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Business Insider
04-07-2025
- Business
- Business Insider
Sneakerheads and footwear insiders tell us why Nike is on the right track
Nike is trying to regain dominance with a new CEO, strategies, and sports-focused initiatives. Collectors and analysts emphasized the importance of using exclusivity to boost Nike's appeal. Nike's partnerships with athletes and innovation are keys to its comeback efforts. Nike's biggest fans have some tips for the retail giant. The sportswear brand is on a journey to regain its footwear dominance. Although its $46 billion in annual sales are ahead of smaller competitors like On Running, longtime rival brands like Adidas are nipping at its heels when it comes to mindshare. Nike's sales fell 10% during its last fiscal year. In October, as growth was stalling, the company brought on a new CEO, Elliott Hill, to get the business back on track. He's been slashing promotions, prioritizing wholesale relationships with major retailers, and putting sports back at the brand's forefront. Many avid shoe collectors, sometimes called sneakerheads, have followed the brand through its ups and downs over the years. Business Insider spoke with two loyal customers and an analyst who follows the company closely. They had mixed perspectives on the Nike of 2025. Here's what people who know Nike well have to say about the wins and losses of its comeback efforts. Nike needs to get better at knowing what to stock and when Lamar Stewart, a 32-year-old collector who estimates he owns over 100 pairs of shoes, said his love of Nike goes back to his teenage years. Lately, though, he's found some of the brand's drops underwhelming. Part of the problem is Nike's inventory strategy, including knowing when to limit or increase the quantity of a sneaker. Take the classic University of North Carolina Jordan 1 that Nike reimagined and released in May, Stewart said. Though he and other sneakerheads he knew were hyped for the famous blue and white shoe drop, the company released so many that Stewart saw them "sitting on shelves" in stores and online. "When they have a lot of stock, people aren't feeding into it," Stewart said. It's an issue Nike is addressing behind the scenes. Hill, the former president of consumer and marketplace who returned to the company as CEO, is helping Nike lessen its reliance on retro styles, such as Air Force Ones, Nike Dunks, and Air Jordan 1s. Nike has been collaborating with some of the WNBA's biggest stars on new styles and reviving its focus on running, for example. Some analysts are optimistic that Hill can help manage this "tug-of-war between scarcity and distribution," BMO Capital Markets analyst Simeon Siegel said. Exclusivity is necessary Nike did better anticipating demand with the Neon Air Max 95. It's "one of the most legendary Air Maxes," Stewart said, and collectors went crazy for the April release. Stewart said the drop drummed up feelings of the old days for sneaker collectors like himself, recalling the excitement of waking up early to stand in line for a coveted shoe. It may have been frustrating for those who couldn't get their hands on them, but complaints about not enough shoes are good for the apparel giant. It's better to leave customers wanting more. Hill said during Nike's earnings presentation last week that the company saw promising results in the fourth quarter with "reintroducing the Air Max 95 to a new generation." Siegel said creating exclusivity is key to appeasing sneakerheads. Recreational shoe collectors want what their peers can't easily get their hands on. That's part of why the company mixes in drops exclusive to its SNKRS app. "Nike needs to have many shoes that are hard to get," Siegel said. Innovation is tricky Innovation is also critical to Nike's efforts to move beyond its retro styles. Shu Cheng sells many Nike styles at .IMAGE, the New York City sneaker consignment store he cofounded. He said he does his best to educate Jordan-obsessed customers about Nike's new technologies, like the Nike x Hyperice Hyperboot, which heats up and massages ankles. His shoppers are more interested in retro styles, though. "We want to give our customers Nike's innovation, but they're not coming in and asking for it," Cheng told BI. Still, some of Nike's more innovative shoes have sold well. WNBA star A'ja Wilson's A'One sneaker sold out in under five minutes in May's online release. The A'One was made with Nike's cushioning technology called Cushlon ST2 foam. "I think where Nike went wrong in recent years was losing focus on what has made the company great for so many years, which is innovating and designing really cool products and telling marketing stories that gets the consumer excited about those products," Jim Duffy, a Nike analyst for Stifel Institutional, previously told Business Insider. Such innovation comes from putting their "ear to the streets" and listening to consumers, Stewart said. Smaller rivals are flourishing by "giving the people what they want," he said. Running brand Hoka, for example, has been a leader in the ultra-cushioned shoe trend among athletes. To catch up, BMO analysts suggested Nike take a leaf out of its old playbook and be a "fast copier" of what's working for Hoka. Nike, which released its cushioned Vomero 18 running shoes in February, is already following the trend. @torialynaee Testing out the newest Nike Vomero 18s on a quick 4 mile run, to see if they're worth all the hype! Spoiler alert ‼️: they absolutely are 🙂↕️🙂↕️ Every runner at any skill level needs a shor that feels great for THEM. I thought they would be all hype and feel like my Hokas, but boy was I WRONG! @Nike #nikeshoes #nike #runningshoes #nikevomero18 #vomero ♬ original sound - Toria Lynaee What's next for Nike Nike's renewed sports-first approach is smart, Cheng said. Instead of focusing on celebrities — like competitors Puma and On have done with Rihanna and Zendaya — collaborating with athletes leans into Nike's image as a sportswear brand. However, there's no denying the connection that sports style has with streetwear. The Air Jordan 1 started off as a basketball shoe and grew into a cultural phenomenon and its own brand under Nike Inc. The sportswear company is no stranger to partnering with luxury brands and A-listers like Jacquemus or Travis Scott, either. Nike is cooking up a unique collaboration with Kim Kardashian's Skims. The launch was recently delayed but is expected to be released in 2025, analysts said. Cheng said it's a good play to continue attracting female customers — something he said is missing from his shop. "We used to sell a lot smaller sizes, and now less and less females come in," Cheng said. "It might bring back that customer base." Winning over women is another brick laid in the groundwork of Nike's journey back to the top. Its first Super Bowl commercial in decades starred female athletes, and it's the popularity of the WNBA. "Nike, the business, still dwarfs the competition," Siegel wrote in an analyst note.
Indian Express
28-06-2025
- Entertainment
- Indian Express
Top 10 most expensive sneakers ever sold: These Michael Jordan's game-worn kicks cost more than a Bugatti
10 most expensive sneakers in the world: What began as a subculture rooted in basketball courts, hip-hop videos, and skate parks has exploded into one of the most influential and lucrative corners of the fashion world. In today's world, sneakers are status symbols, considered investments, and sometimes, even museum-worthy art pieces. Gone are the days when sneakers were just about comfort or athletic performance. Now, sneakerheads are lining up for days, entering raffles, and shelling out thousands to even lakhs of rupees for that one elusive pair. Collaborations with celebrities, designers, and artists – from Kanye West to Travis Scott – have only added rocket fuel to this phenomenon, turning rare sneakers into objects of desire that rival luxury watches and designer handbags. In July 2019, the game changed forever for sneakerheads and collectors. That was when Sotheby's made headlines with its first-ever sneaker auction, selling a pair of ultra-rare 1972 Nike 'Moon Shoes' for a staggering $437,000, nearly three times the estimated $150,000 price tag. Just ten months later, in May 2020, the same auction house topped its own record by selling a signed pair of Air Jordan 1s for an eye-popping $560,000. As The World's Greatest Sneaker Collections editor Woody puts it, these jaw-dropping figures aren't just milestones for collectors. They signal something bigger: the arrival of wealthy investors treating sneakers as the next frontier in high-value assets. Since those historic auctions, the private market for rare kicks has gone into overdrive, with prices soaring to mind-boggling levels. 'Looking back, those early numbers almost seem like a steal,' Woody notes, 'if you can wrap your head around the idea of worn sneakers costing as much as real estate.' And it's only getting crazier. With the rise of sneaker auctions and ever-growing interest in one-of-a-kind pairs and game-worn icons, the ceiling keeps climbing. Whether it's a piece of sports history or an ultra-exclusive design, these sneakers are redefining what collectibles can be. So, get ready–we're counting down the most expensive sneakers ever sold, and the list is nothing short of wild. In 1972, when Nike was still taking its first steps as a brand, co-founder and track coach Bill Bowerman crafted one of the earliest performance sneakers in its history. Nicknamed the 'Moon Shoes' due to their unique waffle-pattern soles that left prints resembling those of astronauts, only around a dozen pairs were ever made. These handmade prototypes were distributed to athletes competing in the United States Track & Field Olympic Trials in Eugene, Oregon, and eventually went on to inspire the launch of Nike's iconic Waffle Trainer in 1974. Decades later, in 2019, these relics from Nike's earliest days made headlines again–this time for setting a new benchmark in the world of sneaker collecting. Sold at a Christie's auction, the Moon Shoes became the first sports sneakers to break into the auction world, helping to legitimise a niche that has only grown bigger since. Though experts initially valued the pair at around $160,000, the final bid soared to nearly three times that amount. The buyer, Canadian entrepreneur Miles Nadal, described the shoes as nothing less than 'a true piece of sports and pop culture history.' Just a few months earlier, yet another pair of Air Jordan 1s had made auction history—setting a new benchmark for the highest price ever paid for sneakers at the time (surpassing the 2019 record listed below). This particular pair, worn by Michael Jordan himself during a game in his rookie season and bearing his signature, became the center of a bidding frenzy. As the 10-day auction neared its close, the offers skyrocketed by a jaw-dropping $300,000 in the final hours, ultimately selling for an astonishing $560,000. On April 12, 2013, Kobe Bryant etched his name into sports legend with one of the grittiest performances of his career. Midway through a game against the Golden State Warriors, he tore his Achilles tendon–yet remarkably, he stayed on the floor, scored a total of 32 points, and even sank two crucial free throws while barely able to stand. It was a defining moment of his relentless 'Mamba Mentality'. So, it came as no shock when, in February 2025, the sneakers he wore during that iconic night–drenched in Lakers purple and gold–fetched a jaw-dropping price at Sotheby's, soaring past the half-a-million-dollar mark. In August 2020, riding the wave of The Last Dance frenzy, a pair of game-worn Air Jordan 1s made headlines after selling for over $500,000 at a Christie's auction. The shoes, worn by Michael Jordan during an exhibition game in Italy, were expected to hit around $850,000 but still drew massive attention. What set this pair apart? A piece of shattered glass lodged in the sole–reportedly from the very backboard Jordan broke with a dunk during that game. (Not to be confused with the later 'Shattered Backboard' sneakers.) That same auction also saw another pair, worn during the 1992 Olympic gold medal match, go for more than $100,000. After Game 5 of the 1998 NBA Finals, Utah Jazz ball boy Preston Truman received an unforgettable gift: the sneakers Michael Jordan wore during his legendary 'Flu Game' performance. Battling food poisoning, Jordan led the Bulls to victory in what became one of the most iconic games of his career. In 2020, capitalizing on the buzz from The Last Dance documentary and renewed interest in Air Jordans, Truman sold the black-and-red Air Jordan 12s to Grey Flannel Auctions for just over $200,000. By 2023, the same pair fetched a staggering $1.38 million at auction. However, the story took a twist–Truman later sued the auction house, alleging he was pressured into the original sale. That legal battle is still unfolding, but one thing's certain: few sneakers carry the weight of basketball history quite like these. When a pair of Nike Air Ships worn by Michael Jordan sold for nearly $1.5 million at Sotheby's in late 2021, they briefly held the title of the most expensive sneakers ever and still rank among the priciest sports memorabilia in history. Worn during Jordan's fifth NBA game in 1984, the Air Ships are legendary–not just for their rarity, but because they predate his iconic Air Jordan line. As the first sneakers he wore in the league, they represent a pivotal moment in both basketball and sneaker culture. It's not just Jordans dominating the luxury sneaker scene. In spring 2021, Sotheby's made headlines again with the sale of a one-of-a-kind pair of Nike Air Yeezy prototypes – the very pair Kanye West wore during his 2008 Grammy performance. The price was over $1 million, marking the first time sneakers crossed the million-dollar mark. The historic purchase was made by investment platform RARES. Its founder, Gerome Sapp, described the move as a way to make sneaker culture more accessible and financially empowering for the communities that built it – calling the Yeezys 'a piece of history.' Los Angeles-based conceptual artist Matt Senna is known for turning iconic sneakers into resin sculptures, typically sold in limited runs for around $450. But in 2020, he pushed the envelope by creating a one-of-a-kind Air Jordan 10 entirely out of 24-karat gold. Commissioned by none other than Drake, the shoes aren't wearable–each weighs about 100 pounds–but they earn a spot on this list purely for their bold, over-the-top brilliance. After ESPN's The Last Dance reignited global fascination with Michael Jordan in 2020, demand for sneakers tied to his legendary final season soared. In a landmark Sotheby's sale last year, a pair of Air Jordan 13s–worn by MJ during Game 6 of the 1998 NBA Finals–sold for a jaw-dropping $2.2 million. The iconic 'Bred' colorway sneakers, still in impressive shape despite their game-worn status, became one of the most expensive sports shoes ever sold–proving once again that when it comes to sports memorabilia, Jordan reigns supreme. Earlier this year, Sotheby's made sneaker history by selling the 'Dynasty Collection' for a record-breaking $8 million–the highest sneaker sale in the auction house's history. The collection featured eight individual sneakers, each worn by Michael Jordan during the NBA Finals across eight different seasons. The origin of this unique collection dates back to 1991, when Bulls PR officer Tim Hallam asked Jordan for one of his game-worn shoes–a tradition MJ continued after every Finals series. These are the unmatched sneakers he kept. What made the sale even more remarkable? None of the shoes came as pairs. The lot was accompanied by signed photos of Jordan–wearing just one sneaker–after each championship win, captured by photographer Bill Smith. Source: GQ
Yahoo
26-04-2025
- Sport
- Yahoo
Nike Is Suddenly Selling Air Jordan 11 Shoes Again, and They're Going Fast
The Arena Media Brands, LLC and respective content providers may receive compensation for some links to products and services on this website. It's one of the most popular Air Jordan shoes of all time, and it's suddenly available for purchase again directly from Nike. Nike is selling Air Jordan 11 Retro "Legend Blue" Men's Shoes for $230. The shoes are a surprise drop by Nike, and they're likely to sell out quickly. Available sizes (at time of publication) range from men's seven to 18 and women's 8.5 to 19.5, but not every size is available. Nike says, "Let's cut to the chase—the AJ11 is all-time. MJ won 72 games and a title while wearing 'em. Now, the icon returns in classic colors. From its slick patent leather mudguard to the frosted outsole, this Tinker Hatfield design brings the off-court allure. And for the final touch? Full-length Air cushioning is the cherry on top (er, bottom)." Buyers have rated these Air Jordan 11 shoes 4.9 stars out of five. "Love these stylish and clean retro 11 Colombias," says a happy Nike shopper. "And I thought Air Jordan 1s were the best! Take one look at these shoes, and you would say that it's a work of art: patented leather, aerodynamic soles, and a clean color ways define this re-issued classic. I just bought my first Air Jordan 1s recently, but this shoe is definitely a design upgrade!" says another. Nike offers free shipping on orders of $75 or more. Nike members get free shipping on orders of $50 or more and free 60-day returns.
Yahoo
17-04-2025
- Entertainment
- Yahoo
Steve Nash Admits He 'Wanted To Be Black' Growing Up, Praises Hip-Hop Culture
Former NBA star Steve Nash has made the surprising revelation that he once wished he was born Black, pointing to his desire to embody and encapsulate the confidence and skill of his favorite athletes and entertainers. Advertisement On a recent episode of Mind the Game, LeBron James' new podcast, the two-time NBA MVP opened up about the deep influence Hip-Hop and urban culture had on his formative years. For the Hall of Famer, who grew up in Canada, it wasn't just basketball that captivated him—it was the entire world that came with it. Steve Nash is introduced to the new Phoenix Suns Ring of Honor during the NBA game against the Utah Jazz at Footprint Center on October 28, 2023 in Phoenix, Arizona. The Suns defeated the Jazz 126-104. 'Started playing basketball, fell in love with it,' Nash recalled, describing his early infatuation with the sport and the culture that surrounded it. 'Like the first Air Jordan 1s, the Spike Lee commercials, right when I was in the eighth grade, when I started playing. I was like, this world's amazing.' Advertisement Now 51, Nash reflected on how the excellence and artistry of Black athletes and entertainers shaped not only his game but his sense of identity. Head coach Steve Nash of the Brooklyn Nets looks on in the first half against the Indiana Pacers at Barclays Center on October 29, 2022 in the Brooklyn borough of New York City. 'Let's also just be real,' he said. 'I wanted to be Black. All of the best players in the world were Black, all the best rappers, you know. So I'm trying to emulate anyone who had something about them.' Nash's honesty struck a chord, shedding light on how urban culture provided a foundation for his creativity on the court. Drafted by the Phoenix Suns in the first round of the 1996 NBA Draft, Nash would later be traded to the Dallas Mavericks, teaming up with Dirk Nowitzki to form one of the superior tandems in the league. Steve Nash #13 of the Phoenix Suns waves to fans as he walks off the court following the NBA game against the San Antonio Spurs at US Airways Center on April 25, 2012 in Phoenix, Arizona. The Spurs defeated the Suns 110-106. After rejoining the Phoenix Suns, with whom he enjoyed his prime years in the league, in 2004, Nash would also spend a few seasons with the Los Angeles Lakers before calling it quits in 2015. Advertisement Inducted into the Naismith Memorial Basketball Hall of Fame in 2018, Nash averaged 14.3 points and 8.5 assists across a storied career. But beyond the numbers, his journey reveals how culture—particularly Black culture—can inspire and shape greatness, even from afar. Watch Steve Nash's Mind the Game interview below. More from Sign up for Vibe's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
Yahoo
02-04-2025
- Entertainment
- Yahoo
Here's a First Look at Union and Fragment Design's Highly Anticipated Air Jordan 1 Collab
After it was confirmed by Union owner Chris Gibbs in a February interview, a first look at the Los Angeles retailer's three-way collaboration with Fragment Design and Jordan Brand has surfaced. Sure to be one of the more coveted sneaker designs of the year, the Fragment Design x Union x Air Jordan 1 High blends the best of both worlds from each brand's respective collaboration on the silhouette. The Hiroshi Fujiwara-led Fragment Design is represented through the white, black and royal blue colorway as well as its signature lightning bolt logo stamp near the heel. At the rubber midsole, Fragment Design's tooling code detailing calls out both Fujiwara and Gibbs. More from Footwear News First Look: Michael Jordan's 'Shattered Backboard' Air Jordan Returns for Its 10th Anniversary First Look: Flower Mountain and Universal Works' Floral-Filled Collaboration For its part, Union has contributed elements from its Air Jordan 1 collaborations including zig-zag stitching at the ankle and tongue, a deconstructed tongue design and the addition of a woven tag reading 'Union' instead of the usual 'UN/LA.' Somewhat surprisingly, the colorway does not feature mismatched portions like most of Union's other Air Jordan 1s. 'We have the Fragment Design collaboration that's coming later,' Gibbs confirmed in February. Union's Jordan Brand partnership began in 2018 with the launch of a two-sneaker Air Jordan 1 High collection which featured the first appearance of the store's mash-up concept. The duo then issued a follow-up 'I'm Back' colorway in February. As for Fragment Design, 2014 Air Jordan 1 High collaboration was the beginning of a long-term partnership that has included coveted projects with Travis Scott. While the Fragment Design x Union x Air Jordan 1 High is confirmed to be released soon, some of the specifics remain undetermined. While the pair has previously been rumored to release in 2025, the midsole text indicates the collaboration could be destined for a spring 2026 launch. Retail pricing has not been confirmed. Best of Footwear News Allen Iverson's Reebok Deal: The Details of His Lifetime Contract NBA All-Star Weekend's Most Iconic Sneakers of All Time Super Bowl Halftime Show Shoes Through the Years: From Michael Jackson's Loafers to Rihanna's MM6 Maison Margiela x Salomon Sneakers
