The Swoosh and Jumpman have dominated the sportswear market for quite a while, but as with time, things simply change.
According to Business Insider, Morgan Stanley analysts wrote that Jordan’s performance was “much worse than expected” in a note about Foot Locker, which continued, “The risk is this is a sign Nike has the previously unthinkable ‘brand problem’ with its Jordan Brand.”
The rise of adidas has certainly impacted the sales of both Nike and Jordan, as current trends are essentially inclined towards low-top lifestyle silhouettes such as the adidas Superstar, Yeezy models and other sleek variations, compared to the chunkier aesthetic of basketball shoes that do not complement skinny jeans or joggers.
In a call with investors on August 18, Foot Locker CEO Dick Johnson said “The sell-throughs of certain Jordan models slowed considerably compared to historical rates” in North America.
However, Nike plans and continues to offer more Jordans, including re-releases of retros in order to alleviate the issue, although demand for the brand has dropped and may continue to erode the value of Jordan, according to Josh Luber, CEO of the sneaker resale platform StockX.
Has His Airness been dethroned? Share your thoughts below.
In case you missed it, Jordan Brand officially unveiled the Air Jordan 32.