Nike jumps into the maternity clothing market with the creation of Nike (M)
Yahoo Finance's Ines Ferre joins The First Trade with Alexis Christoforous and Brian Sozzi to break down the details of Nike's new maternity line announced on Tuesday.
Video Transcript
BRIAN SOZZI: Nike announced a new clothing line with a specific audience in mind-- mothers. Ines Ferre is back with the details. Ines, quantify or qualify this product, is what in the world took so long, Nike?
INES FERRE: So it's true. This is the maternity line that Nike is launching on September 17. It's called Nike M. And global data retail says that maternity wear, that market in the US has grown 3.2% in terms of every year in terms of sales. So what you're talking about here is a growing market and mothers who very much need this kind of apparel, this clothing.
What they're starting out with is a line of some four products-- a sports bra, a pullover, tank top, tights. And the products will be priced anywhere between $45 and $85. And what the Nike design team did was it looked at over 150,000 body scans of women all over the world.
So it collected all this data to figure out how to come up with these designs. And mind you that when we're talking about maternity, we're talking about pre-pregnancy, pregnancy, postpartum needs. So that's on average, worldwide, it's seven to ten years of clothing that's needed for that, if you consider that worldwide, women have about anywhere between two to three children.
And the design also has-- they tested 70 materials for this design to try and really look at sustainability efforts, aiming at those efforts. So the tights are made of recycled bronze material. The tank is made mostly of recycled polyester. And the line will be launched on September 17 on Nike.com, which has been a growing outlet for Nike, of course, as it sells directly to consumers. The stock right now is up more than 1 and 1/2%, Brian.
BRIAN SOZZI: All right, good stuff here, Nike. You're up next, Under Armour. We'll check back with you later, Ines.
