Word: sneakers
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Dates: during 2000-2009
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...years, ridiculously priced brand-name shoes have dominated athletic footwear: LeBron James' new shoe, from Nike, costs $140; the latest Air Jordans rise to $175. In fact, kids have been killed for the latest "cool" sneaker. But the Starburys, sold exclusively at Steve & Barry's, cost just $14.98, and consumers have been scooping them up like shrimp at a buffet. In the two months after their August 2006 debut, Steve & Barry's sold over 3 million pairs. And the cheap-shoe love has lasted. "C'mon, this is the best thing that has happened in a long time," says Curtis...
...looking for a way into athletic footwear when it got word that Marbury also wanted to market an inexpensive shoe. The privately held company had 120 outlets before the Starburys launched; it will have 270 by year-end. Its president, Andy Todd, admits margins are "tight" on a $15 sneaker, but the company controls costs by spending little on advertising, for example--letting the stars generate the buzz...
...anyplace around the world, and we were noticing that people were running with music," says Edwards. "You kind of go, Aha!" At a team meeting, a designer presented a sketch of an iPod in a Nike shoe. Another "aha!" moment. Sure, you can't place an iPod in a sneaker, but what if that sensor tucked beneath the shoe could talk to the iPod and reveal the data while runners listened to their music? In late 2004, Nike pitched the idea to Apple executives, who bit. They saw that Nike cared deeply about technological innovation, and a partnership was born...
This booming digital community has changed the way Nike thinks about innovation. To Nike, you're no longer just buying a sneaker. You're joining a global jogging club--and keeping up with fellow runners will, the company hopes, motivate you to buy more Nikes. "In the past, the product was the end point of the consumer experience," says Olander. "Now it's the starting point...
...advertised by the Law School’s Committee on Sports and Entertainment Law as the “Godfather of Basketball,” took the crowd from his humble beginnings just outside of Pittsburgh in Trafford, Pa. to his stints as an executive at all three major sneaker companies (NIKE, adidas, and Reebok) to his recent retirement from the shoe and basketball camp industries.Vaccaro’s journey in the basketball world, which started in 1964 when he created the Dapper Dan Roundball Classic, the first-ever national high school all-star tournament, would turn him into...