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Sneakers Never Looked So Good

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Sneakers Never Looked So Good A RICHER LIFE Sneakers Never Looked So Good By Anthony D. Amante “You paid HOW MUCH for those?” It’s a familiar question for anyone passionate about collecting footwear linked to basketball, skateboarding or a specific musical artist. Answering with pride is all part of being a sneakerhead. For aficionados, collecting sneakers is much like collecting fine art such as paintings or sculptures, but with an important distinction. A sneakerhead wears pieces from their collection, not only as a source of self-expression, but as a way of appreciating the art and creativity behind the sneakers’ design. Sneakerheads, who tend to be Gen Xers and Millennials, value connecting physically and emotionally with an athletic hero, or pop culture icon by owning shoes that represent a star’s achievement or capture a nostalgic moment in time. Celebrities like Spike Lee, 1 Jerry Seinfeld, Mark Wahlberg, Drake, billion dollars. In this space, young As large retailers bring new technology and Pharrell Williams and Kanye West are some entrepreneurs look to either buy/sell/ ideas to life and sneakerheads’ appetite for of the significant high-profile collectors. consign or further customize footwear for exclusive footwear grows, the market is sure future sale, using social media and online to expand and evolve. However, for the true What emerged as a subculture in the platforms to full advantage. With some sneakerhead, it’s about far more than late 1980s—originating in the worlds of select resale shoes, originally priced at a shopping spree and price tags. For me, basketball and hip-hop music—is now a $200 USD, now commanding $10,000 it’s about the nostalgia, appreciation and widespread trend. With familiar superstars USD,2 it’s easy to see how the profit esthetic tied up in each pair. like Michael Jordan, Roger Federer and margins can be enticing. Looking to Derek Jeter linked to specific sneakers, leverage sneakerheads’ willingness to it’s not surprising that athletic wear has spend significant sums of money, firms “What emerged as a wound its way into pop culture and onto like “Flight Club” and “RIF” are operating high fashion runways. Given the ever- profitable brick-and-mortar storefronts. subculture in the late growing influence of social media and 1980s...is now a wide- Social-media-savvy companies like the marketing smarts of major companies spread trend.” like Nike, Adidas and Under Armour, GOAT and StockX are providing online sneakerhead culture has evolved into an platforms for buyers and sellers worldwide. extremely profitable business. In addition, lower profile companies like Jason Markk are flourishing by introducing While such familiar brands continue to niche products and services such as a benefit from the growing trend, the premium shoe cleaner—to help sneaker- secondary market for famous sneakers heads preserve their prized possessions— is attracting considerable attention with and the world’s first drop-off sneaker a current, estimated value of nearly a cleaning service in Los Angeles.3 1. Jordan Lebeau, “The Beginner’s Guide to Sneaker Collecting,” Forbes, July 25, 2017, https://www.forbes.com/sites/jordanlebeau/2017/07/25/the-beginners-guide-to-sneaker-collecting-for-old-people/#6da357041c25. 2. “10 of the Most Stupidly Expensive Sneakers Ever,” Sneaker Freaker, October 17, 2018, https://www.sneakerfreaker.com/articles/10-of-the-most-stupidly-expensive-sneakers-ever. 3. “About Jason Markk Premium Shoe Care,” https://jasonmarkk.com/about. fiduciarytrust.ca FIDUCIARY TRUST CANADA 11.
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