The stock price of Nike Inc (NKE) has risen by over 1.76% today till the late morning trading session. Over the period of one month, the stock price of Nike has gone down by over 5.5%. The stock closed at $64.66 on Friday.
The Oregon based company is an American multinational corporation that is engaged in the design, development, manufacturing and worldwide marketing and sales of footwear, apparel, equipment, accessories and services.
It is one of the world’s largest suppliers of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$24.1 billion in its fiscal year 2012 (ending May 31, 2012). As of 2012, it employed more than 44,000 people worldwide. In 2014 the brand alone was valued at $19 billion, making it the most valuable brand among sports businesses.
Through the Nike Run Club (NRC) and Nike Training Club (NTC) apps, Nike serves millions of NikePlus members globally with the ability to customize training plans for 5Ks to marathons, 20 audio-guided runs, 160 training workouts and adaptive coaching from some of the world’s best running coaches and trainers. And, with more than 8,500 partners in 50 cities worldwide, fitness app ClassPass offers its members access to local in-person classes, including yoga, cycling, Pilates, barre, running, strength training, dance, conditioning and more.
Nike thought by combining these communities and services, it could give athletes access to the best of both of workout worlds. “ClassPass is grounded in physical wellness and community, which is aligned with Nike’s ethos,” says Eric Wood, Nike’s VP of Digital Partnerships. “We already provide access to sport and fitness through our NTC and NRC apps, and now this partnership will provide access to in-person training experiences to help our NikePlus members reach their performance goals.”
There are a few ways to score ClassPass credits through NikePlus membership, including running miles in the NRC app or completing workouts in the NTC app (for example, anyone who recently completed 15 yoga workouts in the NTC app earned free ClassPass credits) and gearing up via the Nike app with the latest training essentials (recently, the purchase of a sports bra unlocked credits) and more.
“We’re giving NikePlus members class credits to spend in our app however they’d like, hoping they’ll discover a passion for something new, and maybe even push them out of their comfort zone,” says ClassPass CMO Joanna Lord.
“Half the battle of training is psychological. But doing fun things you normally wouldn’t do can combat that by making training feel fresh and interesting,” says Ryan Flaherty, Senior Director of Performance Training at Nike. When you take advantage of the Nike-ClassPass partnership, you’ll have the opportunity to try new classes, which can keep you motivated to work out. Flaherty suggests trying something different each week.
Our analysts have given a “HOLD” rating to Nike’s stock. After the slight fall this week, the current situation looks optimistic. The current holders of this stock are advised not to sell