"Nike Adventure Club lets kids regularly swap Nike and Converse shoes for the right-fitting shoe as their feet-and tastes-evolve". The options will cost either $20, $30, or $50 per month, respectively.
If there's a current craze among corporations and conglomerates, it's subscription services. Yahoo Finance's Myles Udland, Emily McCormick, and Ines Ferre discuss. Now Nike has announced it's getting in on the subscription frenzy, but what it's offering isn't as insane as it sounds at first blush. "As Gen Xers and older Millennials start to have kids, the children's subscription box model will only increase in popularity, including for footwear".
And even though kids can keep their shoes, the company will also hold two shoe drives each year, where families can send back worn-out shoes to be recycled by the Nike Grind program or refurbished and donated to kids in need, the website says.
There are three different subscription tiers for the Adventure Club.
Nike Adventure Club is a key initiative for the company.
Nike has introduced its latest solution to help ease the burden on parents trying to buy a new pair of sneakers for their children, the Adventure Club. Forty staffers are working on the concept.
According to a Nike press release, "The experience of shoe-shopping for young kids is deceptively complex". Other online styling services and subscription companies such as Stitch Fix, Kidbox and Rockets of Awesome are also fighting to win parents and children in the $69 billion United States children's clothing and footwear market.
Cobban noted that avid runners need to replace their shoes frequently and he mentioned the possibility of a marathon membership program.
"We're starting to think about what other athletes have problems that could be very easily solved by a subscription", he said. "This is the beginning of something pretty exciting for Nike".
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