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  • [Narrator] This is the Jordan 1 Retro Fragment.

  • It originally retailed for $185 in 2014.

  • But today a pair can resell for up to $2,000.

  • And this is the Yeezy Boost 350 V2 Core Black/Red,

  • which retailed at $220 in 2016 and now resells for $900.

  • The Fragment's resale value

  • more than doubles its competition.

  • These shoes were both sold in limited releases,

  • so why did Jordans become so much more expensive?

  • It all has to do with the value of the Jordan brand

  • and how it makes and markets its iconic sneakers.

  • 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.

  • [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.

  • To understand why Jordan Brand can charge more,

  • let's go all the way back to the beginning,

  • before the Jordan 1 was introduced.

  • Before 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.

  • But that wasn't the only unusual decision Nike made

  • while launching the Air Jordan brand.

  • 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.

  • Announcer: On September 15,

  • Nike created a revolutionary new basketball shoe.

  • On October 18, the NBA threw them out of the game.

  • 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.

  • Amir Ismael: It just showed that he was rebellious,

  • and it was something that people gravitated to,

  • and they wanted to wear them too.

  • It was like first sneaker that

  • really shook up sneaker culture.

  • 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.

  • [Narrator] Mike's success as a rookie

  • made a big impact on Nike's bottom line.

  • The original Jordan 1 hit stores across America

  • in March 1985, priced at $65.

  • And at the end of the year, the Air Jordan franchise

  • had made $100 million in revenue.

  • The Air Jordan 2 wasn't as successful.

  • After just 18 games in his new design,

  • Jordan suffered a season-ending broken foot.

  • Reports surfaced about Mike being unhappy

  • and looking to jump ship to Adidas.

  • The Air Jordan 3 became a crucial crossroads

  • for Jordan and Nike.

  • Enter Tinker Hatfield.

  • Today, he's known as the architect of modern sneaker design.

  • Back then, he was known

  • for innovating Nike's Air Max technology.

  • His Jordan 3 design became legendary.

  • It pioneered the first-ever mid-cut basketball sneaker,

  • included elephant-print overlays,

  • and immortalized His Airness in the Jumpman logo.

  • And Tinker incorporated his

  • Air Max technology into the sole.

  • 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.

  • [Narrator] The company's rollout of the Jordan 3

  • was equally as legendary as the design.

  • Nike's marketing team connected Jordan with Spike Lee

  • for what would become some of the most

  • memorable commercials in history.

  • 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.

  • Powell: You really saw the Jordan brand become

  • a luxury brand in the United States.

  • 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.

  • [Narrator] During all this, the price

  • of Jordans had jumped to $100,

  • significantly higher than the top basketball sneaker

  • at the time, Converse's Weapon.

  • Jordan marketed its sneakers as a luxury product,

  • to match MJ's talent and style,

  • and in the process created a cultural phenomenon,

  • bringing sports apparel into the mainstream.

  • Cohen: He was a very marketable figure,

  • with a great smile and a big hoop earring,

  • and people wanted to look like him.

  • And so you started seeing this face all over the world.

  • [Narrator] But the brand priced out kids

  • from low-income families who wanted them the most.

  • And by the '90s, Jordans were so coveted,

  • violence erupted around them.

  • Two teens were even killed for their Jordan sneakers.

  • Nevertheless, the phenomenon continued.

  • Jordans were a status symbol that couldn't be stopped.

  • Ismael: Whether you're into fashion,

  • whether you're into sports, or whether you're just

  • a fan of Michael Jordan himself,

  • you have to know about Jordan Brand,

  • you have to own something from Jordan Brand.

  • [Narrator] Hatfield continued to design

  • Jordan's signature sneakers for the next 12 years.

  • The Jordan brand became a sneaker giant,

  • and MJ became the greatest player in basketball history.

  • Their run lasted for more than a decade,

  • but that was all about to change.

  • In 2013, Adidas released new technology,

  • signed Kanye West, and started making big gains.

  • Despite increased competition, Jordan's prices stayed high.

  • That year's new Jordans retailed at $250, the highest price

  • for a new signature Jordan released at that point.

  • Retro prices jumped too.

  • A retro is a rerelease of an original shoe.

  • A Sneaker Life: $220 for these, $400 for these.

  • Cohen: This happens with every sneaker brand.

  • As they see the resale prices of their shoes go higher,

  • they want more of the pie,

  • and so they started to try and get more of the pie.

  • Ismael: When Adidas came out with a lot

  • of their more popular styles during that era,

  • it caused a lot of people to just say,

  • "I'm gonna stop buying Jordans for right now,

  • and I'm gonna focus on these newer styles

  • that are comfortable, that are cool, that are trendy."

  • [Narrator] Jordans weren't selling out

  • as fast as they had in previous years,

  • and Jordan increased supply to balance out revenues.

  • But it oversaturated the market.

  • According to Sole Collector, between September

  • and November 2017, Jordan released 30 different retros.

  • The price hikes, combined with an oversaturated market

  • and increased competition, led to

  • what Sole Collector called "Jordan Fatigue,"

  • and Adidas' market share nearly doubled.

  • Jordan Brand President Larry Miller

  • admitted that the brand had released too many shoes

  • and needed to figure out how to

  • connect to young consumers again.

  • And Nike CEO Mark Parker did just that

  • with his edit-and-amplify strategy.

  • He helped Nike R&D cut down from 350 sneaker ideas to 50.

  • This helped the company be more disciplined

  • and catch up with the speed of the sneaker market.

  • Powell: The secret sauce for Jordan over the years

  • has always been unrequited demand,

  • never having enough shoes to satisfy the market,

  • which made the kid come back on the next release

  • and hope that he would get a pair.

  • [Narrator] Jordan mounted its comeback in 2018.

  • The brand ramped up offerings for female customers,

  • and its Concord 11 Retro release

  • was its most successful shoe introduction ever,

  • according to Parker.

  • And they've been able to connect to a new generation,

  • tapping Travis Scott, Virgil Abloh, and more

  • to offer their takes on the historic designs.

  • Powell: Today you don't really need to

  • market a Jordan product,

  • and so it becomes a pull market.

  • The idea is that the product is so sensational,

  • so wanted by the consumer,

  • that it's pulling them into the store.

  • [Narrator] The brand is pulling in customers

  • like the old days, and according to Parker,

  • Jordan 1s are more coveted than ever.

  • Resale info backs that up.

  • Remember that comparison we did at the beginning?

  • It looks like Jordan is getting the balance just right

  • between nostalgia and innovation.

  • A Sneaker Life: This has to be my favorite sneaker

  • of all time.

  • This is the Air Jordan 4 White Cement.

  • Just Souled Out: The Aleali May Jordan 1 Viotech.

  • Jacques Slade: The Air Jordan 1.

  • It represents the beginning of Jordan's career.

  • Just Souled Out: I think it's interesting to see

  • how the Jordan brand continues to evolve

  • as it ventures deeper into the women and unisex market.

  • A Sneaker Life: You know, it just reminds me

  • of my childhood.

  • This is really what got me into the sneaker game.

  • Jacques Slade: It's the reason why

  • a lot of us sneakerheads exist.

  • And this Lakers colorway, man, that's just perfect.

  • Ismael: The Jordan 1 is, like, the shoe that

  • sparked sneaker culture as it is today.

  • I think that's the main shoe that created

  • some sort of frenzy or connection to shoes

  • versus "this is a cool shoe I want to wear."

  • It was something people could really connect to.

[Narrator] This is the Jordan 1 Retro Fragment.

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Why Nike Air Jordans Are So Expensive | So Expensive

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    joey joey に公開 2021 年 04 月 26 日
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