Michael Jordan proved early on that people are willing to dish out big bucks for the right sneakers. Twenty years after its creation — and two years after Jordan retired from playing basketball — his Nike Air Jordans still sell for as much as $200.Now, Adidas is about to take the athletic shoe to higher ground. The German athletic apparel manufacturer plans to introduce in stores on Friday a $250 running sneaker it calls the ‘‘Smart Shoe.’’ The Adidas-1 is gaining attention as the first of its kind to use an embedded computer chip that adjusts the shoe’s cushioning based on a runner’s weight, speed and running terrain.The product may cause as much a stir over price as its technology. It’s one of the most expensive sneakers ever to hit the market. ‘‘It’s going to be head and shoulders the most expensive shoe out there,’’ said Tim Taylor, a footwear associate at Dick’s Sporting Goods in Columbia, Md. The $16-billion athletic shoe market has rapidly expanded, as consumers buy sneakers as much to make a fashion statement as they do for athletic performance.A new generation of basketball stars led by LeBron James, Kevin Garnett and Carmelo Anthony have replaced endorsement celebrities of the past. Even old-style, canvas sneakers like Converse Inc’s Chuck Taylors have made a comeback.About 493 million pairs of athletic shoes were sold last year, up nearly 5 per cent from 471 million pairs sold in 2003, according to NPD Group/NPD Fashionworld, a research firm in New York. But even while consumers have shown they’re willing to pay a pretty penny for footwear, some question how big the market is for a shoe that costs as much as some car payments. ‘‘I just think that a $250 price point is a price that is really out there,’’ said Neil Schwartz, director of marketing for SportScan INFO, a Florida market research firm that collects data for the sporting goods industry. ‘‘I’m not sure the amount of money spent will equal the advantage of the technology in the shoe.’’The average running shoe costs about $55 a pair, according to SportsScan data. Working in Adidas’ favor is the growing demand for higher-cost running shoes. Sales of shoes that cost more than $75 grew 20 per cent last year, and running shoes are the largest-selling category of athletic shoes. ‘‘People are spending more on a sneaker than ever before,’’ said Mike May, spokesman for the Florida-based Sporting Goods Manufacturing Association, a trade group. ‘‘They’re realising that technology-wise, you’re getting more support, more longevity, more style, more comfort and more diversity of color than ever before.’’‘‘People pay $50,000 for automobiles,’’ he said. ‘‘There’s not a reason why they won’t pay $250 for a sneaker.’’ Stephen Pierpoint, an Adidas project manager, said the new shoe took four years of development to bring to market. The price is worth the value of the innovative technology, he said. —LAT-WP
