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The Sneaker Resale Market Is Broken

Oversupply of once-hyped sneakers like Jordans has caused resale prices to plummet, pushing smaller platforms out of the market and sending the bigger players scrambling to adapt.
Shelves of sneakers
Many once-coveted sneakers which traded at a premium on the secondary market are now cheaper and readily available to buy in high street retailers or directly from brands themselves. (Getty Images)
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BoF PROFESSIONAL

Last fall, two of Europe’s largest sneaker marketplaces, Netherlands-based Restocks and France’s Kikikickz, filed for bankruptcy. To the casual observer, their failure appeared to come out of nowhere: Both companies continued to list Jordans and Yeezys for sale while churning out an endless stream of content on TikTok, right up until they shut down and sold off their assets to pay creditors.

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Further Reading

How Nike Ran Off Course

Nike is experiencing its worst slump in a decade, even as its competitors thrive. Insiders, athletes and fans pin the blame on changes made over the last few years that led to stalling innovation, disruptive restructurings and uninspired marketing.

About the author
Daniel-Yaw Miller

Daniel-Yaw Miller is a contributing writer at The Business of Fashion. Miller is a New York based journalist, editor and advisor who specialises in sports, fashion and business.

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