A quite different scenario from me meeting a 16-year-old kid at the expo, who told me that “about $700”, was a good amount for this event. A lot more money is being spent and made off these “exclusive” sneakers. Conventions like these provide a void for adults seeking to purchase the shoes they couldn’t afford as children. Companies like Nike, re-release some their iconic brands, in limited edition colors and supplies. The strategy provides a high demand and thus sparks the conventions of merchants who specialize in obtaining these items.
This scheme has helped Nike grow far and beyond its competition. Last year the company was estimated to make at least 25 billion dollars in revenue. In addition to that, Michael Jordan, the cash cow of the company became the first former athlete to become a billionaire.
Don’t expect this trend to fade away like MJ used to do with his jumper. Adult Sneaker-heads not only collect shoes for themselves but sometimes pass the tradition to their kids. It all adds up to a perfect storm for the shoe industry. The question is: Do you think such emphasis and money should be spent on shoes that are over 20 years old?
