Nike is taking innovation to a whole new level; its shoes now lace themselves.
The Beaverton, Oregon, company announced on Wednesday the Nike HyperAdapt 1.0, the first sneaker with "power lacing." After a decade spent securing patents, the company has unveiled an adaptive sneaker that it said was self-lacing and self-fitting.
It will be the first mass-produced sneaker of its kind, the sportwear giant said.
"We think this is going to change the way all shoes are made in the future," the shoe's creator and lead Nike designer, Tinker Hatfield, told CNBC.
The shoe has been 30-plus years in the making since the release of "Back to the Future" Nike CEO Mark Parker told CNBC's "Squawk on the Street" during the company's innovation summit Thursday morning.
"We're not seeing consumers backing off of really innovative products ... that's what we're all about," he said.