In a move that strengthens their digital offerings and may alter the way we buy shoes, Nike, Inc. has partnered with Invertex Ltd., a Tel Aviv-based startup with proprietary computer vision and artificial intelligence technology.
“The acquisition of Invertex will deepen our bench of digital talent and further our capabilities in computer vision and artificial intelligence as we create the most compelling Nike consumer experience at every touch point,” said Nike Chief Digital Officer, Adam Sussman, in a statement.
Here’s what you need to know:
-Invertex is the second digital-based company that Nike has acquired in the last month. They announced the purchase of Zodiac, Inc., a consumer data analytics firm, in late March. These companies lend a hand toward Nike’s recently-introduced Consumer Direct Offense (CDO) which represents both an increased reliance on digital products and a focus on the consumer.
-Invertex’s technology includes Launch-Pad, an autonomous unit placed in-store to 3D-scan a shopper’s feet and send the results directly to a mobile phone.
-When originally founded in 2014, Invertex used 3D scanning to create customized medical equipment like orthotics and braces.
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SportTechie Takeaway:
Nike is one of many apparel companies making a move toward acquiring tech talent.
Via acquisitions and new product launches, Under Armour has made it clear that it wants to brand itself as more than an athletic apparel company. It has partnered with EOS, an industrial supplier of 3D printing equipment, and launched its HOVR smart shoe to automatically track a runner’s distance, stride length and cadence. The company’s fourth quarter earnings last year were buttressed by it’s nascent technology division.
Not to be outdone, Adidas has partnered with wearable company Fitbit for an Adidas-edition fitness watch, created a “smart” World Cup ball for this year’s contest in Russia, and crafted a shoe for James Harden using a data-driven model that measured the MVP candidate’s footwork patterns and direction changes.
Suggested further reading (listening):
Under Armour’s Head Of Global Footwear On The SportTechie Podcast