When a sneaker company makes a sneak: What happens next?
The Nike CEO says his sneaker collection will be available for purchase online and at select retailers in the coming months.
A few months ago, Nike launched a sneaked-in-the-shoe campaign called “Sneakers for All.”
It’s an online shopping event where customers can get a $50 discount on any sneaker or apparel item sold.
The company also launched a smartphone app for iOS and Android that allows customers to purchase products on demand.
The sneaker campaign was one of the first of its kind and has helped drive sales for Nike in the past.
Nike’s shares rose nearly 12 percent in premarket trading Wednesday.
The stock closed Wednesday at $2.99 a share.
Sneaker sales are a relatively small portion of Nike’s business, but the company has a large presence in the retail industry.
In August, the company released a new model of its sneaker called the “Slim Fit.”
The shoe is designed to fit snugly but still give the wearer some lift and support.
Nike’s stock is up about 20 percent this year and the company’s net income is $9.8 billion.