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Times Square Investment Journal

A take on business from Times Square

Sponsored by NYC News Service and CUNY Newmark J-School

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Company Insights

Nike Dropped Caitlin Clark’s First Signature Shoe and It’s Almost Sold Out.

Basketball star Caitlin Clark’s first signature Nike sneaker almost sold out the same day of its release. Nike dropped the Caitlin 1s on Oct.

Basketball star Caitlin Clark’s first signature Nike sneaker almost sold out the same day of its release. 

Nike dropped the Caitlin 1s on Oct. 1, selling out all but the largest sizes of the $140 shoe. Clark, who plays for Indiana Fever in the Women’s National Basketball Association, broke records as the NCAA Division I all-time leading scorer at the University of Iowa. Her style of play drew newfound attention to the WNBA, breaking TV and attendance records. 

The sneaker, available in blue and yellow, features a new interlocking C logo and stacked Nike Swooshes. The Caitlin 1s were included in the 8-year Nike deal Clark signed in 2024 for $28 million. 

Nike also released its earnings report last Thursday, reporting that first quarter revenues were down 4% to $11.2 billion, short of its expected $11.3 billion goal.

In a difficult time for the company amid massive decline in profits, Nike’s successful release with Clark shows the sportswear giant still has influence with consumers. 

The sneaker is the latest result of Nike’s strategy to regain consumers by rebuilding its company with athletes and sports at its core. Nike CEO Elliott Hill announced Pace, a new operating strategy that includes improving its supply chain and company-wide layoffs to better serve athletes.

As the sportswear giant focuses on becoming more profitable in its business model, there are other signs Nike’s strategies are working.

While overall revenue missed estimates, Nike’s North America market was $5.1 billion, beating Wall Street’s expectations and up 2% year-over-year. 

Launching Clark’s shoe as the WNBA grows in popularity captures Nike’s ability to maintain a pulse on its North American market. It also shows that Nike is capitalizing on the “The Clark effect,” a phenomenon that credits the athlete for the increased spike in popularity and investment in women’s basketball.

“A lot of thought and time has gone into this shoe,” said Clark in a September press release. “I never thought I would have my own signature shoe, and now that I do, it’s pretty special. I can’t wait to share this moment with so many people.”

About the Journal

Reported from a newsroom in Times Square.

The Times Square Investment Journal covers companies, markets and personal finance from a newsroom in the heart of Manhattan. The Journal is sponsored by the NYC News Service and the Craig Newmark Graduate School of Journalism at CUNY.

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