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July 14, 2021, 9:57 a.m. EDT

Nike Could be Big Winners at Tokyo Games

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Jul 14, 2021 (Baystreet.ca via COMTEX) -- The 2020 Summer Olympics are due finally to start next weekend, after being delayed a full year due to the COVID-19 pandemic.

The games will bring a return of international competition and possibly have record viewership. One company that could benefit from a strong showing of the athletes wearing and Nike Inc., /zigman2/quotes/203439053/composite NKE +0.55%

Some of the most-watched sports and medal ceremonies will feature heavy product placement by Nike, which could lead to a boost in apparel sales and marketing for the company.

Nike is bringing its hands-free entry shoe -- the Glide FlyeEase -- to the 2020 Olympic Games.

Athletes from the U.S. that win medals will be outfitted in a sustainable themed outfit made 100% from recycled material from Nike. The athletes will also have the Glide FlyEase shoe made from partially recycled material and features a flexible heel and snug fit.

Along with outfitting athletes on the medal stand, Nike is behind the uniforms worn by the USA basketball, skateboarding, and track and field teams. Several international soccer teams will also wear Nike uniforms.

Track and field athletes will also be seen wearing the Nike Air Vapormax 2000, a low-impact shoe from Nike.

The Olympic Games could provide a good launch point for the Glide FlyEase, which will retail for $120 and could see huge demand from the Olympics.

Nike's focus on sustainability could get strong attention from the media and be mentioned by commentators during the games, which could help boost Nike's ESG (environmental, social, governance) profile.

NKE shares took on 56 cents to open Wednesday at $162.15.

COMTEX_389795126/2559/2021-07-14T09:57:14

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

/zigman2/quotes/203439053/composite
US : U.S.: NYSE
$ 158.01
+0.87 +0.55%
Volume: 5.53M
Oct. 15, 2021 4:00p
P/E Ratio
41.97
Dividend Yield
0.70%
Market Cap
$248.72 billion
Rev. per Employee
$606,999
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