The ULTIMZ Journal’s exclusive chronicle by Dominique Cuvillier, a captologist and consultant specializing in prospective and marketing strategy for fashion, luxury, and eyewear, delves into Nike’s foray into the luxury market.
Just last year, a pair of Nike Air Mag Back to the Future shoes from 2016, famously worn by Marty McFly in the second installment of Back to the Future in 1989, was sold for a staggering 22,882 euros on the StockX resale platform. Nike dominated the Top 10 most expensive resale sneakers on StockX at that time, holding nine spots with its Air Jordan models. In comparison, Adidas and its 2017 Human Race NMD Pharrel x Chanel collaboration reached a “mere” price of 7,246 euros. These exorbitant prices reflect the allure of vintage luxury products, with some iconic items commanding prices comparable to highly sought-after collector’s art pieces.
The convergence between major sports equipment manufacturers and luxury brands has paved the way for limited-edition capsule collections that captivate sneakerheads and fashion enthusiasts alike. The blurring boundaries between these seemingly disparate realms fuel the creative visions of designers and marketers, resulting in an aesthetic hybridization that characterizes our current era.
As the undeniable leader in sporting goods, Nike has gradually embarked on a path of “luxurification,” as coined by Stéphane Galienni of Balistik Art. Leveraging its expertise in design and marketing, Nike has successfully expanded its reach into the luxury sector, building on its success in sports and fashion. The brand has ventured into the heart of the industry with a collaboration between Air Jordan, the epitome of American cool, and Dior, a legendary French luxury brand. This collaboration echoes the longstanding partnership between Apple and Hermès with the Apple Watch, demonstrating Nike’s foray into the luxury market.
While Nike excels in sports technology, it also possesses a deep understanding of the luxury market. The brand recognizes that it is fundamentally a “pure and hardcore” sports brand that heavily invests in research and development to provide athletes with cutting-edge equipment. One of Nike’s recent innovations, the AlphaFly sneakers, an optimized version of the Vaporfly Next%, has been breaking records among runners. However, its exceptional performance has led World Athletics (formerly the International Association of Athletics Federations) to raise concerns about the shoes’ potential for “technological doping.” Featuring three carbon plates and foam capsules for enhanced lightness, cushioning, and speed, these sneakers showcase Nike’s commitment to competition, akin to haute couture for Dior and saddlery for Hermès. It is this dedication to excellence and authentic expertise that solidifies Nike’s position as the global leader and potentially positions the brand as a reliable player in the luxury market, with a motto of “Back to the Future.”
Useful links:
1. Nike Official Website
2. Dior Official Website
