Tesla Shorts are Selling for HOW MUCH?!
Tesla introduced a brand new product the other day.
Truck? Try again.
They retailed for over $70 per pair and sold out almost immediately.
I can't say I'm surprised. You know you've built a true brand when you can make a pair of shorts for a few dollars, throw your logo on them, charge $70 and sell out immediately.
That's not even the best part. After the shorts sold out on Tesla's website, people immediately took their confirmed orders to eBay. They started listing their shorts at over $150 per pair... and PEOPLE BOUGHT THEM.
Mind-blowing. Truly mind-blowing.
What's the lesson here? If there's anything we could learn from this (besides buying Tesla shorts next time they're for sale), it is that brand value is priceless.
How many companies can put their logo on a pair of cheap shorts and sell them for 10x the price? I guarantee only a handful. Off the top of my head, I'd say Nike, Jordan, Supreme... and now, Tesla.
Building a brand is crucial, to say the least. Examples like Tesla show us how important branding really is.