles to reestablish dominance in the sneaker and sportswear industry amid a prolonged slide that hastened the exit of former CEO John Donahoe last year. Partly driving the slump is a dry spell in the kinds of cutting-edge shoes Nike had become known for, incorporating new methods, materials and science to boost performance and attract runners. Rivals like On and Deckers-owned Hoka have steadily stolen market share, and Nike in March forecast a steeper-than-expected drop in fourth-quarter revenue. No surprise, then, that Breaking4 hinges on new shoe designs, aerodynamics, and advanced scans
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