NIKE (NKE) Launches House Of Innovation, Redefines Retailing
Zacks Investment Research | Nov 15, 2018 06:04AM ET
NIKE Inc. (NYSE:NKE) is proceeding with its plan to combine physical and digital together, establishing a better connection between the two. As part of its latest effort to change the definition of retailing and a testament to the fact that brick-and-mortar stores are important even in the growing digital fervor, the company has launched its break-through innovation, “Nike House of Innovation.” This six-level, 68,000 square feet and cross-category premium store will be known as Nike NYC. It is located at 650 Fifth Avenue in New York City.
The dynamic store concept will be as personal and responsive as the digital platform, featuring premium products, experiences and sport innovation. The store will represent NIKE’s reinvented definition of modern retailing and set a new benchmark for NIKE’s retail outlets.
Inspired by the company’s latest concept — Nike Live — and clubbing characteristics of digital commerce, the store’s ground floor will feature the new Nike Speed Shop, which will be an attraction for local customers, having access to on-the-go products and the Nike Sneaker Bar. Additionally, digital shoppers will be able to reserve products online and pick those from the Speed Shop’s digital lockers.
Other innovative features of Nike House of Innovation will include Nike Expert Studio (on the fifth floor), Nike Arena and Nike Sneaker Lab. Apart from this, the store brings some new functionalities linked to the Nike App — including Nike Shop the Look, Nike Instant Checkout and the revamped Nike Scan to Try, which provide elevated digital experience. Additionally, Nike NYC store has dedicated floors for Men, Women, Kids and the footwear-obsessed, providing a clear choice to customers.
Nike Expert Studio is dedicated to provide personalized service exclusively to NikePlus members. Here, customers can book sessions with Nike Expert and Nike by You Studio to create personalized products, providing a revamped shopping experience.
The Nike Arena (at the entrance of the store on the first floor) displays core pieces from Nike’s seasonal collections and sport-inspired storytelling moments from the Brand. It also houses a Customer Service Desk to make their shopping journey easier. A special feature of this segment on the opening day will be the Nike by You Makers Studio, showcasing the store’s exclusive Nike Noise Canceling Collection.
The Nike Sneaker Lab on the fourth floor will feature the largest concentration of seasonally current Nike footwear available across the globe. Not to forget, the store will be powered by the Nike App that released latest features earlier this year to be NikePlus members’ ultimate shopping companion.
The NIKE stock did not react much to the news. However, this Zacks Rank #3 (Hold) stock has surged 20.3% year to date, outpacing the industry ’s rally of 14.7%.
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