SNEAKER RESELLING IS THE NEW STARTUP BUSINESS OF CHOICE

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The UK’s resale market; originally derived from the US, is continuously thriving with great demand for highly lusted over limited edition sneakers. It is quickly becoming an enticing prospect for even younger “Sneakerheads” who are hoping to make a profit by buying and selling the rarest kicks.

Sneaker releases are being hijacked by the resellers, who will queue up for hours and even pay people to jump online at the time of release to grab as many pairs of sneakers as possible and then put them on ebay, Instagram and even take them to sneaker events to sell them, with a huge mark up value, creating a monopoly in the sneaker game and a nice profitable underground economy.

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One famous example of this would be Kanye West’s final collab with Nike for the Nike Air Yeezy 2 Red Octobers that were released last year; with the retail price of £149.99. They were sold out within 11 minutes and even now, buyers on Ebay are asking for as much as £8,000 for a pair.

With the majority of sellers being under the age of 23, it is a great opportunity to get people involved in business from early on, and to encourage their hustle. By investing in their passion; not only will it build their confidence, it will also prepare them for their future careers in the adult world.

Words: Sanna Hamasaied

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