Here is some interesting history and current news about the Air Jordan Brand.
A Brief History – AIR JORDAN I
Air Jordans History, The Secrets Out, In 1984, in the wake of winning a national title at the University of North Carolina and a Gold Medal at the Olympic diversions in Los Angeles, Michael Jordan was chosen third by the Chicago Bulls in the NBA Draft. That year Nike additionally marked Michael to a five-year underwriting contract worth a reported $2.5 million (or more eminences). There was at first some doubt over the heavy contract being given to a problematic promoting thing, yet MJ was fast to prove the pundits off-base.
In 1985, Nike gave Jordan and his mark line of tennis shoes and attire an extraordinary logo – obviously, this line was made to be altogether different from Nike’s past b-ball endeavors.
Originator Peter Moore was given the errand of thinking of the first Air Jordan shoe. The Air Jordan 1 offered the Nike Swoosh on the mid board and a recently composed wings logo on the upper lower leg. The primary Air Jordan was comparable in outline to other prominent Nike models discharged in the 1980s, such as, the Air Force 1, Terminator and Dunk. The Air Jordan I emphasized a Nike Air unit for heel padding, cushioned froth lower leg collars for extra assurance and a toe overlay for added lockdown.
Despite that the AJ 1 needed innovation, the colors and social awareness set the tennis shoe industry on its ear. The Air Jordan 1 made ready for vivid ball tennis shoes. It changed the way individuals took a gander at sports shoes. Amid the 1985 NBA season, Michael wore the Air Jordan 1, which retailed for $65 – at the time, the most extravagant b-ball shoe available. The AJ I Black/Red colorway was banned by the NBA in view of standards in regards to shoe colors; Jordan was fined $5,000 for each amusement he wore them (Nike happily paid, as the fines made significantly more buzz around the Air Jordan 1). MJ’s youngster crusade brought about an All-Star appearance, Rookie of the Year respects and driving the Bulls to the playoffs after a four-year unlucky deficiency. Michael wore the Air Jordan I Red/White/Black as he scored 63 focuses against the Boston Celtics in the 1986 playoffs. Despite the fact that the Bulls wound up losing to the Larry Bird-drove Celtics, Michael demonstrated that he was one of the brilliant youthful stars in the NBA.
The Big Secret?
There was no new technology in the original Air Jordan 1 that made it any different from other Nike shoes, it was pure branding and marketing genius that took the Air Jordan brand through the stratosphere.
How big is the Air Jordans Brand to Nike?
“Jordan earned an estimated $80 million last year from corporate partners Nike, Gatorade, Hanes, Upper Deck, 2K Sports, Presbyterian Healthcare and Five Star Fragrances. Other Jordan assets include six restaurants, a North Carolina car dealership, a motorsports team and his 80% stake in the Charlotte Bobcats. Jordan out-earns almost every member of the world’s highest-paid athletes 10 years after his last NBA game (Floyd Mayweather topped Forbes June 2012 list with earnings of $85 million).
The Jordan Brand, a division of Nike, is responsible for the vast majority of MJ’s earnings. Jordan partnered with Nike after being drafted by the Bulls out of North Carolina in 1984. The original five-year deal was worth $500,000 annually, plus royalties. The terms of Jordan’s current deal with Nike are a closely guarded secret, but royalties now generate more than $60 million annually for MJ, according to sources.
Nearly 30 years later, the brand is still a marketing juggernaut. It controlled 58% of the U.S. basketball shoe market in 2012, according to research firm SportsOneSource. The Jordan Brand’s parent, Nike, was second with a 34% share, while Adidas (5.5%), Reebok (1.6%) and Under Armour (0.6%) divvied up the leftovers.” You can read the entire article here
$60 million annually for MJ, according to sources.