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AIR, the movie is streaming on Amazon Prime. A must watch for the students of Marketing.
In the early 1980s, Nike was a rising star in the athletic footwear market, primarily known for its running shoes. In 1984, Nike saw an opportunity to make a significant impact in the basketball shoe market by signing a young and talented rookie named Michael Jordan, who had just entered the NBA after a successful college career at the University of North Carolina.
In 1985, Nike launched the first Air Jordan shoe, called the Air Jordan 1. Designed by Peter Moore, it was a revolutionary basketball shoe that featured innovative technology, including the iconic Air cushioning system, which provided superior comfort and support for basketball players. The Air Jordan 1 was also distinctive in its design, featuring the “Wings” logo, the Nike Swoosh, and various color schemes that were bold and unconventional for the time. #brand #logo
The Air Jordan 1 was an instant hit, capturing the attention of basketball enthusiasts and fans of Michael Jordan alike. Despite being initially banned by the NBA for not complying with uniform regulations, the shoe gained immense popularity and became a cultural symbol.
The partnership between Michael Jordan and Nike has been incredibly lucrative for both parties. The deal, initially signed in 1984, granted Michael Jordan a signature line of shoes and a percentage of the sales. As the brand grew in popularity, so did Jordan’s influence and involvement. In 1997, Nike established the Jordan Brand as a subsidiary, giving it more autonomy and a distinct identity within the company.
The financial terms of the deal between Jordan and Nike have not been publicly disclosed, but it is widely reported that Jordan’s partnership with Nike has made him one of the wealthiest athletes in history. The Air Jordan brand continues to generate billions of dollars in revenue annually, solidifying its position as one of the most successful and iconic athletic brands in the world.