OEM : Apparel
Our mission is what drives us to do everything possible to expand human potential. We do that by creating groundbreaking sport innovations, by making our products more sustainably, by building a creative and diverse global team and by making a positive impact in communities where we live and work.
Nike overhauls ERP in bid for better supply chain speed, agility
Transit times remain at roughly two weeks longer than pre-pandemic levels and aren’t expected to improve significantly through the end of FY 2023, Friend said. As a result, the company is managing inventories to deal with the slower movement of goods, including adjusting product life cycles. “We’re taking some of our styles to seasonless that we can manage it on more of a rolling basis,” Friend said. “And we’ll continue to leverage the experience that we’ve had over the last 2 years, navigating through this environment from a supply chain complexity and congestion perspective.”
NKE earnings call for the period ending December 31, 2021
And last but not least, we continue to set the standard for sustainable product creation. A few weeks ago, we announced the NIKE ISPA Link, a new proprietary platform where shoes are built with interlocking modules and they’re connected without any glue. From a manufacturing standpoint, ISPA link is revolutionary in its simplicity. One pair takes about eight minutes to assemble, a fraction of the time needed for a traditional sneaker.
And it doesn’t require energy-intensive processes like heating, cooling and conveyor belt systems. So with no sacrifice to comfort or stability, the ISPA link will be available at retail in June and we can’t wait for consumers to give it a try. Now let’s move to the marketplace as we align our business to build deeper and more meaningful relationships with consumers. Our marketplace strategy is a growth strategy, and it’s driven by the consumer, fueled by their expectations of a consistent, seamless and premium shopping experience.
Nike just bought a virtual shoe company that makes NFTs and sneakers for the metaverse
Nike just announced the acquisition of RTFKT Studios, which it calls ‘a leading brand that leverages cutting edge innovation to deliver next generation collectibles that merge culture and gaming.’
RTFKT claims that in February 2021, a collaboration with teenage artist FEWOCiOUS to sell real sneakers paired with virtual ones managed to sell some 600 pairs/NFTs in just six minutes, netting over $3.1 million at the time. This was around the same early spring period when most of us were hearing about NFTs for the first time, as Grimes sold some $6 million worth of digital artwork on March 1st. It’s not clear if any of these digital items are worth as much now; looking at OpenSea and Nifty Gateway right now, I see a number of them are either listed for or have recently sold for less than their original prices.