Reporting Tim Kephart
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MIAMI (CBSMiami) – How much would you pay for a pair of tennis shoes? American consumers have been willing to shell out up to $250, but how about $315? That’s the price tag attached to a new LeBron James shoe from Nike.
Nike is set to debut the new shoe this fall and has told sporting goods stores they will not be allowed to pre-sell or take reservations for the new shoes, according to the Wall Street Journal. Nike also said no midnight sales will be allowed of the new LeBron shoe as well.
According to the Journal, Nike is raising clothing and shoe prices by up to 10 percent due to rising costs from materials, labor, and shipping. The price comes after Nike’s gross margins dropped from 44.3 percent to 42.8 percent in the second quarter, according to the WSJ.
So what will $315 get you? The Nike LeBron X Nike Plus that will come with embedded motion sensors that can measure how high players jump.
Nike has never shied away from breaking price barriers with its shoes. The last iteration of LeBron’s shoe came with a price-tag upwards of $250.