Jordan Brand is now $4.7 billion business: Nike earnings report

Jun 30, 2021
PHOTO: Nike, UnSplash

LOOKS LIKE the wings on the Air Jordan 1 logo are buoying the Jordan Brand to new financial heights.

Nike has released its financial report for both the 4th fiscal quarter (March 1 to May 31 of this year), as well as its full fiscal year. Nike president and CEO John Donahoe trumpeted the company’s swift recovery from the pandemic.

“In Q4 sneakers grew over 90% in demand,” Donahoe said, and on the Swoosh’s digital platforms, “saw nearly 80% growth in monthly active users.”

The public hunger for sneakers has resulted in a massive 95 percent jump in earnings compared to the same period last year. Overall, looking at the entire year, Nike’s reported earnings jumped by 19 percent to $44.5 billion.

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    Among the performances trumpeted by the Swoosh’s president and CEO John Donahoe was the growth of its in-house Jordan Brand.

    “In fiscal '21, Jordan brand grew 31% propelling the business to nearly $5 billion,” reported Donahoe. The exact amount? $4.711 billion, compared to last year's $3.609 billion.

    Fueling the surge were the brand’s coveted icons, like the Air Jordan 1 and the Air Jordan 11. Aside from the classics, Donahoe also nodded to the Zion 1’s “strong sell-through” — both the shoe and the apparel collection. “As the first Gen Z signature shoe in Jordan brands history, Zion offers both transcended athletic possibility as well as a deep personal connection with fans,” he said.

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    More women were also buying Air Jordan 1s, continued Donahoe, as well as the rest of the Air Jordan women’s focused apparel.

    As a whole, the company has nimbly bounced back from the global economic crisis brought on by COVID-19.

    In fact, with over $12 billion in reported revenue, Nike’s chief financial officer called it their “largest quarter ever.”

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    PHOTO: Nike, UnSplash
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