Nike Unveils Motorized Shoes as CEO Hill Bets on Innovation

Nike’s new products showcase the company’s technological prowess in designing sports gear. From left to right: Project Amplify, Air Milano, Aero-FIT, and Nike Mind shoes. (Courtesy of Nike)

Key Points

• Nike unveiled four products, including robotics-powered running shoes and a temperature-regulating jacket, to showcase innovation.
• The new Mind collection shoes will be available in January, while other products will roll out to professional athletes first.
• Nike’s stock was up 0.3% in Thursday trading.

Nike’s turnaround strategy hinges on convincing consumers—and investors—that the company is at the forefront of innovation in sports apparel.

On Thursday, the company unveiled four products designed to do just that, from robotics-powered running shoes to a temperature-regulating inflatable jacket. Most products will have a phased rollout, starting with professional athletes before they are made available to a broader consumer base.

One line, however—the new Mind collection—will be available for purchase as early as January. The two shoe styles, developed by Nike’s Mind Science Department, have special soles with rounded foam nodes designed to help athletes ground themselves before and after competing.

Nike’s Therma-FIT Air Milano jacket lets athletes regulate their temperate without switching up their layers by inflating or deflating the coat within seconds, offering warmth levels that range from a hoodie to a mid-weight puffer. The jacket will make its debut with Team USA at this year’s Winter Olympics in Milan, Nike said.

The company’s new cooling and sweat-wicking fabric, Aero-FIT, will be launched at the 2026 World Cup. All Nike-sponsored national soccer federations will have garments made with the new technology in their kits, the company said.

The fourth product, Project Amplify, is still in early testing, Nike said, and will launch broadly in the coming years. The company describes Amplify as “the world’s first powered footwear system for running and walking.” It has a motor, a belt, and a battery that integrates with a running shoe that make it easier for people to go a little bit faster and farther. It essentially acts like a second set of calf muscles.

“Akin to how electric bikes have made it easier to ride farther and more frequently, revolutionizing urban commuting, Nike is developing Project Amplify to make slower running, jogging and walking easier and more fun, with a focus on athletes running between a 10- and 12-minute mile pace,” the company said.

Building out Nike’s performance gear is a main priority for CEO Elliott Hill, who took the helm of the company a year ago. Since then, the company has pivoted away from grouping products under men’s, women’s, and kids, and focusing instead on sport-specific categories, such as running, basketball, football, and training.

“This strategic shift enables teams to gain deeper insights into athletes, which in turn informs both product development and brand storytelling,” Nike said.

Thursday’s releases suggest that the athlete-first mentality is indeed helping Nike innovate, which was one of Wall Street’s biggest requests for Hill. A lack of innovation has weighed on Nike’s sales in the postpandemic era, and analysts hope that exciting new items will create demand across product categories.

Early signs suggest the strategy is working, the company said, with performance categories showing “promising growth” helped by product launches such as the latest model of the Vomero running shoe. Nike’s fiscal first-quarter earnings topped Wall Street’s expectations for both top and bottom line, with revenue rising 1% year over year in the quarter.

Nike stock was up 0.3% to $69.30 in mid-morning trading Thursday, while the S&P 500 gained 0.4%. The shares are down 8.4% this year.

Write to Sabrina Escobar at sabrina.escobar@barrons.com