- Australia's largest state hits record-high COVID-19 cases despite weeks of strict lockdown. 'It's a tinderbox ready to explode,' one official said.
- eToro says crypto made up 73% of trading commissions in the last quarter, as retail customers dived in
- A flight attendant says she was too exhausted to report a passenger who shoved her when a flight was overbooked: report
- US jobless claims climb for first time in 5 weeks, to 353,000
NIKE’S FLYKNIT TECHNOLOGY is saving the company a ton of money.
The Flyknit material, which debuted two years ago, is lightweight, minimalist, and fits like socks.
Nike use “automated, high-tech knitting [technology] to ‘weave’ the shoe’s upper” half into one piece, instead of several pieces that are stitched together, according to a recent research note by Deutsche Bank.
The technology reduces labour costs by up to 50% and cuts material usage by up to 20%, resulting in .25% higher margins, analysts wrote. The Flyknit shoes retail for $120 to $150 (€92 to €115) on Nike’s website.
Here’s a close-up of the fibers:
The manufacturer are also utilizing 3D printing machines to build the soles of some of its shoes, including the Vapor Laser Talon soccer cleat.
“Nike are transforming its footwear manufacturing process from a low value add, labour intensive process to one that is more automated, high value add using the latest technologies,” analysts wrote.
Adidas is leveraging similar technology “and is targeting a fully automated footwear production platform,” they noted.
Adidas’ version of Flyknit is called Primeknit.
