Tiffany & Co.
- Nike and Tiffany & Co. are releasing their first sneaker collaboration next month for $400.
- The sneaker is just the beginning. Accessories for the release can set shoppers back over $1,000.
- Accessories are a sterling silver shoe horn, sneaker toothbrush, deubré, and a referee whistle.
Nike and Tiffany & Co. are getting set to release their first sneaker collaboration next month.
Sneakerheads have not been shy about expressing their disapproval for the shoe online after photos of the upcoming collab leaked. Samples and custom designs of what the shoe could have looked like have also surfaced this week.
The official sneaker hitting stores comes in mostly all-black suede and features a Tiffany-blue swoosh and a silver heel plate. The shoes, releasing on March 7 for $400, also come with four different sets of laces — white, black, yellow, and blue. NBA superstar LeBron James recently wore a pair of the unreleased shoes before a regular-season matchup between the LA Lakers and the New York Knicks.
But the sneaker, dubbed the Nike Air Force 1 Low Tiffany & Co. “1837,” is just the beginning. The accessories set to accompany the release will set back customers well over $1,000.
Many sneaker collaborations tend to include apparel drops. But in classic Tiffany’s style, the luxury jeweler is selling a sterling silver shoe horn, sneaker toothbrush, deubré, and a whistle as part of the release. Each will cost between $250 to $475.
—Tiffany & Co. (@TiffanyAndCo) January 31, 2023
Tiffany’s has a history of selling everyday items crafted in sterling silver. A loop baby spoon is on sale for $220 on its website. The brand also sells sterling silver photo frames, bowls, and pens, among other items.
Since being acquired by LVMH in 2021 for $15.8 billion, Tiffany’s has worked on a number of collabs, including partnering with Beyoncé and Jay-Z, in efforts to shake off its old-fashioned image and attract younger customers.
In an earnings call last week, LVMH CEO Bernard Arnault told investors that Tiffany’s exceeded $1 billion in profit for the first time in 2022. Revenues for LVMH’s jewelry and watches segment, which includes Tiffany’s, Tag Heuer, and Repossi, increased 18% to about $11.5 billion.
“Everyone said to me, why are you buying this business at that price? It’s far too much,” Arnault told investors on an earnings call last week referring to the Tiffany’s acquisition. “But I mean, it wasn’t perhaps managed in the most dynamic way, I won’t dwell on that at the time. But if it were listed today, probably worth twice as much.”
This is Tiffany’s first official foray into sneakers. Back in 2005, the jeweler’s banner colors were the inspiration for the Diamond Supply Co and Nike SB Dunk.
Tiffany’s sister brands Dior and Louis Vuitton have released their own collaborations in recent years with Nike on the Air Jordan 1 and Air Force 1, respectively. Each retailed at $2,000.