By Mohit Hira
In the quarter century I have spent in advertising and marketing, Nike has been more than a sneaker. It was an envied brand with inspirational advertising that was often pinned up on softboards, and whose ‘Just Do It’ signoff remains part of everyday vocabulary. In recent years, while smaller brands and a resurgent Adidas have been snapping at its heels, and a strategic misstep in attempting D2C sales have slowed down Nike’s growth, it remains a legendary brand.
But there are two other legends (among many others besides) who matter as far as this review goes: Sonny Vaccaro and Michael Jordan. Vaccaro’s autobiography Legends and Soles, co-authored with Armen Keteyian, the eleven-time Emmy Award winning journalist, serves both a blueprint for innovation and a warning about the price of backing a vision in a cutthroat industry.
More than merely a memoir, the book is a tapestry woven from the threads of sports, business and unshackled human ambition. For anyone who has anything to do with the volatile worlds of marketing and advertising, or for today’s young, aspiring athletes and fitness enthusiasts whose routines aren’t confined to the gym alone, this book is a keepsake in disruption, testifying to the power of conviction, and a deeply personal journey through the seismic shifts that transformed sports into a global industry.
Intelligent startup founders are also likely to find sections that appeal to them. At a fundamental level, Legends and Soles chronicles Vaccaro’s career, from his early days as a high school basketball scout to his radical role in shaping first the American athletic footwear industry, and then the world’s. He was the maverick who questioned conventional wisdom by advocating the endorsement of individual athletes instead of entire teams or leagues when Nike’s budgets were constrained.
This audacious vision led to the unprecedented deal with Michael Jordan which created Air Jordan. This 1984 deal – reportedly for five years worth $2.5 million plus stock options – forever changed the landscape of sports marketing, and created a template for athlete-brand partnerships. The foresight of Jordan’s mother, an unyielding Deloris, backed by his agent David Falk, also ensured an industry-first perpetual 5% royalty from all Air Jordan sales worldwide. Phil Knight, Nike’s chief executive at the time, baulked at this, but finally relented. Various reports indicate that Michael Jordan has earned anywhere between $1.8 billion and $4.15 billion over the years!
But Vaccaro’s story extends beyond Jordan; it encompasses his tireless efforts to champion college basketball players, his pivotal role in the sneaker wars, and his unwavering belief in the power of the athlete’s narrative.
From a marketing perspective, Legends and Soles serves as an invaluable guide to brand building, strategic partnerships, and the art of negotiating a deal. Vaccaro’s approach was never about short-term incremental gains; it was about identifying tectonic shifts and riding the wave: “I didn’t see dollar signs; I saw dreams. And when you believe in someone’s dream, magic can happen.” His genius lay in recognising that the future of sports marketing wasn’t in logos on jerseys, but in the aspirational power of individual legends – something that India’s cricket players seem to have caught on rather well.
When Sonny Vaccaro insisted on signing Michael Jordan, who was a rookie at the time, it was a colossal gamble that paid off exponentially. This highlights the importance of foresight, courage, and the willingness to bet big on disruptive ideas. Innovators will find lessons in not just identifying emerging trends but also demonstrating the conviction to invest in them.
Throughout the book, Vaccaro emphasises the profound importance of human connection. In Air, the film that has Matt Damon playing the role of Sonny (and Ben Affleck as Phil Knight), his success wasn’t just about contracts and numbers: it was built on empathy, trust, loyalty and genuine relationships with athletes, coaches and their families. His solo, unsanctioned visit to meet Jordan’s parents and convince them to come to Nike for a meeting at a time when far larger brands were promising much more, underscores a timeless marketing principle: real human relationships often yield more enduring and impactful results than purely transactional data-driven ones: “…if you don’t connect with people on a human level, you’re missing the soul of the business.”
The Air Jordan phenomenon wasn’t just about a new shoe designed by Peter Moore, Nike’s creative director; it was about immersively embodying Michael Jordan’s unique talent, competitive spirit and aspirational aura. Vaccaro understood that true branding stems from authenticity and the seamless alignment of a product with the values and identity of its endorser – something contemporary marketers banking on so-called influencers are unaware of. Vaccaro’s pitch wasn’t just about a shoe; it was about partnership, about building a legacy.
As he recalls, “I didn’t want Michael to just wear the shoes. I wanted him to own the shoes. To be the shoes.” This insight led to the creation of the Air Jordan line, a brand that would generate $125 million in its first year and ultimately transform Jordan into a global icon: estimates indicate that Nike may have earned upwards of $7 billion from Air Jordan alone until last year – approximately 16.4% of Nike’s global revenues. This offers a powerful lesson on moving beyond superficial endorsements to create deep, resonant brand narratives.
In between portraying the intense ‘sneaker wars’ of the 1980s and ’90s between Nike, Adidas and Reebok, and the insights into competitive strategy, negotiation tactics, and the relentless pursuit of market share, Vaccaro shows the reader how to differentiate a brand in a crowded marketplace by focusing on unique value propositions and compelling storytelling.
While the book celebrates iconic moments, it also sheds light on the immense amount of unseen work, negotiation, and relationship-building that occurs behind the scenes. It teaches young enthusiasts that success in sports, like in life, is rarely an overnight phenomenon but rather the culmination of tireless effort and strategic thinking.
Vaccaro faced numerous setbacks – including being fired from Nike and an FBI investigation for corporate espionage – rejections and scepticism throughout his career. His story is a testament to perseverance, demonstrating that setbacks are inevitable but can be overcome with unwavering belief in one’s vision.
Peppered with photos from his career, Vaccaro’s book is direct, authentic and engaging. He shares not just his triumphs but also his regrets, offering an introspective look at the high-stakes world he inhabited. The narrative is rich with anecdotes and personal reflections, making it feel less like a dry business history and more like a captivating conversation with a pioneer. Just read it!
Mohit Hira is co-founder, Myriad Communications, and venture partner at YourNest Capital Advisors
Book name: Legends and Soles: Business Creativity and Basketball by Sonny Vaccaro
Publisher: HarperCollins
Pages: 256
Price: Rs 899
