The role of Jordan Brand within the group has been growing in recent years and currently its revenues already represent 11.5% of Nike’s total turnover. A figure that increases every year and that in 2022 was 7% higher than that of 2021, when the brand had a turnover of 4,780 million dollars. If compared to the activity generated in 2019 – pre-pandemic period – the turnover of the association between the former Chicago Bulls and Nike increased by more than 63%.
“The momentum with which the Jordan Brand has grown has been unstoppable, hand in hand with some of the best promises in the world of sports and with iconic products around the world. Since fiscal 2020, sales in the women’s category, Jordan Women’s, have tripled, regions of activity have grown by more than 60%, and business in the apparel and accessories category is up 50%. With revenue of more than $5 billion, this is the best year for the Jordan Brand in its entire history,” said John Donahoe, Nike Executive Chairman.
Such is the boom experienced by the brand that it already exceeds in income all the technical categories in which Nike has been the market leader, such as running, basketball or soccer; the two team disciplines moved about 1,690 million dollars each, for the 3,987 million items to run. In 2022, the swoosh company announced that revenue from Jordan Brand has surpassed that from the Nike Kid’s category, which in 2022 was $4.874 million.
Such is the success of its alliance with Michael Jordan, that the American multinational is even using this brand to launch shoes named after other players, such as Luka Doncic. Thus, the Slovenian player has just launched his first sneakers, the Jordan Luka 1.
In fact, Nike has placed the Jordan Brand at the center of its commitment to technological innovation. The company introduced the Iso Plate system to the Jordan Luka 1, which secures the foot from the back to the front and surrounds the forefoot, as well as Formula 23 foam for faster side-to-side movement. The multinational intends to apply this system to all the shoes in this division, including the next Air Jordan model launched on the market.
The agreement between Jordan and Nike consists of the transfer of its image, in addition to having its separate product line, under the ‘Air Jordan’ brand, whose star product is basketball shoes. The fee charged by the former player for this alliance is unknown, but it is one of the mainstays of his fortune and one of the reasons why he is one of the few athletes who has exceeded 1,000 million dollars in income throughout his career. his career.
Source: Ambito
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