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Nike Invests In Utah-based Technology Company Handsfree Labs, Inc.

By John F. Heerdink, Jr.

NIKE, Inc. (NIKE) is the world’s top designer, marketer, and distributor of athletic footwear, equipment, apparel, and accessories. The Beaverton, Oregon based company offers products for a wide variety of sports and fitness activities.

As per reports, Nike has invested in Handsfree Labs Inc, a Utah company to build on shoes that are easier to tie and untie. Handsfree Labs based in Vineyard, Utah owns a portfolio of patented step-in shoe technologies and its technologies are branded as FAST, or Foot Activated Shoe Technology.

“Our partnership with Handsfree builds on Nike’s leadership in using innovative technology to meet consumer needs,” stated Tom Clarke, Nike president of Innovation.

Nike’s existing shoe range FlyEase inspired by a consumer with Cerebral Palsy is an easy-entry sneaker, and with this partnership, Nike will be able to use Handsfree’s technologies.

“Handsfree Labs is passionate about bringing the comfort and convenience of hands-free shoes to everyone, and our partnership with Nike accelerates this vision,” “With Nike, we are reinventing the way people put on shoes, and we are proud to introduce the world to this significant footwear advancement.” stated founder and CEO Mike Pratt.

The terms of Nike’s investment in Handsfree were not disclosed.

To learn more about NIKE, Inc. (NIKE) and to continue to track its progress please visit the Vista Partners NIKE Coverage Page.

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(Read Original Story: Nike investment builds on hands-free technology in American City Business Journals)


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