Cutting the ribbon during the opening of Nike’s Jordan-specific World of Flight store in Beijing in March.
Source: Bloomberg
Nike Bets Its China Comeback on Michael Jordan’s New $1,000 High-Tops
The brand can play to local culture and luxury consumers in a way the parent company can’t.
Cashmere ponchos, lambskin bras and $1,000 Air Jordans. A 1,000-square meter retail homage to Michael Jordan in Beijing’s trendiest neighborhood. Affiliations with China’s domestic basketball elite and limited-edition Jordan collabs with local street artists.
These are the highlights of a new push for the Jordan brand in China, one that Nike Inc. hopes will lay the foundation of a permanent comeback there. Beyond the significant economic slowdown that’s sapped sales for all the big brands, Nike’s been buffeted by rising consumer nationalism — a trend fueled by legitimately hot products from local brands like Li Ning Co. and Anta Sports Products Ltd.