Nike sees the opportunity to grab a greater share of the women's athletic apparel and sneaker market, something it hasn't focused on as much in the past.
Nike is making a bigger, bolder investment in women. And it's using sports as one way to get to them.
She went on to discuss some of the investments Nike is making now to try to dispute the idea that sports aren't as much for women as they are for men. That includes an outreach program the retailer is introducing where it sends athletes, as mentors, out to junior high and middle schools to talk to young girls about how to take their participation in sports to the next level. It's all about,"How do we help the next [generation] come up and learn the power of sport?" she said.
In the video with Williams, which quickly went viral when it was debuted during the Oscars, the tennis champion says:"If we show emotion, we're called dramatic. If we want to play against men, we're nuts. And if we dream of equal opportunity, delusional. When we stand for something, we're unhinged. When we're too good, there's something wrong with us. And if we get angry, we're hysterical, irrational, or just being crazy. ...
The retail giant, bringing in $36.4 billion in sales in 2018, holds 18.3 percent of the overall sportswear market in the U.S., which includes apparel and footwear, according to data compiled by Euromonitor. German rival Adidas is second with 6 percent, Under Armour with 4.1 percent, Skechers with 2.6 percent and leggings-maker Lululemon with 1.9 percent as of the end of 2018, according to the firm.
This"editing and shifting" Parker talks about will mean Nike is treading a lot more closely along Lululemon's turf, which is already well-established with female shoppers as a destination for its yoga pants and sports bras. Under Armour has, meanwhile, said it plans to invest more in women's apparel and accessories, seeing some of the same growth opportunities as Nike.
Just within the sports bra category, there's a huge opportunity for companies — like Nike — to capitalize on a white space in the market, analysts say. That's why Nike is making bigger bets there now, adding more high-impact bras that fit women of all different shapes and sizes."We see market share up for grabs given the increasing fragmentation of the intimates space," especially with Victoria's Secret struggling, Jefferies analyst Randy Konik said.
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