Pursuits
The Jumping Sneaker Prices Behind Nike's Boom Times
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It’s not a bad morning in Beaverton, Ore. Nike padded its stats considerably overnight, adding $7.5 billion to its value on paper after posting a dazzling financial report.
Like an athlete in the zone, even the riskiest plays are paying off for Nike. Last quarter the giant swoosh poured almost $900 million into ads and athlete sponsorships, 23 percent more than in the year-earlier period, as it tried to put its mark on the World Cup. It was a bonkers amount of money, but it also ensured Nike cleats were on Mario Götze when the German phenom swatted home the championship-winning goal in overtime.