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Nike aims to halve time to market in five years

Sportswear giant Nike has vowed to double the impact of innovation over the next five years, scaling innovation faster and doubling speed to market.

It will do this through reducing the product creation timeline by over 50% through investments in digital capabilities, said CEO Mark Parker.

It will “create new aesthetics spanning sport and style” and will launch a membership programme, NikePlus, that will provide exclusive access to personalised services and experiences, and reserved product for members only, he added.

Revenue generated from digital platforms is anticipated to increase from 15% in fiscal 2018 to more than 30%.

Andy Campion, Nike’s chief financial officer, said: “We have implemented new consumer-focused strategies several times in our company’s history, and in each instance, we have ignited NIKE’s next horizon of long-term growth.”

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