WHY SNEAKER CULTURE IS BECOMING AN INVESTMENT ON PAR WITH ART

Canadian's $1M sneaker collection purchase is an example of how footwear is now viewed by investors

Sneakertopia, L.A.'s first sneaker pop-up museum, is showcasing some of the world's most sought-after shoes, which are also attracting high-end investors. (Zulekha Nathoo/CBC)

Pricey and limited edition sneakers can have people waiting in line for hours to get their hands on a pair. But unique kicks are no longer just private streetwear collectibles — they’re increasingly being recognized as a form of art.

“There’s a lot more energy around the buying, selling and making money off of sneakers than there used to be,” said Meredydd Hardie, a Toronto-based sneaker blogger with a dedicated Instagram following.

“A lot fewer people are buying to wear and a lot more people are buying to sell.”

StockX, a high-end sneaker resale company based in Detroit, recently reached a jaw-dropping $1 billion US valuation, proving how robust the global market is.

And that’s only the beginning.

LEAVE A REPLY