There are a lot of questions about what will happen when Donald J. Trump is sworn in as the 45th President of the United States on Friday. What is going to happen to the Affordable Care Act and will anything replace it? Is the wall actually happening? What about the Supreme Court? Here’s another important one: Are sneaker prices going to go through the roof?
Here’s why that matters. The current tax plan being proposed by the House GOP calls for border adjustments. In essence, companies currently importing goods into the U.S. can deduct their manufacturing cost before calculating their taxes. Under the proposed plan, importers—including every major footwear firm—would no longer be able to take that deduction, meaning they’d be paying taxes on a significantly larger sum.
The AAFA’s estimates suggest that the rise could be 10 percent on the low end, or as high as 25 percent, depending on the individual company, the individual shoe, and a number of other factors. (See below for our chart on what that looks like for your favorite models.) And some brands, like direct-to-consumer based Greats, said that they’ll be able to keep rises even lower, since they don’t sell through retail stores who also need to make a profit.
Roy Williams started his college basketball coaching career at the University of North Carolina as an assistant coach and play a key role in recruiting a young Michael Jordan for the team. Now, as head coach of the UNC Tarheels, William just reached his 800th career win against Syracuse University and Jordan Brand is celebrating it with a special sneaker package. UNC took to Twitter to share Williams gift from Jordan Brand. The packaging alone is impressive on its own. A large wooden box features a Jumpman logo, basketball net and “800” carved into it. Opening the box reveals more carved details, an etched glass container that reads “Congratulations Roy Williams” and a pair of “Metallic Silver” Air Jordan 1 Low Pinnacle signed by Michael Jordan.
Last night, the National Retail Federation held its third annual Gala in New York City. While the event’s purpose is to recognized and honor individuals who are impacting the retail industry today, Kobe Bryant highlighted the event in a surprise appearance to present Nike CEO Mark Parker with The Visionary Award. Bryant, a long-time Nike signature athlete, talked about the Nike CEO’s impact on him personally, calling Parker one of his muses and someone he could turn to all the time for advice. When Bryant was beginning to plan his post-retirement life, he said Parker gave him a 944-page book on own his muse, Abraham Lincoln.
“I would think that after all these years working at Nike, spending time with athletes, that he would know that the last thing an athlete wants to do is read a 944-page book in a 10-point font,” said Bryant. “But when I read it, I immediately saw the connectivity between the sixteenth President’s and Mark’s leadership style. A quiet, empathetic leader who bands together people with different points of view to build a stronger team, because maybe, just maybe, an off the wall idea can change the game. You just need to be willing to listen. So for every Mark Parker in the world, there is an Abraham Lincoln. For every Kobe Bryant, there is a Mark Parker.”