Sneaker Showdown - Nike Targets New Balance And Skechers In Patent Suit: Report
Athletic footwear maker Nike Inc (NYSE: NKE) has reportedly launched legal challenges against two of its industry competitors, New Balance and Skechers U.S.A., Inc (NYSE: SKX), alleging that they have encroached upon patented sneaker technology.
New Balance and Skechers stand accused of utilizing Nike's "Flyknit" technology, a method of constructing the upper parts of athletic shoes, which Nike claims to have innovated for activities ranging from running to basketball, reported Reuters.
Nike has accused New Balance's athletic footwear from Fresh Foam, FuelCell and other lines, alongside Skechers' Ultra ...
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