Nike, Jordan return to brand mania's roots with opening of Chicago store
More than 12 years after he last played an NBA game, Michael Jordan still casts a long shadow across the sports universe.
The first Jordan Brand store is set to open in Chicago by the end of the year, and the retired legend said it's something he's been bugging Nike about for a while.
"I've been on these guys for some time," Jordan told ESPN's Darren Rovell. "(Saying) we need to do a Jordan Brand store, and we need to do it in Chicago first."
Jordan, a separate brand under the Nike umbrella, hasn't operated standalone retail outlets to date. That will change with an inaugural location in downtown Chicago - named after its address, 32 South State Street.
"We understand that the brand is so huge now that it's global, but we understand where it originated," Jordan said. "Red, white, and black. Chicago Bulls colors."
It sounds almost comical today, but Jordan - selected third by the Bulls in the 1984 NBA Draft - signed a five-year endorsement contract with Nike for a paltry $2.5 million that year. In March 1985, Air Jordan I shoes debuted on shelves at a cost of $65.
Today, the Jordan Brand generates more than $2.5 billion per year for Nike, according to Rovell. This week, the brand announced an apparel deal with the University of Michigan's football program. It was also reported Jordan made $480 million from Nike between 2002 and 2012. He last played an NBA contest in 2003.
As a result, Jordan is the template for which all major athlete endorsement contracts are measured. The man himself isn't even sure how to copy it.
"Everybody behind us is trying to find a way to duplicate it," Jordan said. "It's something you can't. If I could, I'd sell it to you."
Jordan last played for the Bulls in 1998, retiring for a second time that summer after general manager Jerry Krause opted to break up a dynasty that included Jordan, Scottie Pippen, Dennis Rodman, Toni Kukoc, Steve Kerr, and coach Phil Jackson. After a three-year absence, Jordan returned to play two seasons with the Washington Wizards from 2001-2003.
"We think (the store) will resonate with the city of Chicago," Jordan Brand president Larry Miller said.