Jordan was the strongest performer of Nike’s divisions with a 6% sales gain as per the fourth-quarter earnings report. The multi-billion company decided to open a premium store, ‘Jordan World of Flight’, for the ardent fans of the Chicago Bulls legend in Milan in 2022. And the craze of Michael Jordan has helped them build another such store in Mexico.
The store opens publically tomorrow and it is Nike’s largest retail space in Latin America and its only dual-brand presence. This will be the 5th overseas store, A second store, Jordan World of Flight Shibuya, opened in Tokyo last March. A third World of Flight store opened in Seoul, South Korea last June. In March this year in Beijing’s Sanlitun district, Jordan World Of Flight Beijing was launched.
With more than 22,000 square feet across three floors, it provides a unique shopping experience for Michael Jordan fans. It will also benefit the Nike members to have the opportunity to participate in exclusive sports, wellness, and creativity events. It will have features of Nike and Jordan Brand’s elite athletes, clubs, collaborators, and more.
Doug Bowles, Vice President and General Manager, Latin America said, ” Nike & Jordan World of Flight Mexico City enables us to serve and celebrate athletes across Latin America and their passion for sport and culture like never before.” He continued, “Our exclusive products and member-only events from both brands are an invitation for the Latino community to join the Nike family.”
The premier Jordan World of Flight space will also offer a lineup of exclusive footwear drops and apparel. Alongside the Jordan Workshop experience, which would allow fans to customize the Air Jordan 1, Diamond Short, and other styles. While the overall numbers paint a good picture, there was an interesting sale has been making headlines lately.
Although sneaker culture may be changing, Jordan Brand revenue keeps climbing
Matthew Friend, Nike CFO, said “Our fourth-quarter results highlighted challenges that have led us to update our fiscal ’25 outlook,” in a statement. In comparison with other divisions Men’s division gained only 1% in sales while the Jordan brand growth was 6% which helped it break the 7 Billion mark.
Even though the professional basketball shoe market has been down, retro-style shoes have made up for the decline. Just recently, a banned pair of Nike’s Air Jordan Black & Red 1 Shoes was sold for a whopping $325,085.
Not only that, but Michael Jordan’s six unique trainers were up for auction and they fetched over $8 million. It included Air Jordan VI (1991), VII (1992), VIII (1993), XI (1996), XII (1997), and XIV (1998) models. Thus creating a new record for game-worn trainers at auction worldwide.
In 2021 Jordan Brand hit the $4.7 Billion mark, and in 2022 it reached the $5.1 Billion mark. The $6.6 was the 2023 figure and the growth did not stop despite of Nike facing challenges. With the $7 Billion mark and the new World of Flight set to launch in Mexico, the brand is planning to launch its first store in the US.
Stay tuned for more such updates, and to follow what Shaq’s ex-agent, Leonard Armato, has to say about the infamous Shaq-Kobe feud, Caitlin Clark’s Olympic snub, and more, watch this video.