Want To Get Rich Quick Reselling Sneakers? These Guys Want To Help
All these stories start the same way: with a pair of sneakers purchased for the retail price, and then flipped for a profit. They start this way because odds are you, or someone you know, has done this very thing, or will very soon. And the odds are decent, too, that your path to that cash, or your brother’s or your cousin’s, has resembled one of a handful of proven methods, whether it involves seed capital from the Bank of Dad or a little bit of gentle corporate hacking. Because as the secondary sneaker market has swelled to somewhere in the range of a $2 billion market with the potential to reach $6 billion by 2025, according to investment bank Cowen, it’s turned into a boondoggle for everyone involved. The sneaker resale platform Goat acquired Flight Club last year and then received a $100 million investment from Foot Locker in February. StockX, where people can sell sneakers alongside watches and streetwear, is now valued at over $1 billion dollars. But those profits are also trickling downwards, where a cottage industry is forming, eager to reap the profits of sneaker reselling. Below are the group of people you meet when you start flipping sneakers for profit. They are entrepreneurs who want to make you rich, and just might succeed. But don’t mistake them for benevolent—teaching you how to flip a half-dozen pairs of Yeezys will make them phenomenally wealthy, too. Read more at GQ.
