If the shoe fits, it's not enough--at least not for Nike, Inc. (NKE) .

The sporting apparel giant highlighted its slate of new products and product innovation for 2018, including a cheaper Kyrie, an updated Air Jordan XXXII and new dimensions for the VaporMax as part of its investor day presentation on Wednesday, Oct. 25.

"The next calendar year is unprecedented for advanced innovation," the company said. "We're supercharging our innovation pipeline."

Along with the new products, Nike also boasted a line of collaborations for the holiday season with the likes of rapper Travis Scott and streetwear designer Acronym during the presentation.

More of What's Trending on TheStreet:

The Kyrie, a signature shoe in Nike's basketball line, traditionally comes at $120 a pair. A $80 pair would stand out in a market that usually runs in the $100 range. Under Armour, Inc.'s (UAA) Icon Curry model, for instance, costs $150 a pop.

The new XXXII will "leverage" Flyknit, a Nike technology that weaves yarns and fabric to be featherweight, as well as Flight Plate, an elastic function in the sole of the shoe.

Nike also announced innovation in womenswear, including a new sports bra using Flyknit and a "Pant Studio" in select stores. Other innovation features include the imminent release HyperAdapt 2.0, sneakers with that automatically tightens.

The sneaker maker will not only roll out new innovations next year but also shorten the production time--or at least try. It wants to cut the design and manufacturing process in half, to under six months, as part of its five-year plan, according to Mark Spillane, the president of products and merchandising. After the streamlined initial production process, Nike aims for any product updates-or minor changes to product design-to happen in under 90 days, and product fulfillment under two days.

"We focus a lot of attention on manufacturing," Chief Operating Officer Eric Sprunk said Wednesday. "We're in the early stages of major shifts in our supply chain." Currently, Nike's design and production process takes at least a year.

Last month, Nike launched its collaboration with designer Virgil Abloh to redesign its ten classic sneakers, including the Jordan 1 and Converse.

Following the presentation Wednesday, Nike shares are up nearly 4% as of Thursday afternoon.

More of What's Trending on TheStreet:

Editors' pick: Originally published Oct. 26.

More from Stocks

Tesla's Decline Causes Concern for Almost $1 Billion in Bond Payments

Tesla's Decline Causes Concern for Almost $1 Billion in Bond Payments

Tesla Stock Falls 13% After Carmaker Unveils Job Cuts, Q4 Profit Guidance

Tesla Stock Falls 13% After Carmaker Unveils Job Cuts, Q4 Profit Guidance

CVS Reaches Pharmacy Benefits Management System Deal with Walmart

CVS Reaches Pharmacy Benefits Management System Deal with Walmart

Why Jim Cramer Is Holding Off on Buying Nvidia Stock

Why Jim Cramer Is Holding Off on Buying Nvidia Stock

Netflix Stock: Why I'm Keeping My Bird Box Blindfold On

Netflix Stock: Why I'm Keeping My Bird Box Blindfold On