Michael J. Fox won’t be the only one with “Back to the Future”-inspired self-lacing sneakers.
Nike CEO Mark Parker promised the NBA Board of Governors the self-lacing technology and temperature controlled apparel in a speech last week.
In a report by Bloomberg, Parker met with owners in a private meeting in New York last Thursday and discussed the innovations, including heat-controlled sensors in apparel to aid performance and fit. The self-lacing sneakers were announced publicly last week, on Oct. 15, the date that Michael J. Fox’s character in “Back to the Future II” travels to in the film.
It’s a major move for the basketball behemoth, considering it just signed an eight-year contract with the NBA to provide apparel starting in 2017. Nike took over the NBA logo rights from Adidas, which didn’t renew its contract.
Nike also recently announced major new revenue goals, which it expects to hit in part thanks to its basketball category and its continued innovations. The Portland, Ore.-based firm said it expects to hit $50 billion in revenue by 2020 and will accelerate growth of Jordan Brand basketball-sneaker sales to reach $4.5 billion by 2020.
Parker, who has been CEO for 10 years, is expected to take over as chairman of the company, succeeding founder Phil Knight sometime next year.