With the sneaker resale market estimated to be worth billions, are sneakers a golden ticket to quick wealth or the next bitcoin? KrASIA meets with sneaker fans, OGs and influencers in China to find out the truth behind rags-to-riches stories.
To learn more about the sneaker business, be sure to read our article on sneaker speculation:
Chinese sneaker speculators turn a once hipster hobby into a bubbling business
On a sunny October morning in 2019, 19-year-old Beijing sophomore Liu Haoyu skipped classes again.
He was waiting with a young crowd outside a trendy sneaker shop at the Beijing’s Workers’ Stadium, in the heart of the upmarket Sanlitun shopping district, for the release of new Nike Air Jordan sneakers, designed by US rapper and songwriter Travis Scott. The previous pair of footwear designed by the Houston-born rapper is highly sought after among sneaker fans and sells for up to USD 2,000 in the secondary market..
