Nike acquires data science firm Celect in digital push
Nike has acquired Boston-based predictive analytics firm Celect in a move that aims to help the US sportswear giant better understand what its customers are really looking for.
The tech-driven acquisition is the latest to fuel Nike’s Consumer Direct Offense strategy, which it revealed back in 2017. Financial details surrounding the acquisition weren’t disclosed.
“With the acquisition of Celect, Nike greatly accelerates our digital advantage by adding a platform developed by world-class data scientists,” Nike chief operating officer Eric Sprunk said in a statement. “As demand for our product grows, we must be insight-driven, data-optimized and hyper-focused on consumer behavior. This is how we serve consumers more personally at scale.”
Founded in 2013, Celect uses AI-driven technology to help companies better optimize their inventories, in doing so increasing sales and margins, and reducing markdowns.
Celect's team will immediately be integrated into Nike's Global Operations Team, according to Nike. Celect’s co-founders will continue as tenured professors at the Massachusetts Institute of Technology, and will consult Nike on an ongoing basis.
“We’re thrilled to be joining the Nike team, adding our unique and innovative capabilities to the data and analytics foundation they’ve been building over the years,” said Celect CEO John Andrews.
Photo credit: Nike, Facebook