Nike launches subscription service for kids
Nike Inc. said Monday that it is launched a footwear subscription service for kids, Nike Adventure Club, that will allow children to swap Nike and Converse shoes for a new pair as their rapidly feet grow. The club will serve sizes 4C to 7Y, which the company says is roughly from ages 2 through 7, and will have three tiers, starting with four pairs per year at $20 per month, up to 12 pairs each year for $50 per month. Shoes will come with "adventure guides" created through a partnership with nonprofit Kaboom, filled with outdoor games and activities. Worn shoes can be sent back to Nike in a bag the company provides, and if possible, the shoes will be refurbished and sent to a family in need. Nike stock is up 10.4% for the year to date while the Dow Jones Industrial Average has gained 11.3%.
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