Rashid Umar is an online media professional who specializes in web content production, social media marketing, and search engine optimization. You can connect with Rashid via social media or on his personal website at www.rashidumar.com.
As the economy gets worse, inflation continues to… well, inflate.
According to The Wall Street Journal, Nike is set to sell the X version of the Lebron James shoe franchise — one that has motion sensors in the to track various metrics including how high the player jumps — at the retail price of $315.
Despite the fact that the economy has struggled during the last five years or so, Nike has been able to maintain a high volume of sales of its basketball shoes.
According to ESPN, SportsOneSource reported last month that sales of sneakers that retail for more than $100 were up 30 percent on the year and sales of basketball shoes that cost more than $100 were up 50 percent. Between the Nike, Jordan and Converse brands, Nike owns roughly 95 percent of the basketball shoe market in the United States.
Following a season that saw him win his first NBA championship and another Gold Medal during this summer’s Olympics, Lebron James can boast the notion that it’s good to be “King”.
Written by Rashid Umar