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Search resuls for: "Matthew Kish"


25 mentions found


☆ Michael Jordan's championship sneakers sold for a record-breaking $8m
  + stars: | 2024-02-03 | by ( Rebecca Rommen | ) www.businessinsider.com   time to read: +2 min
A set of Michael Jordan's championship sneakers was sold for a record-breaking $8m, the BBC reports. The six individual sneakers were all worn by Jordan during the game-clinching NBA finals in the 1990s. During his career, the basketball superstar went to the NBA Finals six times and won each time. The set of winning sneakers include Air Jordan VI (1991), Air Jordan VII (1992), Air Jordan VIII (1993), Air Jordan XI (1996), Air Jordan XII (1997), and Air Jordan XIV (1998). The photos, taken by Bill Smith, were taken after the 1992, 1993, 1996, and 1998 NBA Finals.
Persons: Michael Jordan's, Jordan, Jordan VI, Jordan VII, Air Jordan VIII, Air Jordan XII, Air Jordan XIV, Bill Smith, Brahm Wachter, Matthew Kish, Sotheby's, Michael Jordan, He's Organizations: BBC, NBA, Air, Forbes, of Fame, Jersey, Charlotte Hornets, Business Locations: Dubai
☆ The rise and fall of Allbirds: The sneaker brand's plan for redemption might just be working
  + stars: | 2023-08-11 | by ( Matthew Kish | Ben Tobin | Jennifer Ortakales Dawkins | ) www.businessinsider.com   time to read: 1 min
In 2016, Allbirds received B Corp certification, a designation given to companies that work to advance environmental and social causes, and shareholder concerns. AllbirdsFor Allbirds, the designation codified, "how we take into account the impact our actions have on all of our stakeholders, including the environment, our flock of employees, communities, consumers, and investors." Sources: Harvard Business Review, Allbirds S-1
Persons: Allbirds Organizations: Corp, Harvard Business
☆ Nike Chief Design Officer tells college grads to embrace what makes you different. 'I view my dyslexia as a gift to see the world differently.'
  + stars: | 2023-06-02 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +3 min
Nike Chief Design Officer John Hoke recently gave a commencement address at Penn State. Nike wrote him back. "Through my education at Penn State, I came to better understand myself and realize, in fact, that my superpower became wonder," Hoke said. I did not expect an answer, but surprisingly, Nike wrote me back. "I have that letter framed in my office in Beaverton, and it still makes me smile," he said.
Persons: John Hoke, Hoke, Phil Knight, —, John Hoke III, Knight, I've Organizations: Nike, Penn State, Service, Penn State's College of Arts and Architecture, Nike Air Locations: Beaverton
☆ Nike is shuffling executives and searching for its next 'breakthrough innovation' as unwanted Air Maxes and Air Jordans pile up
  + stars: | 2023-05-26 | by ( Matthew Kish | Danni Santana | ) www.businessinsider.com   time to read: +5 min
Once-coveted Air Jordans and Air Maxes are now sitting on shelves, with some retro Jordans selling below retail on the secondary market. "Air Max is Becoming Air Min," reads the headline of a report this week from Williams Trading analyst Sam Poser, who downgraded Nike's stock to sell. While numerous analysts remain bullish on Nike, Poser is among those who say Nike needs to ramp up innovation. At its 2017 investor day, Nike announced the Air Max 270. "Nike has lost many senior people throughout the entire company with, now necessary, historical institutional knowledge of Nike," Poser wrote.
☆ Nike CEO praises Disney's Bob Iger, saying he's 'doing a great job' in his feud with Florida's Ron DeSantis
  + stars: | 2023-05-23 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +3 min
Nike CEO John Donahoe said Tuesday that Disney CEO Bob Iger is "doing a great job." "I think Bob's doing a great job at this," Donahoe said of Iger. Donahoe's remarks are the latest chapter in a yearlong feud that started in early 2022 when then-Disney CEO Bob Chapek objected to the DeSantis administration's "Don't Say Gay" bill. Iger, who returned as Disney CEO in November, has continued to battle with DeSantis. Disney and Nike have long supported each other and shared connective tissue.
☆ Adidas wants to move on from the Kanye West scandal, but investors are angry and suing
  + stars: | 2023-05-01 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +2 min
Investors sued Adidas over its failed Kanye West deal, arguing it didn't properly manage the risk. In the lawsuit, investors claimed Adidas "ignored serious issues" with regard to Ye's "extreme behavior," and didn't properly manage the resulting risks, including with inventory. If certified, the lawsuit would proceed on behalf of investors who purchased shares of Adidas between May 3, 2018, and February 21, 2023. In the wake of splitting with Ye, Adidas, under new CEO Bjørn Gulden, is focusing more on sports, including basketball and soccer, as Gulden works to reset the brand. The organization purchased 2,837 shares of Adidas stock in early 2022 for more than $350,000, according to an exhibit attached to the lawsuit.
☆ TikTok is looking more and more like a record label. It’s annoyed many in the music industry.
  + stars: | 2023-04-21 | by ( Diamond Naga Siu | ) www.businessinsider.com   time to read: +4 min
Allbirds is one of the brands I'm looking at. TikTok is looking more and more like a record label. When TikTok launched SoundOn, a song-distribution and artist-services platform, some in the industry wondered whether it was trying to muscle its way into record labels' territory. TikTok is now looking to hire people who will "identify, sign, and develop new artists" as well as "design live show and merchandise strategies for artists globally." Get a front-row seat to TikTok's transformation into a record label here.
☆ The rise and fall of Allbirds: How Silicon Valley's favorite sneaker lost its edge — and how its plan to save itself includes removing a key part of your shoe
  + stars: | 2023-04-19 | by ( Matthew Kish | ) www.businessinsider.com   time to read: 1 min
In 2016, Allbirds received B Corp certification, a designation given to companies that work to advance environmental and social causes, as well as shareholder concerns. AllbirdsFor Allbirds, the designation codified, "how we take into account the impact our actions have on all of our stakeholders, including the environment, our flock of employees, communities, consumers, and investors." Sources: Harvard Business Review, Allbirds S-1
☆ This 1977 Nike memo that calls personal ambition a 'danger' and urges workers to 'fight the law' is getting renewed attention thanks to 'Air'
  + stars: | 2023-04-18 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +5 min
In 1977, Nike executive Rob Strasser typed a list of 10 company "principles." The raw and unfiltered list captures the irreverence and combativeness of early Nike employees. It was republished after the April 2023 release of "Air," a movie about how Nike signed Michael Jordan. The list, which captures the irreverence and competitiveness of early Nike employees, once again is making the rounds on social media. One of them: "Be on the offense, always," a direct nod at Strasser's list, and a phrase that remains a favorite of Nike executives.
☆ Nike critics launch a 'burn bra challenge' and rail against its treatment of female athletes amid growing backlash for its work with a transgender influencer
  + stars: | 2023-04-17 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +3 min
Transgender influencer Dylan Mulvaney announced a partnership with Nike on Instragram this month. A Nike critic started a "burn bra challege" on TikTok last week. Last week, a TikTok user started a "burn bra challenge" and recorded herself lighting her Nike bra on fire, saying that Nike should be "ashamed of itself." "You chose a little boy with no breasts and some junk in his pants to represent real women," the TikTok user said, according to the New York Post. Nike has been criticized for several of its endorsement partners, including John McEnroe, Charles Barkley, Tonya Harding, and Colin Kaepernick.
☆ Lululemon reportedly exploring a sale of Mirror, the struggling fitness tech brand it bought for $500 million
  + stars: | 2023-04-17 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +3 min
Lululemon purchased Mirror in 2020 for $500 million. An analyst said selling Mirror could eliminate a "distraction" for Lululemon. While Lululemon's Mirror business has struggled, its overall business remains strong. "As previously announced, we are shifting the focus of Lululemon Studio from a hardware-centric offering to one that is also focused on digital app-based services going forward. At an investor day last year, Lululemon rolled out a new plan for Mirror, including the launch of Lululemon Studio, a membership plan for its Mirror device.
☆ A pair of sneakers worn by Michael Jordan just sold for $2.2 million, setting a new world record for the most expensive shoes ever purchased
  + stars: | 2023-04-11 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +4 min
Sneakers worn by Jordan in the 1998 NBA Finals just sold for $2.2 million. The sale set a new world record, topping the $1.8 million paid for a pair of Kanye West's sneakers. On Tuesday, Sotheby's announced the $2.2 million sale of Air Jordan 13 sneakers worn by Jordan during the 1998 NBA Finals. "That sneaker set the market for the sneaker industry. Rares CEO Sapp, who also played in the NFL, added Jordan sneakers tap into a bigger story that continues to resonate across playgrounds and pick-up basketball courts.
☆ A former Nike runner says the company stopped paying her while she was pregnant and portrayed her as 'Miss America in a crop top'
  + stars: | 2023-04-10 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +7 min
Nike "takes great pride as a leader in supporting female athletes," the company said. Goucher's book also describes a persistently sexist culture at the Nike Oregon Project and says that Alberto Salazar, a celebrated distance runner and former Nike coach, sexually assaulted her. "My story helped sell shoes, shorts, T-shirts, and bras," Goucher wrote of her time as a Nike-backed runner. "In 2018 we standardized our approach across all sports to support all of our female athletes during pregnancy," Nike said in the statement. We know that Nike can continue to play an elevated role in supporting female athletes and improving their experience in sports."
☆ The lucky breaks that built Nike
  + stars: | 2023-04-08 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +5 min
Fittingly as "Air" hits theaters, Nike will release an Air Jordan in "lucky green." "Luck plays a big role," Nike cofounder Phil Knight wrote in the closing of his 2016 memoir, "Shoe Dog." Athletes get lucky, poets get lucky, businesses get lucky." Knight wrote. Next Wednesday, Nike will release the "Black and Lucky Green" Air Jordan 1.
☆ Meet Sonny Vaccaro, the executive credited with signing Michael Jordan in Ben Affleck's new movie 'Air' and the self-proclaimed 'savior of Nike'
  + stars: | 2023-04-07 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +6 min
Vaccaro, 83, was a key figure in Nike's push to sign Michael Jordan in 1984. No one in his family went to college, Vaccaro said in an interview over a pancake breakfast in 2021. Matt Damon plays Sonny Vaccaro in the new "Air" movie about how Nike signed Michael Jordan. "The signing of Michael Jordan, yeah, success has a thousand fathers, and failure is an orphan," Knight told USA Today in 2015. "A lot of people want to take credit for signing Michael Jordan, most obviously Sonny Vaccaro."
☆ I went to see Ben Affleck's new "Air" movie with some Nike veterans. Here's what they said the movie got right and what it got wrong about the race to sign Michael Jordan.
  + stars: | 2023-04-06 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +7 min
The movie also shows how early Nike employees didn't hesitate to break rules. The scene sums up what's right, and what's wrong, with the movie, according to former and current Nike employees. It shows early Nike employees didn't hesitate to take risks. Nike veterans said the movie captures the company's willingness to take risks, especially early executives like Phil Knight, played by director Ben Affleck. Affleck, who also played Knight in the movie, nailed the story's arc, by all accounts.
☆ I watched Ben Affleck's new 'Air' movie with 72 Nike veterans. Here's what they said the movie got right and what it got wrong about the race to sign Michael Jordan.
  + stars: | 2023-04-06 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +7 min
The movie also shows how early Nike employees didn't hesitate to break rules. The scene sums up what's right, and what's wrong, with the movie, according to former and current Nike employees. It shows early Nike employees didn't hesitate to take risks. Nike veterans said the movie captures the company's willingness to take risks, especially early executives like Phil Knight, played by director Ben Affleck. Affleck, who also played Knight in the movie, nailed the story's arc, by all accounts.
☆ Gen Z loves the same brand that teens have loved for over a decade
  + stars: | 2023-04-05 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +3 min
Nike also remains the preferred apparel brand, according to the semiannual Piper Sandler survey. Twice a year, Piper Sandler surveys teenagers, now part of Gen Z, on brand preferences. And among upper-income female teenagers, Lululemon earned the top spot, being the preferred brand of 14% of respondents. Among upper-income males surveyed, Nike was the top clothing brand of 50% of those surveyed. For the most recent edition of the survey, Piper Sandler polled teenagers in 47 states.
☆ Nike envisions a wild future with Olympics in outer space, clothing made of spider silk, and footballs make of stardust
  + stars: | 2023-04-03 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +8 min
Nike recently published a fun and thought-provoking book about the company's next 50 years. The company playfully envisions athletic competitions in space and footballs made from stardust. The small 192-page book is mostly a fun, futuristic read about what Nike might be doing in 2073. Sam Grawe, who wrote the 2021 book Nike: Better is Temporary, is an editor and contributed essays. On a more terrestrial level, Nike foresees clothing made from spider silk and the emergence of volcanic glass compounds.
☆ Nike is joining the crowded race to win period-proof clothes — and they've got an undeniable edge over the competition
  + stars: | 2023-03-30 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +2 min
Nike has unveiled Leak Protection: Period, an absorbent liner that protects against period leaks. The Nike One Leak Protection: Period Short will be available in early April on Nike.com. The nearly $50 billion company on Thursday unveiled a new product line called Nike Leak Protection: Period. The product is a thin absorbent liner designed to prevent period leaks. Nike has been focused on evolving its women's business for several years, but it's growing slower than the overall business.
☆ Nike Air Max Day is Sunday. Here's how the huge sneaker holiday, known for hyped drops, got its start.
  + stars: | 2023-03-25 | by ( Danni Santana | Matthew Kish | ) www.businessinsider.com   time to read: +2 min
Nike Air Max Day is one of the highly anticipated days on the sneaker calendar. Nike launched Air Max Day in 2014, and has released sneakers from its Air Max vault to mark the occasion every year. This Sunday, two planned releases are the original Air Max 1 "Big Bubble" and a brand new silhouette for Gen Z, the Air Max Pulse. Nike has a large catalog of classic Air Max sneakers released throughout its history, including the Air Max 97, Air Max 95, and Air Max 90. Sneaker collectors are known to celebrate the day by wearing their favorite Air Max sneakers and posting photos of them online.
☆ Adidas event shut down by protestors as factory wages become hot-button issue for the sneaker and garment industry
  + stars: | 2023-03-23 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +5 min
Protestors on Thursday disrupted an event featuring Rupert Campbell, Adidas' top US executiveThe protestors allege Adidas has not paid Asian contract factory workers and demanded payment. A speaker rose roughly 40 minutes into the one-hour event and demanded Adidas pay wages he alleged are owed to contract factory workers in countries including Cambodia and Indonesia. The $11.7 million allegedly owed to Adidas workers comes from a report produced by trade unions and other industry groups. Before protestors disrupted the event, Adidas North American President Rupert spoke about his childhood and his career path. Ballinger noted several recent instances of factory workers getting restitution for unpaid wages, including at a Nike contract factory in Cambodia.
☆ The top 4 sports and sports tech VCs are ready to open their checkbooks. Here's what they're looking for.
  + stars: | 2023-03-23 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +10 min
Courtside Ventures in January closed a $100 million fund, its biggest yet. KB Partners late last year closed a $127 million fund, also its biggest yet. If you're not in one of those lanes, don't bother reaching out, even though the firm has the new $100 million fund to dole out. Parikh expects fewer investments in media companies out of the new fund, but more investments in gaming. It's doling out the money through two accelerator programs and an investment fund.
☆ Beyoncé's time with Adidas is reportedly over
  + stars: | 2023-03-23 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +2 min
The Hollywood Reporter on Thursday reported that Beyoncé and Adidas are ending their partnership. The Wall Street Journal recently reported on the struggles of her Ivy Park Adidas line. In 2018, Beyoncé partnered with Adidas to bring her Ivy Park line to the brand. While Beyoncé remains one of the world's most admired performers, her apparel line with Adidas hasn't lived up to expectations. The Hollywood Reporter wrote that there have been "major creative differences between Ivy Park and Adidas."
☆ Nike CEO highlights direct-to-consumer strategy the day after the company's big Foot Locker announcement
  + stars: | 2023-03-21 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +2 min
The report came a day after Foot Locker announced a "revitalized" wholesale partnership with Nike. Despite Foot Locker's announcement, Nike CEO John Donahoe touted the success of Nike's DTC approach. On Tuesday, Nike CEO John Donahoe moved to turn the attention of investors back to Nike's direct-to-consumer approach. In 2020, Nike announced Consumer Direct Acceleration, a business plan focused on direct, digital sales. On Monday, Foot Locker CEO Mary Dillon noted the sneaker chain had renewed its relationship with Nike.
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