Nike (NYSE:NKE) announced it will open its first all women's sportswear shop in the U.K. Thus far, the company has tested out three other womenswear shops, two in the United States and one in Shanghai.
Currently women's apparel accounts for one-fifth of Nike's annual revenues, but is the fastest growing segment of the business, reported The Evening Standard.
Nike will pay 435,000 pounds a year for the space and has signed a 10-year lease. The U.K. location will be in Chelsea, on the King's Road, a prime retail location. Doors are planned to open in May.
Nike is not afraid to test new concepts all over the world. In 2013, the athletic giant opened a Shanghai store completely made of trash. The store uses no glue and incorporates 5,500 soda cans, 2,000 plastic water bottles and 50,000 old CDs and DVDs ("urban mined 100 percent recycled from our consumer lifestyle trash," as Nike puts it).
Nike's e-commerce sales have really taken center stage in the past year. In just one quarter last year, the company reported a 70 percent increase in e-commerce sales.
Some of Nike's recent success can be attributed to its brand popularity among millennials. It continually ranks No. 1 among consumers ages 18 to 34.
-See this The Evening Standard article
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