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Dior and Nike just debuted a new sneaker collaboration: the 'Air Dior,' rumored to be one of the most expensive Jordan collections ever sold at nearly $2,000

Photo by Matthew Sperzel/Getty Images

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On Tuesday, luxury brand Dior debuted a new collaboration with Nike's Air Jordan, Women's Wear Daily reports .

The upcoming shoe was unveiled at the Dior pre-fall 2020 show during Art Basel in Miami Beach, Florida. Basel is an annual international art show held in various locations around the world. It's known for its gallery sector, featuring work by over 4,000 artists; Art Basel's Miami show often attracts high-profile celebrities from all over the globe.

The Air Jordan is one of Nike's most popular shoes. Michael Jordan debuted his namesake shoe during his rookie season in 1984. The shoe released to the public a year later, according to WWD.

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Jordan receives a percentage of the profit earned by Air Jordan, which has helped his net worth climb to a staggering $1.9 billion . In 2018, Forbes reported that Jordan and Nike's continuously popular shoe line generated $3.1 billion in 2017, with Jordan himself earning "well over" $100 million from his part of the deal.

Dior, meanwhile, is owned by LVMH the largest luxury goods company in the world, which also just agreed to buy jewelry retailer Tiffany & Co. for a record-breaking $16.2 billion . Dior was acquired by LVMH in 2017 for $13.1 billion, Business Insider previously reported .

Dior and Jordan coming together was the brainchild of Kim Jones, the men's artistic director for Dior.

"I chose to collaborate with Jordan Brand because Christian Dior collaborated with the best American brands of his era," Jones told WWD. "I love mixing together different worlds, different ideas Dior and Jordan Brand are both emblematic of absolute excellence in their fields. To bring them together in this special collaboration is to propose something exciting and truly new."

Right before the runway show, rapper Travis Scott became one of the first to show off the yet-to-be-released sneaker, as pictured below.

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For Dior's pre-fall 2020 collection, the brand is also collaborating with streetwear designer Shawn Stussy, founder of his namesake clothing brand .

Jones told WWD that for the "Air Dior" collection, he is taking inspiration from the Art Deco movement, with references to the 1960s, WWD reports. The shoe will also serve to commemorate Dior's first men's show in the US as well as the 35th anniversary of the Air Jordan 1.

The shoe will be available at select stores globally starting in April 2020. The manufacturer's suggested retail price has yet to be revealed, though Highsnobiety's Jonathan Sawyer reported that the upcoming sneaker will retail for 1,800 (or just under $2,000), noting that this pricing would make them "one of the most expensive Air Jordans at retail of all time."

(Nike didn't immediately respond to a request for comment from Business Insider regarding the release or its reported pricing.)

This Dior x Air Jordan collaboration is far from the first time a luxury brand has partnered with a well-known footwear brand. In November, Insider reported that Adidas is launching a sneaker collaboration with Prada just in time for Christmas.

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See Also:

SEE ALSO: LVMH just agreed to buy Tiffany for $16.2 billion here are 17 of the most iconic brands the French luxury giant already owns

DON'T MISS: The French billionaire whose company controls luxury giants like Gucci says brands should be taking 'bold public positions' against the mistreatment of women

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