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Nike Unveils Olympic Gear

--Nike unveils track and field uniforms and other apparel that will be worn by U.S. athletes at the Summer Olympics --Variations of the gear will also hit retail shelves to become available to consumers --New track gear is on average 0.023 second faster than what Nike developed for the Beijing Olympics in 2008 NEW YORK--Nike Inc. (NKE) on Thursday unveiled a slate of track and field uniforms and other apparel that will be worn by United States athletes at the upcoming Summer Olympics, gear that will also be available to consumers. The debut of the Olympic gear comes after the athletic-goods maker in April showcased new National Football League uniforms developed under a five-year license deal. Variations of both lines are becoming available to consumers to help bolster Nike's apparel slate. The latest technology incorporates new textures, which Nike creative director of innovation Scott Williams likened to dimples seen on a golf ball that help it slice through the air. For the apparel Nike has developed, the dimples can mostly be seen on the leg and arm of the uniforms, ultimately creating less resistance in parts of the body that travel faster as an athlete runs, Mr. Williams said. Mr. Williams said the development of the track-and-field gear, a slate of an estimated 24 pieces, incorporates feedback from professional athletes Nike worked with during the testing process. The new gear is on average 0.023 second faster than what Nike developed for the Beijing Olympics in 2008. One major change for the track-and-field gear for the London Olympics is that the primary color will be red, rather than the blue that has been used by the team for the past 10 years. "We had heard very loudly from them [the athletes] that they really loved the boldness of the red versus the more dark, somber blue," said Mr. Williams. The medal stand apparel, which includes three separate looks, incorporates some subtle nods to U.S. heritage. All three jackets include the phrase "Land of the free, home of the brave," and one jacket's back has 50 small holes--representing the 50 states. The U.S. flag, high on the jacket's shoulder, is placed in the same location as space suits. The apparel, which includes some alterations to make the gear more appropriate for a wider audience, will hit retail shelves as the Olympics kick off. Athletic apparel growth, which has outpaced the broader industry's growth in recent years, is expected to gain more share during the next few years, according to a recent Credit Suisse report. The firm projects annual athletic apparel growth to average more than 5% in the next five years versus 2% to 3% forecasted growth overall. Credit Suisse said retailers are taking notice, with many announcing plans to boost their exposure to athletic apparel in coming quarters, a trend that should largely benefit Nike, Under Armour Inc. (UA), VF Corp. (VFC) and others. Nike's apparel business has notched a strong performance in line with the company's footwear and sports-equipment businesses. For the first nine months of the fiscal-year period ended Feb. 29, Nike's apparel sales have jumped 16% to $4.74 billion. Nike is due to release its fourth-quarter figures on June 28. The U.S. track and field uniforms, as well as medal stand apparel that will be worn by even more athletes, will be seen throughout the London Olympics. That event kicks off with an opening ceremony on July 27 and ends on Aug. 12. Write to John Kell at john.kell@dowjones.com

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