Nike is extending its brand lineup through a rare partnership with Kim Kardashian’s Skims. It’s a bet that her star power can have a similar impact as Michael Jordan has on the sportswear giant — for women.
The two companies announced NikeSkims on Tuesday, a line of training apparel, footwear and accessories for women. While Nike regularly partners with athletes and celebrities for limited-edition sportswear, this seems a step up from that typical collaboration.
It’s the first time Nike has partnered with an existing external company to create a brand. It’s a “win-win” for both companies, Rachel Wolff, retail analyst at Business Insider’s sister company EMARKETER, said.
As Nike pushes ahead with its play for appealing to all genders by upping its bets in female athletes, a deal with a womenswear superpower like Skims will fuel its “gender offense,” as CEO Elliott Hill called it during a recent earnings call. The long-term deal, which neither company revealed the financial details of, marks the beginning of a womenswear-specific brand intended to exist alongside Jordan, Nike, and Converse.
It does, however, call to mind Nike’s biggest partnership yet — with Michael Jordan. In 1984, the popular basketball player inked a deal with Nike for $500,000 a year, plus royalties, Forbes reported. They introduced the world to Air Jordans the following year with the release of the Air Jordan 1 sneaker.
As the sneakers grew in popularity, it extended beyond basketball shoes to include streetwear. Today, Jordan himself has a $3.5 billion net worth, and Nike paid him some $260 million before tax over its past fiscal year, per Forbes.