Would you pay $315 for a sneaker? Nike is betting you will, and it’s not just any sneaker. This fall, the shoe company will unveil the latest in LeBron James’ line, the LeBron X. Its price tag is a significant jump over the $170 asking price for the LeBron 9 that debuted last October.
Why so expensive? Nike has claimed that rising labor costs in China and a jump in cotton prices, but it’s probably more likely due to the fact that Nike can charge whatever the hell it wants. People will still buy the shoe. In fact, Nike’s basketball division has seen a 17% increase in revenue in just a year. Earlier this summer, another ridiculously high-priced shoe–Kanye’s signature Air Yeezy 2–sold out, despite carrying a $245 price tag (and that’s before somebody bought a pair on Ebay for $90,000). If there’s a market, then you bet Nike will keep raising that price.
Now, back to the LeBron X. What do you get for a shoe that costs a good portion of your monthly rent? The X includes Nike+ technology that can track your workout, from speed to vertical jump. The shoe is also built really well, apparently, using “the same Hyperfuse construction of the LeBron 9’s.”
There you go: you can measure how high you jump, and you get a sturdy sneaker. Go try to convince your parents with that information as you shop for back-to-school clothing. [Business Insider]