Tonight Michael Jordan was inducted into the Hall of Fame. Since his days playing at Chapel Hill, Jordan unquestionably became one of the best and most entertaining athletes to have ever lived. But now, #23 deserves acknowledgement for another accomplishment: his Nike brand Jordan, recently topped $1 billion in annual revenue for the first time, according to Darren Rovell’s article this morning on cnbc.com:(http://www.cnbc.com/id/32798277/)
It’s not surprising. Walk into an athletic apparel store or basketball gym anywhere in the world and you will see the infamous Jordan logo plastered on everything from basketball shoes to t-shirts, gym bags, and socks.
Air Jordan logo (http://tinyurl.com/mwbed3)
The Jordan brand now makes up roughly 5 percent of Nike’s overall revenues. It has a 10.8 share of the overall US shoe market (making it the second largest brand in the country), and three out of every four pairs of basketball shoes sold in the United States are Jordans, Rovell printed today.
When Michael Jordan was still playing on NBA courts, everyone wanted to “be like Mike.” Everyone still wants to ”be like Mike.” How could you not? He was – and remains – untouchable; a true powerhouse in every sense of the word. But what made him so likeable is the fact that he was always open about the hard work and struggles he had to overcome to succeed. The fact that he got cut from his high school basketball team and went on to become “His Airness” makes him living proof that if you work hard, you will achieve.
While many athletes are considered heroes and role models, it is rare that a figure can attract such a wide range of people for such a long span of time; and it’s even rarer that this attraction is accurately reflected in the marketplace.
But Michael Jordan did it. He created a magic on and off the court that redefined what it was to be an athlete in the locker room and in the conference room.
After tonight, he has definitively succeeded at both.
Great article. Do you think Lebron James or Kobe Bryant could ever become a name brand like Jordan? Why or Why not?
Lebron, maybe; time will have to tell. Kobe, no way. Tiger Woods is the only athlete who is close, as he is to reach $1 billion next year. However, I don’t think this compares to Michael Jordan’s billion dollar mark with the Nike Jordan brand, as Woods’ billion would be a compilation of his many endeavors (i.e. Gatorade, Nike, Buick, and TAGHeuer).