These sneakers revolutionized the footwear market, sports marketing, and the lives of NBA stars.
according to Forbes Magazinethe wealth he accumulated Michael Jordan By 2023 it will be nothing more than US$3 billion. Taking into account his financial figures, this number ranks him 379th among the most powerful people in the world.
Now 60 years old, he lives in Florida, is married to former model Yvette Prieto, has five children, and owns numerous properties. On a sporting level, he is considered the most important basketball player of all time. By his count, he has won the title six times. NBAand two gold medals at the 1984 Los Angeles Olympics and the 1982 Barcelona Olympics, when he was dream team.
But what drives the wealth he amassed? Michael Jordan Year by year?Basically his image, which enables him to date, so Nike Build an empire with celebrities Air Jordan.
Nike and Jordan collaboration
After many negotiations, Nike and Michael Jordan They signed an agreement with the company and went public Jordan I April 1, 1985.As revealed in the documentary Netflix, last danceJordan does not have much confidence Nike, because the brand is still very young in the market. But it was his mother, Delores Jordan, who influenced him to sign the most important deal of his entire career. “He told me: ‘You’re going to listen to them. Even if you don’t like it, you’re going to listen to them.'”Jordan himself recalled.
Then, the executive NikeSonny Vaccaro confirms that yes, it’s the only way to get there Michael Jordan The process of reaching an agreement was complicated at first because it was through his family. “Jordan was very clear that he didn’t want to work with Nike. We wanted to convince him that this still young company was capable of doing something that had never been done before. After that first meeting, it was clear to me that the way to contact him was Through his family. “Michael only listened to his family, especially his mother. “he pointed out.
Indeed. Although I am not that determined, Jordan A deal was struck that allowed him to win the championship 5% of annual sales. They were released on April 1, 1985, shortly after Jordan made his NBA debut. NBA.At the beginning, the first batch of 100,000 pairs sold sold for almost USDD 65. As Jordan grew as an athlete, prices increased, with no less than 1.5 million pairs sold that year.
“When we signed the agreement, Nike expected to sell $3 million worth of Air Jordans by the end of the fourth year. In the first year, we sold $26 million.””, explained Peter Falk, who was also Jordan’s agent in the documentary “The Last Dance.”
How do they function in the market?
As shoe designer Peter Moore explains in his book Peter Moore: Portfolioare the colors he uses. “Before, 99% of sneakers were white or black, so I decided to design a shoe that could accept colors well. The colors were red, black and white”, he insisted. It must be taken into account that both colors represent the Chicago Bulls, the team Jordan was a member of at the time.
Sports marketing revolution
Obviously, from a very early age Michael Jordan He is a man who thinks about himself and his family’s future. That’s why his deal with the athletic company was to take a percentage of every pair of shoes sold, with total revenue in the first year of $2.5 million.For example, according to the magazine gentlemansales volume last year alone Air Jordan they come USDD 5 billion, equivalent to gross profit Jordan no less than US$150 millionthis number is almost USDD He has amassed $86.7 million throughout his NBA career.
Jordan and the 1990s
The brand was so popular that he decided to open his own franchise store in 1997, selling not only sneakers but also sweatshirts, socks and more.
Some of the most requested shoes by fans are Air Jordan 11 Low Space JamBest known for appearing in Space Jam, a movie starring iconic stars NBA. Now, 25 years later, they will be available in 2024.
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