Nike announced a new brand launch with mega-mogul Kim Kardashian's shapewear brand, indicating a direct effort by the sports company to resuscitate lacklustre sales performance

Appropriately dubbed NikeSKIMS, the company will bring Kardashian's namesake brand permanently into the activewear industry. The label's "extensive product line" will combine Nike

Nike is in a slump. Sales are down, its stock has lost more than a quarter of its value over the past year and its new CEO needs some help turning around the aging athletic company. Enter Kim Kardashian.