Yesterday, Nike released its fiscal 2020 Q3 earnings report. In it, the sportswear giant addresses the current coronavirus crisis and revealed its biggest release to date was the Air Jordan 11 "Bred."
Nike COO Andy Campion shared that the "launch of the Air Jordan 11 'Bred' was the largest in Nike’s history, with the product selling out in 28 minutes powered by the SNKRS app." The coveted sneaker was last year’s holiday Jordan Brand release, which is historically one of the brand’s biggest drops of the year. The Air Jordan 11 "Space Jam," and "Concord," set the benchmark in prior years.
While Nike didn't disclose exact numbers, over one million pairs of the Nike Air Jordan 11 “Bred” were rumored to have been produced, making the sell-out time even more impressive.
Concerning the ongoing pandemic, Nike spoke of the brand's shift from its retail stores to an aggressive digital push. The company recently shuttered its stores globally, however, digital promotions such as free access to the Nike Training Club Premium workout app, are apparently paying off. Campion announced the Swoosh's online sales have surged by triple digits over the past few days, comparing the numbers to "Holiday peak levels."
Nike also announced it is working with the Oregon Health & Science University to create protective medical equipment. "We also know that this is a moment in a society where the private sector has a major role to play. Companies like Nike need to do our part. So, our teams in innovation and manufacturing are exploring designs for personal protective equipment, or PPE to support doctors, nurses and others on the front line of this outbreak."
Read Nike's full 2020 Q3 earnings report here.
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