Another Day, Another Dollar

Topics: Nike, Inc., Air Jordan, Cost Pages: 2 (574 words) Published: April 17, 2013
“Another day, another dollar”. The sneakerhead lifestyle today is certainly an expensive one, and the footwear companies aren’t making it any easier – if anything they are making it even more difficult. We’ve seen increases in prices across the board on 70% of the sneakers since last year and the prices just continue to rise. CFO Don Blair, of Nike, was quoted last year saying, “As we expected, in Q3, we began to see the impact of rising input cost such as oil, cotton, and labor”. Blair was basically saying here that Nike’s price will rise across the board because of the increases in oil, transportation, and cotton. But the question at hand is this: what is the “real” reason that we’ve seen prices increase for our beloved sneakers? It can’t honestly be because of rises in input costs. Okay it most likely is the reason. We all know that everything that has risen in cost now is associated with our economy, and everything’s increased because of America’s want to keep up with productivity and their workers. But who cares? The point is that these sneaker companies, such as Nike, are being greedy. Nike wants to blossom into a $27 billion corporation by fiscal year 2015. Be ready to empty your wallets, sneakerheads. Since that statement that Blair made about seeing the impact of these input costs, we’ve witnessed changes in price at a minimum of $10. We’ve even watched new models of sneakers like LeBron’s, go up as much as $100 just because of some new technology and different materials. Remember back in 1985 when you could get a pair of Retro 1’s for only $65? Well, those times are long gone. Now that same shoe has a price tag of $110 and the materials, if anything, are even worse. Jordan Brand is releasing a Knicks inspired colorway of the Retro 1 that will retail for $140, which surpasses the OG colorway that will retail for $110. It’s absolutely crazy! Nike has even made an increase on the Durant line which was previously $95, but now retails for $115. These prices...
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