Nike is turning to one of the world’s top middle-distance runners in a high-profile attempt to reignite interest among women consumers, amid declining market share and growing competition in the athletic wear sector.

On Thursday at Paris’s Stade Charléty, Kenyan champion Faith Kipyegon will attempt to run a mile in under four minutes—an extraordinary feat never achieved by a woman. The event, dubbed “Breaking4”, mirrors Nike’s earlier “Breaking2” initiative in 2017, when it pushed three male runners to attempt a sub-two-hour marathon. Although that effort fell just short at the time, the surrounding buzz helped catapult Nike’s innovative Vaporfly shoes into global prominence.

Now, under new CEO Elliott Hill, Nike is once again using performance spectacle as a marketing strategy—this time to regain momentum among women. The effort comes at a challenging moment for the sportswear giant: between 2021 and 2024, Nike’s share of the global sports footwear market fell from 28.8% to 26.3%, according to Euromonitor International, as emerging brands like On and Hoka chipped away at its dominance.

While Nike’s men's division saw 13.5% growth during this period, Nike Women products grew just 4.4%. The gap has raised alarms inside the company, which has been working to reconnect with women athletes and consumers alike.

“Nike has been obsessed with getting women back since at least 2021,” said a former Nike manager who spoke anonymously due to restrictions on speaking publicly. The brand has lost ground to rivals such as Lululemon, which has made aggressive inroads into the women's athletic wear market with performance-focused products and messaging tailored to female consumers.

Nike did not comment on internal strategy, but Chief Innovation Officer John Hoke told Reuters that the company is doubling its research investment into women’s anatomy and biomechanics—an acknowledgment that past product development may have been overly focused on men. “What we are doing is we’re now right-sizing,” Hoke said.

For Breaking4, Kipyegon will wear a new suite of Nike gear designed for performance: updated, lighter track spikes, a streamlined running suit embedded with 3D-printed beads to reduce drag, and a new 3D-printed sports bra said to offer exceptional breathability. While the spikes and suit are customized for elite competition, Nike is placing its marketing emphasis on the sports bra, which it plans to bring to market by 2028. The bra has already been tested by other athletes, including WNBA star Caitlin Clark.

Still, analysts remain cautious. “Nike’s goal with Breaking4 is to attract the attention of serious runners,” said Morningstar analyst David Swartz. “But whether that translates into product sales is less clear.”

Some athletes and industry watchers are also tempering expectations. Angelina Monti, a 23-year-old marathon runner and physiologist from Pittsburgh, said she finds Kipyegon’s attempt inspiring but unlikely to influence her buying decisions. “It’s impressive, but for me, performance comes down to the shoes and gear that work best for my training—not the marketing campaign.”

A Changing Competitive Landscape

Nike's earlier performance spectacle, Breaking2, eventually paid off with the explosive success of its Vaporfly shoes, which pioneered the carbon plate “super shoe” category and gave Nike a major edge among competitive runners. But this time, some observers say, the innovations around Breaking4 feel less groundbreaking.

“The suit seems quite unique and envelope-pushing, whereas the footwear just seems like an upgrade to what she’s worn before,” said Richard Kuchinsky, a footwear designer specializing in performance shoes.

Still, some in the running world appreciate the focus on a female athlete. “It’s nice to see Nike invest in a woman—even if this one feels more of a stretch than Breaking2,” said Alison Wade, a former collegiate track coach and founder of Fast Women, a newsletter covering women’s distance running.

Kipyegon’s record attempt will not be official, due to the use of pacers and its setting outside of sanctioned competition. Experts are skeptical she can shave the 3.1% off her personal best that would be required to dip below the four-minute mark.

“But,” Wade added, “maybe Nike has something up its sleeve, and it’ll turn out we were all wrong.”

A Broader Repositioning

Beyond Thursday’s event, Nike has launched several initiatives under Hill aimed at reviving its brand with women. Among them is the After Dark Tour, a global series of women-focused half-marathons and 10K races. Yet challenges remain.

In April, Nike settled a long-standing lawsuit filed by former female employees in 2018, which alleged gender discrimination in hiring and pay. More recently, its partnership with Kim Kardashian’s shapewear brand Skims has drawn criticism from within and outside the company, with some questioning the focus on style over performance.

Whether Breaking4 sparks a turnaround in Nike’s women’s segment remains to be seen. What is clear is that the brand is betting heavily—on technology, storytelling, and Kipyegon’s star power—to reconnect with a consumer base that once propelled it to global dominance.