This is the Air Jordan 3 “Black Cement”. It was first released in 1988, and since then it has been retroed 4 times. This could be considered the most important sneaker in history as it helped propel Air Jordan, and perhaps save Nike. This particular shoe did for sneakers what the Iphone did for phones. And right now I am sure most of you are thinking… sneakers? I’m sure many of you are questioning how I was even allowed to give a speech in a college event about investing, and that is fair. Perhaps some of you have never even thought about your shoes that much, even though they have been right under your nose for decades. But yes, I am talking about sneakers, and data, and Nike and how they are all related to the future of online commerce and …show more content…
It sold out almost immediately all across the world. That is because people camped outside of sneaker stores for days before they were released in order to secure a pair. And just minutes after their release thousands of pairs went on eBay for 2-3 times the retail price. Even 5 years after the release, in the past year over 300 new pairs have sold on eBay for an average price premium of 181.3%. Like other releases the prices shoot up after the release, then slowly drop before picking up again later when the shoe is harder to get. It’s a cycle, that happens every week as Jordan brand releases 1, 2, or 3 new pairs. A few weekends ago Jordan Brand released the Jordan 11 “Space Jam”, a pair of shoes that Michael Jordan wore in the highest-grossing basketball movie of all-time: Space Jam. It is estimated that Jordan Brand released one million pairs… one million pairs for $220 dollars, and they still sold out within …show more content…
Nike isn’t like a stock exchange, there is no central exchange for shoes. In 2014, there were over 50 different online markets selling shoes and that number continues to grow. This means there is a lack of efficiency, transparency, and sometimes even authenticity. Could you imagine if that is how stocks were bought? What if the way to buy a share of Apple stock was to search online and off, and just hope that you would pass someone walking down the street who was wearing Apple stock, not knowing if they had the best price or even if the stock is
Nike was introduced in 1971, as a small organization which has grown into a multi-billion organization, as one of the top sellers of sports apparel as well as having endorsements.
The famous basketball shoe Air Jordan’s, are the number one shoe bought by consumers. The Air Jordan shoes originated from no one but the basketball star Michael Jordan. His shoes not only were a hit on the court, but also shortly became a fashion statement with years to come. Jordan took his skill on and off the court to further his business with his shoes.
I think that that will solve a lot of the problems.” TJ Jacobs, a self-proclaimed Sneakerhead and shoe store employee, offers an explanation to the reason why Michael Jordan releases a limited amount of shoes. “It wouldn’t be an exclusive shoe or as popular if everyone could get it. The shoe wouldn’t have the same value.” Jacob says he not only camps out for shoes for himself, but he buys pairs that he can sell to people who couldn’t get a pair. He says that he once bought a pair of Jordan Galaxy Rookies for $400 and sold them for $600. There is a lot of money and time invested in the marketing and selling of Jordan sneakers, and the brand continues to
Did you know jordan was fined 5,000 dollars a game when he wore his notorious shoes ‘the first shoe he ever made” but he was fined because the refs and the people of the nba didn't think they where basketball shoes. When i first was searching on google for jordan's i came acrossed the price so i thought it would be interesting to do the price of a everyday jordan shoe. After i was looking for a while i found the most expensive pair of jordans out
“I've failed over and over and over again in my life… and that is why I succeed.” –Michael Jordan. A quote that says it all about Michael Jordan’s life and basketball career. During his career, he had always played the game of basketball above the rim, bigger than life he was thought to be and the image of athletic perfection. Michael Jordan had changed the game of basketball and changed history while at it.
Everyday, billions of people look down at their feet and squeeze them into a pair of shoes. For probably most of those people in America, when they look down at their feet, they see a shoe with a swoosh on it. This swoosh belongs to no other than one of the most popular sneaker companies, Nike. I decided to look further into this popular shoe company's success. It turns out Nike isn't even one of the oldest shoe companies, but it is less than 60 years old. Nike had to figure out how to become better than just an ordinary sneaker company.
Now Michael Jordan has a very well known basketballs that have now also started producing shoes that are used for basketball. His competitors are LeBron James and Kevin Durant. Since his competitors have become know for their shoes Michael Jordan and the Nike Company have found ways to still provide a great quality shoe but at a lower price so that consumers will still be happy with their product plus they can afford them
To conduct this study on Nike I used a mix of primary sources, books, and websites that are all dedicated to Nike Brand’s past and present history. All of the sources I used have proven to be credible in the sneakerhead world and are sources that Nike will leak information to so they can publish it and make it known to everyone it may interest. Additionally, I used a connection I have with the District Loss Prevention Manager at Nike, Inc for the greater New York City Area to obtain an interview in order to gain insight into why Nike conducts limited releases the way they do. To protect his identity, for this paper I will be referring to him as “Bill Harris” as he provided me with insider information that is classified and
Nike is the leading and yet renowned supplier of athletic apparel and shoes. The company controls close to 33% of the global athletic shoe market (Dogiamis & Vijayashanker,2009).Nike was founded by Bill Power and Phil Knight in 1962 as a Blue Ribbon Support and then was later on renamed to Nike in the year 1968 (Patrow,2003).The company supplies very high quality product in close to 100 countries with major markets being located in the U.S,U,K, Asia Pacific as well as in the Americas. The company has managed to attain its lead and legendary position via the application of innovative and yet attractive product design which is backed by quality production as well as well crafted marketing strategies.
Michael Jordan started the shoe brand air jordan this is Michael’s own brand of shoe that he created. Air jordan began in 1984 when Nike was struggling as a shoe company. At this time Nike was know for running shoes and the running shoe phenomenon was dying slowly. Nike was looking for another way to reinvent and make a new appealing segment of market. Nike looked to the NBA at a rookie Michael Jordan (http://airjordanshoeshq.com/air-jordan-brand-history/). Michael was already considering several other products. Nike felt that Jordan could help them turn things around. Michael was hoping to sign with converse the shoe in the NBA at the time or Adidas since he always loved Adidas and Converse. They were the shoes that he wore as a basketball
sale of Nike’s high-margin products to high-end customers. Regardless of the low cost of the World Shoes, they
Not only are sneakers a part of my identity, they are a part of my self-expression as well. Listed in my top 5 favorites is my Air Jordan 7 Retro “Bordeaux”. The color scheme of burgundy and dark yellow mixed with black and grey is such an eye-catcher, just like my 5’10” height, brown skin complexion, and sensible fashion. The shoe brings out confidence, and as a result, I feel in control and unstoppable whenever I put them on. It goes deeper than just buying another pair of sneakers to me, they’re a declaration of my personality and
Competition is very fierce due to the number of companies competing for sales. Lots of money goes to marketing and promotions using various channels to reach the young demographic group of consumers who spend the most money on Nike’s products. Growth is slowing down in the athletic footwear industry. But new markets are emerging with high growth rates. These markets include extreme sports market and the corporate merchandise market.
The sportswear industry is very price sensitive and most competitors prices are about the same. Nike sells its products in Nike shops and the selling of its products direct to the consumers conflicts with other resellers of the brand. Most of Nike’s earnings are derived from selling into retailers.
It all started my freshman year in high school when I noticed my friends Jordan’s that he had waited hours outside of a shoe store for. At the time they were some of the coolest shoes I had ever seen, I wanted a pair like that. I took a deeper look into retro Jordan’s and found out that most were really hard to get. You couldn’t just go to your nearest shoe store and just pick up the pair you wanted. You would have to drops hundreds of dollars on a pair that others camped out for or woke up hours early to get on the nike.com release of the shoe.