NEW YORK, Oct 28 (Reuters) - Nike Inc unveiled a line of products on Tuesday, October 28th made in keeping with new green goals that the footwear and clothing manufacturer says should reduce waste and increase profits.

"Nike Considered" shoes, apparel and sports equipment use more environmentally friendly materials, produce less waste in the manufacturing process, and are easier to recycle.

Nike, whose U.S. track and field uniforms during the recent Beijing Olympics were made from recycled Coca-Cola bottles, set a target to have all its shoes meet "Considered" standards by 2011, all clothing by 2015, and all equipment like balls, gloves and backpacks by 2020.

"We're trying to reduce costs and improve margins," said Chief Executive Mark Parker in an interview. "To make the company more profitable while reducing the footprint we have on the planet."

Parker was in New York for an event showcasing Spring 2009 products made with sustainability in mind.

Once all Nike products meet the "Considered" benchmarks, it will translate to Nike reducing waste in its supply chain by 17 percent and increasing the use of environmentally preferred materials by 20 percent.

Parker said benefits of streamlining the supply chain will offset the increased costs from purchasing environmentally-preferred materials, such as organic cotton.

As a result, the sustainably-designed shoes will carry the same price tags and profit margins as other shoes, he said. (Reporting by Martinne Geller, with additional reporting by Alexandria Sage in San Francisco, editing by Gerald E. McCormick)