Morgan Stanley predicts this will be Nike's next billion dollar shoe
Nike
The bank predicts Nike's performance will improve based on new products like the Air VaporMax, favorable fashion trends, and the brand's shortening of its supply chain to bring products to market faster. These factors will lead to 5% growth in the 2018 fiscal year, according to the bank.
The VaporMax is a large part of this according to the analysts, and Morgan Stanley considers it emblematic of the brand's continued strength and ability to create innovations that customers want to buy.
"Our checks suggest Air VaporMax can become Nike's next $1 billion shoe," the note reads.
The VaporMax is Nike's latest Air-based innovation. It strips all the foam and rubber from the sole of the shoe, leaving the plastic airbags that all Nike Air shoes have completely exposed. That skeleton-like sole is then attached to Nike's Flyknit woven upper.
Nike has constrained its supply of the shoe since its launch earlier this year, dribbling out new colors periodically since then. Reviews of the shoe seemed polarized in the sneaker community, which some clamoring for the unique design and others thinking they were too far out there. The sneakers retail for $190.
- CEO says he tried to hire an AI researcher from Meta, and was told to 'come back to me when you have 10,000 H100 GPUs'
- We bought a house in Japan for $30,000. We'll have more land than we could afford in the US, and our kids will be more independent.
- Rumors Prince William is having an affair with Rose Hanbury are flooding social media again after Stephen Colbert waded into 'Katespiracy'
- COVID-19 vaccine can slash risk of post-infection heart failure by half, study finds
- Stock markets close higher in volatile trade ahead of key Fed policy meeting
- 10 Must do activities in Kodaikanal on your next trip
- Harnessing the benefits of weekly fasting: transforming your health inside out
- Citroen to supply 4,000 units of EV e-C3 to BluSmart Mobility in 12 months