Last night (June 13), ABC’s Nightline aired a special segment on the sneaker game. The eight minute profile titled “Sneakerheads: Inside the World of High-Stakes Sneaker Trading” tackled the “after market boom of limited edition kicks.”
Reports ABC News:
It all started with Michael Jordan. In the ’80s, when Nike convinced us Air Jordans could make us fly, having them on your feet became a status symbol. To some, the shoes were worth whatever price it took — including murder
In 1989, one boy was strangled for his pair of Jordans. Another kid was shot. The story hit the front page of “Sports Illustrated.”
Since then, the size of the athletic shoe market has more than doubled to $21 billion a year in the United States alone, which is why Alex and his father, John Asfar, can be found leaving their house in Middletown, N.J., at 6 a.m. on a Saturday to drive to a sneaker convention an hour away in New York City. Along the way, they picked up Alex’s friend and fellow sneakerhead, Brian.
The piece looked at teens making money off their sneaker fetishes. “It’s for the love of the game. It’s a cycle. Buy, sell, trade; it’s kind of a hobby. It’s more of an addiction,” said Brandon Buscanera. He’s 12-years old.
Worth noting, take note of the cribs these teens sneakerheads are walking out of in the morning. Their parents are clearly very well off. The hustle involves all sorts of demographics.
DJ Clark Kent also gets profiled and talks about the hypebeasting, the after market price inflation and what it would take to get prices in control.
Check out the full Nightline report below.