Nike will launch a new women's activewear brand in the U.S. this spring in partnership with Kim Kardashian-owned shapewear clothing company Skims, as CEO Elliott Hill works to bolster its portfolio to better compete with upstart brands.

SKIMS and Nike joined forces to "disrupt the industry" and create top-notch, new activewear that works for athletes of all levels.

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.