At a time when its knack for innovation is in question, Nike (NKE.N) on Wednesday announced a project to help Kenyan running superstar Faith Kipyegon do what no woman ever has: run a mile in under four minutes.
Nike said it is helping Kipyegon train, and designing shoes and apparel customized to her body, under an initiative it's dubbed "Breaking4". Kipyegon will try to break the record on June 26, at the Stade Charlety, in Paris.
The gambit, sure to turn heads in the running universe, comes as Nike scrambles to reestablish dominance in the sneaker and sportswear industry amid a prolonged slide that hastened the exit of former CEO John Donahoe last year.
Partly driving the slump is a dry spell in the kinds of cutting-edge shoes Nike had become known for, incorporating new methods, materials and science to boost performance and attract runners.
Rivals like On and Deckers-owned Hoka (DECK.N) have steadily stolen market share, and Nike in March forecast a steeper-than-expected drop in fourth-quarter revenue.
No surprise, then, that Breaking4 hinges on new shoe designs, aerodynamics, and advanced scans of Kipyegon's feet and body.
"Nike has been criticized for not having enough innovative products," said Morningstar analyst David Swartz, so if it can deploy technology in a way that helps set a record, "it would certainly attract a lot of attention."
The current women's one-mile record, just under 4:08, was set by Kipyegon herself, in 2023. To shave eight seconds off a run in just two years is a tall task, and success isn't guaranteed.
In a similar 2016 initiative called Breaking2, Nike worked with three runners to break the two-hour marathon, but none did. Kenyan runner Eliud Kipchoge got closest at 2:00:25, but his run wasn’t recognized as a record because he was assisted by teams of pace-setters.
Breaking2 is remembered for Nike’s introduction of the Vaporfly, a controversial carbon-plated sneaker that retails for around $250 and has been shown to improve performance - but is viewed by some as technological doping. The company has so far declined to offer specifics on innovations planned for Kipyegon.
Initiatives like this are "good publicity" regardless of outcome, Swartz said, especially after new CEO Elliott Hill, and other company leaders, vowed to refocus the brand’s identity around core sports like running.
At the same time, the sportswear industry is more crowded than it was a few years ago, and "if this campaign does well, it won’t necessarily mean every runner will suddenly be wearing [Kipyegon’s] shoes,” said Jessica Ramirez, co-founder of retail advisory firm The Consumer Collective.
It's a significant moment for the three-time Olympic Gold medalist Kipyegon, 31, a native of Kenya’s Rift Valley province. Kipyegon has condemned a rash of gender-based murders of Kenyan women, including high-profile athletes like runner Agnes Tirop.
Mother to a daughter, Kipyegon said in a statement on Wednesday she’s running “to say to women, ‘You can dream and make your dreams valid.’”
Breaking4 could also appeal to key regions of Nike consumers. For example, running has grown increasingly popular in China, where Nike sales fell 17% last quarter, worrying investors.
