Nike Unveils Its First Self-Lacing Sneaker

Forget about slipping out of your shoes because of loose laces or feeling pressure from too-tight tying when doing those sprints.

Nike has unveiled its first power-lacing sneaker — it allows users to make the fit looser or snugger on the fly by pressing buttons on the side of the shoe.

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The world's largest sportswear brand, based in Beaverton, Oregon, unveiled the sneaker along with a host of other innovations Wednesday at a media event in New York.

The innovations come as Nike is digging deeper into personalized products and services, while focusing on reaching a goal of posting $50 billion in annual revenue by the end of its fiscal 2020 year. It reported $30.6 billion in revenue for its latest fiscal year that ended in May.

Other innovations Nike highlighted include "anti-clog traction," which uses technology that prevents mud from sticking to the soles of soccer cleats.

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Nike also unveiled a new Nike Plus app, an all-access pass for athletes. The app, available in June, connects to its suite of apps that include running and training aids and provides access to Nike experts.

"We've entered a new era of personalized performance," said Mark Parker, Nike's president and CEO. "Today, athletes want more than just a dash board. They want a relationship."

Nike says that the potential for shoes with adaptive lacing is huge because it provides tailored-to-the-moment custom fit.