Fragments shoes11/14/2023 ![]() It was our designer sneaker, and it made the shoes very visible, and that's a big part of conspicuous consumption is to be able to look across the room and see that that person's wearing a $100 shoe, or $300 shoe in today's parlance. Powell: You really saw the Jordan brand become a luxury brand in the United States. Spike Lee: You know how I get up from my game? Do you know? Do you know? Do you know? That's right, Air Jordan, Air Jordan, Air Jordan. Nike's marketing team connected Jordan with Spike Lee for what would become some of the most memorable commercials in history. Narrator: The company's rollout of the Jordan 3 was equally as legendary as the design. Matt Cohen: Those three things, I think, brought its cultural importance because it was a statement shoe, right? So now you're actually making a statement by wearing a basketball shoe, which wasn't necessarily the purpose of wearing a basketball shoe off-court. And Tinker incorporated his Air Max technology into the sole. It pioneered the first-ever mid-cut basketball sneaker, included elephant-print overlays, and immortalized His Airness in the Jumpman logo. Back then, he was known for innovating Nike's Air Max technology. Today, he's known as the architect of modern sneaker design. The Air Jordan 3 became a crucial crossroads for Jordan and Nike.Įnter Tinker Hatfield. Reports surfaced about Mike being unhappy and looking to jump ship to Adidas. After just 18 games in his new design, Jordan suffered a season-ending broken foot. And at the end of the year, the Air Jordan franchise had made $100 million in revenue. The original Jordan 1 hit stores across America in March 1985, priced at $65. Narrator: Mike's success as a rookie made a big impact on Nike's bottom line. I think it's the shoe that catapulted sneakers to where they are today, because it was the first shoe that people saw and wanted more than the average shoe. It was like first sneaker that really shook up sneaker culture. Nike recognized this unique marketing opportunity and footed Mike's bill as he went on to win Rookie of the Year, playing every game in his banned namesake sneaker.Īmir Ismael: It just showed that he was rebellious, and it was something that people gravitated to, and they wanted to wear them too. On October 18, the NBA threw them out of the game. The Air Jordan 1 swapped the standard white upper for a black one, which violated the NBA's uniform policy and resulted in a $5,000 fine per game.Īnnouncer: On September 15, Nike created a revolutionary new basketball shoe. But that wasn't the only unusual decision Nike made while launching the Air Jordan brand. To understand why Jordan Brand can charge more, let's go all the way back to the beginning, before the Jordan 1 was introduced.īefore the 1984-85 season, Nike signed an unproven MJ to a five-year deal worth more than three times the richest contract at that point. Narrator: According to Matt's research, the average price of a basketball sneaker is about $110, while a Jordan's average price is about $145. Matt Powell: The fact that it's made in China where the tariffs are higher, made in the best factories, made with more material (basketball shoes tend to use more material than a running shoe), and then trying to be as close to the original product are all things that have driven prices up there. It all has to do with the value of the Jordan brand and how it makes and markets its iconic sneakers. These shoes were both sold in limited releases, so why did Jordans become so much more expensive? ![]() The Fragment's resale value more than doubles its competition. But today a pair can resell for up to $2,000.Īnd this is the Yeezy Boost 350 V2 Core Black/Red, which retailed at $220 in 2016 and now resells for $900. Narrator: This is the Jordan 1 Retro Fragment. ![]() Account icon An icon in the shape of a person's head and shoulders. ![]()
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