Brands, Footwear and Apparel, News

Nike’s latest craze…Socks!

You might be wondering why I would ever consider writing about such a staid product like socks. Walk around any school yard these days and you’ll quickly realize that the days of the basic white tube socks are gone. As a father of two 9 year olds, we are seeing first-hand the craze of the Nike Elite basketball sock. (Disclaimer: as the former GM of Nike’s Equipment division, socks was one of my largest product categories. Yet, I can take little credit for this recent success). ¬†Selling for a whopping $16/pair, my kids must have an equivalent of 1-2 pairs of shoes worth of socks in their drawer, in all colors imaginable. ¬†While Nike created this newest craze, many other brands in the sporting goods industry are capitalizing on the trend and achieving 25% – 40% sales growth. So, what’s behind this phenomenen?

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