Nike Bets on Kim Kardashian’s Skims to Revive Its Business

Nike has partnered with Kim Kardashian's Skims to launch NikeSkims, a new brand combining Nike's sportswear expertise with Skims' focus on body-positive "athleisure." The FT reports that this move aims to revitalize Nike's performance, which has seen a 20% market cap loss and declining revenues. The collaboration has already boosted Nike's market cap by over $6 billion, signaling a shift towards influencer-driven streetwear. However, Nike still faces challenges in overhauling its consumer and retail operations.