Lin Knicks Exit Would Leave Retailers With Worthless Merchandise – Bloomberg

New York Knicks logo

If the New York Knicks don’t match Houston’s contract offer to point guard Jeremy Lin, perhaps nobody would be more disappointed than Mitchell Modell, whose namesake sporting-goods retailer will have to sharply discount its 40,000 Lin team-related items in stock.

“We’re going to have crazy, crazy prices — like $5,” Modell said in a telephone interview. T-shirts list for $24.99 on Modell’s website, with jerseys going for as much as $89.99.

The Knicks announced yesterday that they had re-acquired point guard Raymond Felton as part of a trade with Portland. Along with the team’s signing of point guard Jason Kidd earlier this month, the Felton trade makes it much less likely that New York will match Houston’s contract offer to Lin.

The Knicks have until 11:59 p.m. New York time tonight to decide whether they’ll match the three-year, $25 million contract offered by the Rockets to Lin, whose apparel is the top-selling among National Basketball Association players this year, according to Fanatics Inc., an online retailer in Jacksonville, Florida.

Merchandise related to Lin, a Harvard University graduate who is the first Taiwanese- or Chinese-American to play in the NBA, has outsold Most Valuable Player LeBron James of the Miami Heat by more than 50 percent, Anne Lacey Whitaker, a Fanatics spokeswoman, said via e-mail.

Modell said his company would wait until the morning after the deadline before altering the price of any Lin New York- related item.

Fanatics offers about 300 Lin-related items, such as T- shirts and jerseys, Whitaker said, declining to give a total number of products in stock.

“If Lin leaves, this product is going to be worth virtually nothing,” said Matt Powell, an analyst with Charlotte, North Carolina-based SportsOneSource, an analysis firm focused on the sporting-goods industry.

Brian Strong, a spokesman for Nike Inc. (NKE), whose products are endorsed by Lin, said he didn’t immediately know how much merchandise linked to the player the company had.

via Lin Knicks Exit Would Leave Retailers With Worthless Merchandise – Bloomberg.

Strange Random Merchandising Quote:

“Advertising moves people toward goods; merchandising moves goods toward people.” – Morris Hite

 

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Posted on July 18, 2012, in Article and tagged , , , , , , , , , . Bookmark the permalink. Leave a comment.

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