Among the standout developments in Nike Inc.’s (NYSE:NKE) fourth quarter earnings on Thursday was the rapid ascent of its Vomero 18 running shoes, which became a $100 million franchise within just 90 days of launch.
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What Happened: During the earnings call, the company’s CEO, Elliot Hill, did not hold back when highlighting the success of this brand, and called it a clear sign of innovation-led growth is returning.
“Vomero has already become a $100 million business with growth in all GEOs,” Hill said, while crediting strong consumer response across its “Nine Box” running shoes lineup and early wholesale enthusiasm as key drivers of the new model’s rapid success.
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Hill adds that the company is doubling down on the brand, with variants already on their way. “We have Vomero Plus and Vomero Premium coming in… Both those shoes are beautiful shoes and incredibly innovative and distinctive,” he said.
He, however, acknowledged during the call that the company’s fourth quarter …