Nike's $300 Shoe Has the Marketing Built Right In

How do you market a pair of $300-plus sneakers? If you're Nike , you just do it quietly. And by acting like you're not marketing them at all. Nike found itself embroiled in the middle of another controversy this week when news surfaced that it's planning its most-expensive sneaker ever: the LeBron X. A high-end version of LeBron James' signature shoe embedded with Nike + technology will cost $315, The Wall Street Journal reported. A price point of $300 or more for a single pair of kicks has been the equivalent of the third rail in the $2.8 billion U.S. basketball shoes business: rarely approached, potentially lethal if crossed. Once the news got out, Nike was immediately ripped for pushing more overpriced sneakers during an economic recession. Marc Morial of the National Urban League called on parents not to waste their money on an "empty status symbol" and to use it on books instead. "To release such an outrageously overpriced product while the nation is struggling to overcome an unemployment crisis is insensitive at best," said Mr. Morial in a statement. The Swoosh is no stranger to controversy. Or at rolling out marquee sneakers that spark near riots at retail. Let's look at how Nike has marketed the LeBron X so far: "They won't do any advertising for this shoe. They don't need to," Mr. Powell said. "This is not so much about being commercial as it is about creating hype and buzz about the brand."

Nike's $300 Shoe Has the Marketing Built Right In

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