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.

NikeSkims is the latest joint venture between Skims and Nike brands. The goal is to reach more women in Nike's audience.

The tie-up is expected to give Nike a leg up in women-centric athleisure brands as it stakes its turnaround on a return to its core sports roots. It currently relies on its men-fo