Nike's Triax watch, which hit the market in October
'97, has been "a critical and popular hit," as well as being
"glitch-free," according to Jeff Manning of the Portland
OREGONIAN. Nike expects about 1.7 million in watch sales
from its debut through May 1, 1999 -- which equates to
between $93.8M and $102M, "or more than $60 million a year."
Manning called the watches "the highlight of Nike's sortie
into the sports equipment business," which, in addition to a
"hodgepodge of products" such as balls, batting gloves and
in-line skates, "should pull in about" $200M in revenue in
the current fiscal year. The equipment market "is an
important growth opportunity" for Nike and is generating
"some positive buzz at a time when Nike sorely needs it."
Manning also reported, however, that Nike's "high-profile
entry into sunglasses proved a disappointment, attracting
too many patent attorneys and too few customers." Nike
Designer Ray Riley, on the eyewear products: "I think we
lost a little perspective on what people want. We also came
in at a high price point, way too high" (OREGONIAN, 9/13).
