Nike Uses Secret Lab and Innovation to Fuel Turnaround

Nike's Strategic Shift - Nike is refocusing on athletic performance to reinvigorate growth, particularly after a decline in lifestyle sneaker demand [5][6] - The company emphasizes listening to athletes' voices and using their insights to drive innovation across all price points [3][4][8] - Nike aims to connect its performance-focused innovations with athletes and communicate the story to consumers globally [8][9] Innovation and Research - The LeBron James Innovation Center houses the Nike Sport Research Lab, equipped with over 800 pieces of testing equipment [2] - Nike's innovation process involves gathering data from elite athletes to solve performance problems and translate those solutions to everyday athletes [9][11] - Project Amplify, a footwear system with lightweight motors and rechargeable batteries, represents Nike's future innovation efforts [10] Market and Competition - Nike experienced over 20% sales growth in the running category due to redesigns of key franchises [14] - Converse sales declined 28% in the most recent quarter, indicating a problem area for the company [14] - Nike is addressing competition by leveraging its multi-brand offense, focusing on the unique strengths of Nike, Jordan, and Converse [15][16] Brand Vision - Nike's brand vision is to honor its roots, obsess over serving athletes, and exceed their expectations [19] - The company innovates not only in product but also in storytelling and delivering experiences in the marketplace [17] - Nike aims to innovate by listening to athletes and connecting with the world of sport and sport culture [18]