(NEW YORK) — Facing shrinking profit margins and rising costs, Nike is pumping up the prices of its clothes and sneakers, the Wall Street Journal reports. And it will be most notable this fall, when the latest pair of LeBron James basketball shoes hits the market.
The new kicks — the LeBron X Nike Plus — will be sold for the hefty price of $315, according to the newspaper. That makes them the most expensive pair of sneakers Nike has released so far.
The shoes will come fitted with electronic motion detectors that can measure how high you jump, the Journal says. Shoppers who opt for the basic pair — without the embedded electronics — will only have to shell out about $180.
Copyright 2012 ABC News Radio
Cristina Alesci Seth Fiegerman and Charles Riley, CNN
Debra Goldschmidt, CNN
David Goldman, CNN
Sarah Anderson, Deseret News