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By Stephen Nakrosis
HandsFree Labs Inc. on Wednesday said it received a strategic investment from athletic footwear and apparel company Nike, Inc. (NKE).
HandsFree offers Foot Activated Shoe Technology, or F.A.S.T., which allow people to step in and out of shoes without using their hands, the company said. The company sells footwear in the casual, dress and outdoor segments, and plans to launch an athleisure brand, it said.
The Nike investment "includes an intellectual property license, and extends the reach of HandsFree Labs' patented portfolio of Foot Activated Shoe Technology solutions," HandsFree said.
HandsFree said in addition to the Nike deal, it plans to "roll out its technology through licensing deals with other footwear categories and manufacturers."
HandsFree Labs is based in Vineyard, Utah.
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(END) Dow Jones Newswires
November 20, 2019 17:36 ET (22:36 GMT)
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