For all the sneakerheads out there, you may have heard of the “Eminem x Carhartt x Air Jordan 4 ‘Black Chrome’ sneaker or
maybe the “Travis Scott x Dunk Low Premium ‘Cactus Jack’. If you have never heard of these shoes, you can find them on popular shoe websites such as GOAT, or StockX for up to $25,000. You may be wondering, “Who in their right mind would try to sell these sneakers for this much, let alone thinking people would purchase them at that price?” Or maybe, “It doesn’t make sense, its not right.” Well it actually does make sense in the ways of the market. Selling these shoes at this price is a market tool, to keep themselves relevant.
Michael Jordan x Nike “Air Jordan”
It starts with the big brand, Nike, who has taken in a ton celebrities in the past. It then turns over to Michael Jordan, another link between brand and celebrity, who had created his name in the brand of sneakers “Air Jordan.” This very example links back to how shoes that include Eminem, or Travis’s names, will catch more people's attention. In this case, their fans may be brought in, see their name or maybe the Nike brand if it’s familiar to them, and get thrown off by the price. So they don’t buy the shoes, but now they are interested in what Jordan's are because they may have never heard of them. Then they are instantly involved in the market and at that point are influenced to buy and wear Jordan’s themselves.
The brand wanted to become a household name just like Jordan did with Nike. Michael Jordan made it a part of his whole brand. Travis Scott collaborated with Nike to increase the reach of his brand. He has his own company called Cactus Jack,” which the shoes are incorporated in. It expands his reach beyond his main career which is music, which is fashion.
Travis Scott’s “Cactus Jack”
There is more to a pair of $25,000 shoes than just the price point. The reasons include increasing the market reach of the company they collaborate with, increasing the brand of the collaborator, expanding their brand outside their main career.
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