Nike Inc (NYSE:NKE) has announced a new shoe called the HyperAdapt 1.0 that removes the problem of having to tie shoelaces.

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The footwear company claims that the shoe is designed in such a manner that the shoe laces adjust themselves automatically. The shoe was unveiled during an event held in New York. The trick behind the self-tying laces is technology that involves some battery power that makes the laces tighten at the push of a button. The shoe also has lights. The reveal was made by the company’s CEO Mark Parker, who also unveiled a few other innovative technologies.

The shoe will be made available for sale during the holiday season, but Nike did not announce the pricing of the shoe. Nike has been hinting more about self-tying shoes for the past ten years as the company has been working on the technology. The concept was featured back in 1985 in Back to the Future II.

Apparently, the plus button on the shoe starts a small motor making it tighten the laces while the minus button reverses the process thus loosening the shoe to allow removal. The process takes only a few seconds. The lighting on the shoe warns the wearer when the battery pack is running low.

The shoe can only adjust at the press of a button for now, but the company’s designers claim that they are working on how the shoe can adjust automatically when athletes are running. This means activities such as running or jogging will become more comfortable as tightness will be adjusted automatically. Nike plans to make this possible by placing a sensor at the heel so that when a foot slips in the shoe, the sensor will detect and automatically adjust the tightness of the laces.