April 1, 1985, was no joke for Nike.
It was 40 years ago when Air Jordans went on sale in six "test" markets: Chicago, New York, Los Angeles, Philadelphia, Detroit and Raleigh, N.C.
Despite a high price point of $64.95 (about $195 in today's dollars), all indications were this was going to be the biggest thing the company had done in its 15-year history.
The week before the test markets, Nike seeded the city of Lexington, Ky., which was hosting the Final Four, with pairs to sell. That week, it debuted its famous commercial with the white lie the NBA had banned Michael Jordan's new signature shoe — and seemingly everyone needed to own a pair.
"It's been phenomenal, unbelievable," Allsports manager Jeff Noffsinger told the Lexington Herald-Leader after selling out of the first 350 pairs the store received. "I call it the Cabbage Patch syndrome."
People outside of the test markets couldn't wait. Stores in Raleigh were getting calls from Florida. One store in Chicago got a call from Wichita, Kan. Did they have Air Jordans? The person on the other line was willing to make the 10-hour drive each way!
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Nike's contract with Jordan was a five-year deal worth $2.5 million. The deal allowed for Nike to get out of the agreement in the third year if $4 million worth of shoes had not been sold.
Nike sold $4 million worth of shoes in the first 15 days. By the end of the first month, the company had sold 450,000 pairs.
"Not only have Air Jordans become popular on city playgrounds, they also are the best selling shoe in the suburban shopping malls," Los Angeles Times writer Randy Harvey opined. "The people who really have been making the cash registers ring are the Yuppies."
In the first nine months, Nike sold $107 million worth of Air Jordans, a whopping 13% of its total sales. It turned the company, which lost money the quarter before debuting the shoes, into an immediate profitable winner.
Jordan sales took a major hit in Year 2. People didn’t like the models, and Jordan missed most of the season. But in the 1986-87 season, Jordan designer Peter Moore was replaced by Tinker Hatfield, and his Airness soar to basketball royalty.
The brand has never looked back.
Darren Rovell is the founder of cllct and one of the country's leading reporters on the collectibles market. He previously worked for ESPN, CNBC and The Action Network.