Cheap “Sneaks” and the New Cool
Twenty years ago, when Nike signed basketball superstar Michael Jordan to an endorsement deal, $100 basketball shoes became all the rage. Kids begged their parents for a pair. Some even killed for them. Flash-forward to today and New York Knicks guard Stephon Marbury is out to end the insanity of overpriced sneakers. As reported on ABC News, Marbury remembers longing for Air Jordans as a kid. But his family lived in a housing project and $100 for a pair of shoes was out of the question. Now that he earns $17 million a year, he could easily afford even Nike's $2,000 gold-accessorized shoes. Instead, he has introduced a line of "Starbury" (his nickname) athletic shoes, jerseys, and hats--all selling for less than $15. The products are available exclusively at a retail chain called Steve and Barry's. To see if there's a store near you, click here .
Matt's View
Our fascination with celebrities is often a hindrance to wise money management. With the media full of stories touting the latest example of celebrity high living, it's refreshing to see someone using his star power for a good purpose. But can a pair of $15 athletic shoes really be any good? Apparently so. They're the same shoes that Marbury wears on the court.
The one downside to the inexpensive Starbury shoes is that they're made in China.
Managing Money by The Book
- "I delight in your decrees; I will not neglect your word." - Psalm 119:16
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