JAKARTA - For most people, changing the history of sports forever is a big achievement. For Michael Jordan, that is just the tip of the iceberg.
The former Chicago Bulls star not only changed basketball but also revolutionized the world of sports marketing and built an iconic brand with his own name.
Jordan's venture into business didn't start well. Starting with shoes he didn't like and, with Nike, a brand he didn't want to sign.
Later, the Bulls player wanted to sign a contract with Adidas, but the German manufacturer was looking for something else.
"Signing Jordan is the best decision I have ever made", said Phil Knight, director of Nike.
On April 1, 1985, Nike released the red, white and black sneakers that went on to become iconic. They estimate that they will be able to sell 100,000 pairs in the first year.
Each shoe sells for $ 65, according to current exchange rates, which means around IDR 944 thousand. And they were able to exceed the target by selling more than 450 thousand pairs. This is just the beginning.
The shoe that started it all.36 years ago today, the iconic Air Jordan 1s were released for $ 65. pic.twitter.com/iUFo6Jm7US
- Chicago Bulls (@chicagobulls) April 1, 2021
Since signing with Nike in 1984, Jordan has made more than $ 1.3 billion (IDR 18.8 trillion) and more than 75 percent of NBA players wear Nike or Jordans shoes.
His Air Jordan shoes are now the best sellers in history. The company grew by 9.305 percent on the stock market between 1984 and 2003.
Since then until now, they have grown another 824 percent. Their shares have jumped 84.129 percent since the deal began.
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