Nike's Bold Gamble: Faith Kipyegon's Race to Rekindle Women’s Interest

Nike is channeling its efforts to rekindle the attention of women consumers by backing Kenyan athlete Faith Kipyegon's quest to run a mile in under four minutes. This ambitious endeavor, dubbed "Breaking4," reflects Nike's strategy to elevate its declining market share among female customers.

From 2021 to 2024, Nike's global sports footwear market share has diminished, with increased competition from brands like On and Hoka. Compounded with slow growth in women's products, Nike is doubling down on research oriented toward female athletes' anatomy, aiming to correct its historically male-biased research practices.

Despite new innovations in sportswear, Nike's challenge remains in translating publicity into sales effectively. A pivotal part of the brand's plan under CEO Elliott Hill, alongside novel partnerships with high-profile figures, remains capturing women's interest and reestablishing its credibility.

(With inputs from agencies.)