John Donahoe referred to running as “the heart” of Nike, and basketball as “its soul.”
![Nike’s GOAT shoe bounds forward](https://20627419.fs1.hubspotusercontent-na1.net/hub/20627419/hubfs/The%20Hustle/Assets/Images/329226565-final_size-NikeAirMax_20230324004608.webp?width=595&height=400&name=329226565-final_size-NikeAirMax_20230324004608.webp)
Unfortunately, he missed the opportunity to refer to Air Max as the company’s lungs, though he did describe the unit as a “multi-billion-dollar business in its own right,” growing double digits YoY.
Next week is a big one for the Nike brand, with Sunday marking one of the holiest days of the year for sneakerheads — Air Max Day — as well as the launch of the Pulse, Nike’s first Air Max shoe designed for Gen Z.
The history of Air Max…
… stretches all the way back to 1977, when NASA engineer Frank Rudy realized the inflatable inserts he was building for his wife’s ski boots had sneaker potential.
After a meeting with Nike CEO Phil Knight, who then took the inserts on a six-mile run, the duo struck a deal.
While Nike launched the tech with the Air Tailwind in 1978, it wasn’t until 1987, with architect Tinker Hatfield’s Pompidou-inspired Air Max 1s, that you could actually see the signature Air unit in the heel.
In recent years…
… Air Max has seen strong growth:
- In 2021, the top four bestselling athletic sneakers were Air-branded shoes, per NPD Group.
- Between 2016 and 2020, the market share of Air Max shoes on sneaker reselling platform StockX rose 800%; between 2019 and 2020, their average value on StockX appreciated 28%.
How ‘bout that for an inflation hedge?
BTW: If the words “Michael Jordan,” “cool sneakers,” and “on the big screen” pique your interest, you’re in luck on April 5.