Nike sold 25 pairs a second in Q1, says analyst; Auto-lacing Nike Mag sneakers fetch $135,200 a pair in HK auction
Adidas may be considered as the sporting brand of the year with its rising stock value but Nike dominates the athletic shoe race so far based on sales, according to market trends analyst firm The NPD Group.
Sports industry analyst Matt Powell claimed that based on Nike’s US$9.1 billion (AU$11.8 billion) revenue in the first quarter ending Aug. 31, the sporting goods company is selling at least 25 pairs of shoes a second across North America.
“Nike did US$9.1 billion (AU$11.8 billion) in Q1. That’s US$700 million (AU$910 million) per week, $100 million (AU$130 million) per day, US$4 million (AU$5.2 million) per hour, US$66,000 (AU$85,800) per minute; and US$1,000 (AU$1,300) or 25 pairs a second,” he posted on Twitter, which was retweeted by Heidi Burgett, the PR director at Nike.
Nike did $9.1 billion in Q1. That's $700 million per week; $100 Million per day; $4 million per hour; $66K Minute; $1K (25 pairs) a second
— Matt Powell (@NPDMattPowell) October 11, 2016
While tag price varies across different shoe designs, affordability and luxury are attributed to the Nike brand.
Nike’s most expensive pair could be the limited-edition auto-tying Nike Mag shoes inspired by the 1989 sci-fi film “Back to the Future Part II,” where actor Michael Fox donned a auto-tying pair of Nike shoes.
A pair of Nike Mag shoes reportedly sold for US$104,000 (AU$135,200) in a recent auction in Hong Kong.
According to Dragon8 auction firm, the Nike Mag shoes sold was the most expensive pair of sneakers auctioned off worldwide.
Just set a new WORLD RECORD for the most expensive pair of sneakers ever at auction Worldwide!!! #nikemag @Nike ! Sold them for US$104k!!!
— Dragon8 Auctions (@Dragon8Auctions) October 11, 2016
Earlier, Nike launched a lottery to raise funds for Parkinson’s disease research under the Michael J. Fox Foundation. (Read: Nike lottery: how to get auto-lacing HyperAdapt 1.0 for only $13)
HyperAdapt 1.0 will be available in the U.S. at select Nike retail locations. Appointments to experience & purchase begin 11.28.16. pic.twitter.com/t3YVLa8Rsl
— Heidi Burgett (@heidiburgett) September 20, 2016
On Nov. 28, Nike’s first commercially produced self-tying sneakers, HyperAdapt 1.0, will hit select Nike Stores in North America. Equipped with a pressure sensor in the sole, HyperAdapt 1.0 shoes’ laces will automatically tighten once the wearer’s foot is inside. (Read: Nike’s self-lacing sneakers to hit US stores in November: HyperAdapt 1.0 release date, price, specs announced)
In 2011, Nike and the Michael J. Fox Foundation for Parkinson’s Research have raised US$10 million (AU$13 million) when the first batch of Nike Mag shoes were auctioned off within only 10 days.
