man throwing Nike trainer as a product innovation

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Product innovation takes Nike to record heights

September 26, 2019

Innovation Factory

Considered one of the world’s most innovative companies, Nike has just announced that its shares have hit an all-time high, with product innovation and stronger investment in e-commerce driving sales.

The American sports goods company has topped analysts’ expectations, reporting a revenue of $10.66 billion and a share increase of 5.5% in its first quarter in fiscal 2020.

The latest innovation in its constant stream of new product launches is the Joyride, a cushioning platform for sneakers developed following the company’s best practices and Design Thinking approach to product innovation.

With online sales up 42% during the first quarter and the women’s business growing at a double-digit clip, Nike expects revenue growth for the year to slightly top sales growth in fiscal 2019.

The results come just two years after the brand announced a new Consumer Direct Offense to accelerate innovation and product creation, increasing speed-to-market and engaging directly with consumers, at scale.

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