Nike delays release of new LeBron James sneakers
On the day Nike was supposed to release its new Lebron James sneakers – the LEBRON 12 – to fans, the company announced the release would be delayed.
The Oregonian, which broke the story, called the decision “unusual.”
The sneakers were unveiled September 16th to much fanfair, and were supposed to hit stores October 1st in China and October 11th globally. No word yet on how long the delay will last or when the shoes will ultimately be released.
Why would Nike (NKE) push back such a hotly-anticipated show? According to the company a “small cosmetic issue.” The company said, “Product quality is a priority for Nike. Due to a small cosmetic issue with some of the LEBRON 12 shoes we have delayed the initial retail launch… We will communicate an update on the retail date as soon as possible.”
James has the best-selling shoes of any NBA player. Sales of his namesake kicks totaled $300 million last year. The next closest star was Kevin Durant with $175 million in sales. There’s a catch, though. While sales of James’s shoes have stagnated, Durant’s sneaker sales jumped 400% from 2012-2013.
A delayed launch could impact sales of James’s latest shoes ahead of the holiday season as the self proclaimed “King James” returns to Cleveland. But according to Yahoo Finance Editor-in-Chief Aaron Task, the delay likely won’t have any major impact on Nike or the James brand.
“I think it's only going to, you know, gin up more anticipation and hype when they do come out. And maybe they want to time it closer to the start of the new season with LeBron back in Cleveland” Task said. "Whatever this cosmetic issue is... I think they're going to figure it out and get something that people want to buy."
In addition to having the highest sneaker sales, James also has the most endorsements of any NBA player. Forbes reports he pulls in $42 million per year, with the lions share coming from Nike.
Perhaps ironically, James only wore his LeBron 11s, the previous version of the delayed shoes, to two of the Heat’s first 18 games.
This year, of course, James is returning to his hometown, Cleveland, which he famously left for Miami in search of an NBA championship ring. He’s now won two championships and four Most Valuable Player awards, not to mention two Olympic gold metals.
Still, he doesn’t yet have fans who can wear a 12th version of his namesake sneakers – and according to Nike, we’ll all just have to wait.
