The Footsy Index: How Sneakers Became Big Business
" To the uninitiated, the sneaker world can seem as closed and elitist as the fashion industry, followed with unabated fervour by the few (for “fashionistas” read “sneakerheads”); the rest of us are happy to consume new styles and trends at a more negotiable pace. Where the two markets diverge however, is in exclusivity. Yes, high-end fashion is exclusive . . . but you’ll never see round-the-block crowds camping outside of a Gucci or Prada store waiting to get their hands on the new season’s designs.
When it comes to sneakers, hype drives the halo effect — it’s self-sustaining marketing at its best. For sneakerheads, missing out on a limited edition collaboration means looking for the same “kicks” on a resale market where the mark-ups are astounding... The resale market is now estimated to be valued at $1bn..."
Read the full article at Financial Times.
Image Credit: Fashion Press