Puma to release self-lacing sneakers to take on Nike

Fi won’t be on the market until Spring 2020 and will be sold for $330. That’s slightly less than Nike’s Adapt BB, a self-lacing smart basketball shoe which will retail for $350.

“We really wanted to tackle digital technology to bring something into the physical world,” Puma’s Global Director of Innovation, Charles Johnson, told CNBC at a preview event in Hong Kong.

“It’s definitely where I see things going and we already have ideas about how it will evolve. Not just ideas,” he said. “We’ve prototyped some things that will use this technology beyond where it’s at.”

Johnson said they could eventually open up the technology to developers that would allow third parties to create a variety of apps based around its smart shoe.

Puma is the third largest athletic shoe company behind both Adidas and Nike.

— Clarification: This article has been updated to reflect that Puma is the third largest athletic shoe company.

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