The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Nike’s Jordan brand, created in collaboration with NBA All-Star Michael Jordan, is set to open its first dedicated retail flagship in Milan later this month.
Until now, Jordan products including sneakers, tracksuits and backpacks have been only available in Nike stores, on Nike.com or through the retailer’s SNKRS app. There have also been previous stores under the Jordan branding in Dubai and Manila, though this is the first “World of Flight” flagship, described by the brand as a new retail concept.
The 360-square-metre store is set to open on Dec. 16, and will be located on the city’s Via Torino, a popular retail destination in the Italian capital. The retail concept, which will also host events, was designed to be “at the forefront of streetwear and basketball culture,” according to a statement shared by the company.
Nike may be leveraging physical retail as a way to drive sales of Jordan products after demand for items like sneakers began to cool off this year after peaking during the pandemic. Market analysts anticipate a potential slowdown in sales for sportswear brand, as rising inflation and cost of living affect discretionary spending.
ADVERTISEMENT
Jordan is the gem in Nike’s crown, accounting for just over 10 percent of the sportswear giant’s overall revenue, and is pivotal to its cultural cachet in basketball and streetwear, thanks to coveted products such as the Air Jordan sneaker line. Jordan brand sales have more than doubled since 2015, topping $5.1 billion in the fiscal year ending in May.
The brand grew out of a collaboration between Nike and NBA Hall of Famer Michael Jordan in 1984, when Nike produced a pair of sneakers for the then-Chicago Bulls player to wear during games in his rookie season. Released for general sale the following year, the model later became known as the Air Jordan 1, one of the franchise’s most in-demand sneakers.
Editor’s note: This article was amended on 6 December, 2022, to include mention of pre-existing stores under the Jordan branding.
Luxury brands may have pivoted away from sneakers, puffer jackets and hoodies, but new brands like Corteiz and Free The Youth are making the case for street culture’s enduring relevance in fashion.
With the Dunk past its prime, Nike is looking for its next hype sneaker. It’s banking on the AJ2, the forgotten child of the Jordan family.
The value of hyped shoes on the aftermarket has fallen in recent months, raising questions about whether it’s a momentary stumble or a sign that the category is losing steam.
Daniel-Yaw Miller is Senior Editorial Associate at The Business of Fashion. He is based in London and covers menswear, streetwear and sport.
The companies agreed to cap credit-card swipe fees in one of the most significant antitrust settlements ever, following a legal fight that spanned almost two decades.
In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.
The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.
The performance coach and Allbirds’ co-founder discuss the transformative power of togetherness in fostering a culture of excellence.