Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Would You Pay $300 for Sneakers?

Details

  • Description

    FBN’s Adam Shapiro on the New Lebron X from Nike.

  • Duration 4:23
  • Date

Clips

Also in this playlist...

Sports

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

At this point except maybe in your pocket if you're gonna be in the market for -- bond James new -- From Nike the king this time it's not where is gonna play it's about the price.

On the new Nike sneakers the abroad well come and ask and preparedness he's here with Fox Business -- -- ten.

Is that the -- Montana hello -- -- Yeah.

Hello my facts that I you know -- will have run Tenet then it would which neighborhood here and it gave little Italy to be -- -- ten.

In some neighborhoods in east Cleveland will be love love -- -- -- This is sneaker that's got a lot of buzz hasn't even been released to the market just Chad.

And already it's been creating an outcry they have at a price on it they're gonna be two different versions of this.

There's the will -- do that is estimated by the Wall Street Journal to be worth 300 -- that comes with electronics.

That will determine you know how -- a person has jumped name article -- -- right -- right.

And then there's the less expensive version which is likely to -- about a 180 dollars so the national urban link the president the National Urban -- former mayor Norman's.

His ass Nike to abandon the plans to release the -- -- -- -- Ron acts.

Because.

They getting complaints from consumers.

Saying this thing is targeted -- kids and wire would -- be spending 300 dollars on a sneaker they kids.

Well.

We still don't have the price from ninety on what this is going to cost but it's -- -- creating a bit of an uproar on.

I.

But look -- the cost of women choose and how much that they've gone up in recent years the standard for luxury she needs to be like 300 dollars and now it's north of a thousand dollars a pair.

A no it's a different market but in terms of demand.

He is a basketball superstar they're adding some bells and whistles in the issue it's not outrageous to think that they're gonna try and is the supply going to be limited.

2000 they're gonna they're -- -- be roughly 50000.

The the -- did you issue of the the top of the line of the electronics.

But when you think about this they're there to argument you could have the first would -- outlook parents ultimately decide what a child is going to purchase.

So parents or calling the National Urban League and saying please don't you know put pressure on Nike not to released issue.

Why couldn't those parents put pressure on their children say look I'm not giving you 300 dollars all eyes I hear -- call saying now say are your kids so that's one personal responsibility.

Take control of the purse here -- The other argument though is that a lot of kids are gonna feel pressure perhaps to keep up with their peers.

And although they're not like adult women who might want to spend a thousand dollars on -- that's I don't live in Canada decision for themselves.

-- sometimes are impulsive.

And can create Havoc for your for parents I think at the end of the day the argument will come down to parents saying no.

But what I think is irrelevant we -- at the price from Nike that I I don't issue is really gonna.

And Nike is because of all the labor materials costs broadly speaking I think the cost of the shoes on and -- is going -- 510% in terms of inflation -- business.

This is superstar inflation just trying to place as well and technology.

A little brawn James -- when I was talking about Cleveland just a second ago I had the privilege of working in Cleveland Ohio for several years when the brawn James Rosen high school.

When he was -- says in Akron and you know this is a young man who made himself out of nothing.

This guy is amazing yeah he's a great athlete he's been a terrific businessman.

He's also been -- very principled individual you know you don't hear the stories about -- brawn James.

-- cheer about other athletes I mean this is a man who seems to be very much in control of -- so this is someone that perhaps you would want your children to emulate.

By it you know despite his success there are people who are feeling pressure by you know -- -- -- -- like Mike -- the -- over you know at Michael Jordan that there's always going to be this kind of controversy at the end of the -- most people probably say look parents.

You saying now.

And Nike by the way.

Hands -- to -- hats off to Nike and they are getting incredible amounts of -- free publicity.

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Thank you group -- keep that in mind out.

Load More