If you’re ever in New York City and want to have your mind blown, swing by Flight Club on Broadway just sound of Union Square. It’s a Mecca for sneakerheads, with literally every single special edition Nike or Jordan you can imagine lining the store’s walls. You’ll have sticker shock when you see that pair of Air Pippens or Air Uptempos you bought in 1995 at your local mall’s Finish Line selling for a couple hundred dollars to NYC sneakerheads with oodles of disposable income.
There’s no doubt sneaker hype is hotter than ever right now. Foot Locker and specialty stores routinely have lines around the block here in NYC on release day. Hell, one guy was slashed during a Supreme store release a few weeks ago, right around the block from our office.
Over on YouTube, Business Insider did a really solid deep dive into the raw numbers of the sneaker reselling business. It’s estimated to be worth over $1 billion, which is substantial amount of money yet still small fries compared to the $55 billion annual in revenue generated by fresh kicks. An actor, Jason Hart, tells Business Insider that he’s pulling in six figures a year because “he has a guy on the inside” that helps him hustle the shoes in the reselling marketplace.
It’s worth the watch. Millionaire entrepreneur/investor Gary Vaynerchuk literally talked about the reselling hustle a couple days ago on The Breakfast Club. Buy low, sell high is literally the easiest way in the universe to make money as long as you have the drive.