👉 Background: Nike is the sportswear brand that was founded back in 1964 as Blue Ribbon Sports and has grown to become the recognisable sportswear brand in the world with its iconic swoosh. But the swoosh has been in struggle street lately. Nike's sales dropped 8% in the past quarter and its shares have lost 25% over the past year after struggling to retain market share.

👉 What happened: Nike has announced a new partnership with Kim Kardashian's Skims brand, with a very original name, “NikeSkims”. The new collection will target women with activewear, footwear and accessories.

👉 What else: This partnership has a very clear goal - help Nike compete against brands like Lululemon and Alo in the activewear space. Interestingly, this is Nike’s first partnership with an outside company to create a new brand - as opposed to an acquisition or partnering with athletes like Michael Jordan.

What's the key learning?

💡Strategic partnerships can be the cheat code to a brand’s revitalisation. Nike’s no stranger to innovation— it’s mastered the art of staying relevant. It started specialising in sports, but it’s now part of music, fashion, and street culture.

💡Lately, Nike has been losing market share across the board. Its sportswear has lost market share to On and Hoka while its activewear division is struggling to make a dent. The activewear market was worth around $412 billion USD in 2024 and growing at nearly 6% per year.

💡By partnering with Kim Kardashian, Nike’s not just selling leggings... they’re buying influence, cultural capital, and access to her 358 million Instagram followers.