Nike caught lightning in a bottle when signing a relatively unknown, untested Michael Jordan way back when; his image (and success) helped take a moderately successful sneaker company and turn it into the best selling brand in the world. Then, they did it again with Bo Jackson, and when the brilliant "Bo knows" ads hit, suddenly everyone wanted to be associated with Nike (just think of all of the sports and entertainment stars that were part of that particular ad campaign...).
Their position as the undisputed #1 brand has been under assault over the years by rival shoe companies (especially Reebok), bad publicity (the sweatshop thing), some bad signings, and a bad economy not willing to support the idea of hundred-plus-dollar sneakers. Still, they remain as the #1 volume seller, the #1 moneymaker, and probably the leading edge of the "hip" factor, especially in certain circles where the brand of sneaker you wear is almost as important as the car you drive.
So, in short, they are known for being hip, cool, expensive, exclusive, and very desirable (to the point where people have been killed for their sneakers).
Doesn't that kinda sound like iPod frenzy (except for the death part, that is....)?
I'm not 100% behind this move, but I'm really curious to see how it plays out. I think this could be a really good thing - we'll see.
MFK