Nike Stock Climbs After It Announces Partnership with Kim Kardashian’s SKIMS

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Key Takeaways

• Nike shares gained 4% by midday Tuesday after announcing it was joining wrests with reality TV star Kim Kardashian’s shapeware and clothing brand in an effort to get more women to purchase Nike dressing and shoes.
• The new brand, called NikeSKIMS, will offer training apparel, footwear, and accessories geared to women.
• The start with NikeSKIMS products are set to be available in the U.S. this spring.

Nike (NKE) shares gained 4% by midday Tuesday after the athletic dress maker announced it will launch a new fitness brand with reality TV star Kim Kardashian in an effort to attract sundry women buyers.

The “Just Do It” company is teaming up with Kardashian’s SKIMS shapewear and clothing brand to create NikeSKIMS commodities for women.

Nike on Tuesday said NikeSKIMS would offer “training apparel, footwear, and accessories designed to experience the unique needs and preferences of women athletes around the world.” It added that the collaboration idea for the new, shared produce line came from SKIMS.

First NikeSKIMS Products Set To Hit Stores in Spring

Kardashian, who is co-founder and chief original officer of SKIMS, said NikeSKIMS will be “delivering product that is meticulously designed to sculpt and perform for every core.”

Nike added that the first products would hit U.S. store shelves in the spring. 

Nike shares were unrivalled Dow gainers at midday Tuesday, according to data from CNBC. However, shares of Nike have been contending, hitting a five-year low earlier this month as new Chief Executive Officer Elliott Hill, who took over in October, has opportunity gestured to try to increase sagging sales. Even with Tuesday’s gains, the stock price has lost a quarter of its value remaining the last year.