Visit NetSuite.com/ModernMBA to sign up for their one-of-a-kind flexible financing offer. 0:00 Rise of Sneakers 2:58 Sponsor Break (Netsuite) 4:40 The Young Gun 23:13 The Grizzled King Leo & Courtside Hollywood: instagram.com/909sell/ instagram.com/courtsidehollywood/ 📍 6801 Hollywood Blvd Fl 2, Ste 277 Hollywood, CA 90028 Justin & Legacy Boutique: legacy-ny.com instagram.com/legacy.newyorkcity/ 📍1 W 34th St. Frnt 1, New York, NY 10001
Would love an overview like this about gunshows/firearms market. You think sneaker market is intricate, firearms enthusiasts can be on another level of tedious
📣 I miss your OLD video style! This topic was interesting, and I appreciate you trying out new video styles, but I feel like we didn't actually get a true analysis of the overall sneaker market like the title promises. We mostly just got to follow a couple of industry pros for the day. These close-up, documentary videos that follow business owners are okay, but your original style of examin ng larger business and presenting thoroughly researched information into well thought out opinions was AMAZING and what originally drew me in. Perhaps you can find a way to incorporate both styles on each subject? Perhaps 2 separate videos on each topic?
🤗 Hey! I LOVE you thoughtful analysis, and I would LOVE for you to do a video on: 1. The luxury floral design market. 2. The luxury wedding market. 3. The floral design market in general. 4. The wedding market in general. 5. The retail vs floral design market. 6. Luxury goods.
The kids like me who were in highschool in 2014-2018 all grew up. Now that we made money flipping sneakers, we’re moving into grown man stuff like watches. You’ll notice the watch market is becoming like the sneaker business was except watches were the original material asset- so the game has been written already. You should make a video on the watch grey market.
Im happy to see this bubble burst! I hate resellers and miss the days of being able to go to the mall and purchase sneakers w/o the added BS shit is so nostalgic now. Remember my mom use to allow me to go to school late just so we could go get the new Jordan’s.
True words. Resellers killed the Sneaker culture. I have a bunch of Jordans in the OG colourways, never paid more then stock price. Also, i See so many children with Fake AJ1 und Fake AJ4s. So, you will never See me wearing a hyped Shoe.
only in the west, those brands are woke in the real world. you ride Harleys drink Starbucks toped of with KFC before golf. We do beach parties have a barby then club until 4 am with no tax. We sleep on weekends after 5 days of binging before work and after.
I don't pay any attention to all this hype. I simply buy my shoes from Costco and they do just fine. Why waste your time on sneakers when you can use your time to earn money and help society? People all around us are doing very poorly. We need to help each other. And not waste time and money on sneakers.
@@michaelblasius7705 your mind is the size of a walnut if this tiny niche industry is enough proof for you to disagree with something that always has positive effects when deployed practically or studided academically
i dont have respect for the sneaker scene at all but that first guy with his dedication to learning the market is impressive. Even if the sneaker business eventually dies out, the skills he learn can be adaptable and will make him successful in any market
I think it’s a great example of a core lesson of this channel which is that so much of entrepreneurship is just learning the market, being invested, and trying something other people don’t usually do. No need for some crazy world-saving idea.
Leo strikes me as a guy who'll be successful anywhere life takes him. I can sense his passion for sneakers but it's backed up by his shrewd business acumen. At 21 he should be really proud of himself
he is absolute beast. i think sneaker worship is crazy (and many are objectively ugly) but it's always nice to see someone being very good at what they do
The skill he has is knowing what something is really worry and not allowing himself to let any hype / excitement change that number. It is easier said than done. Awesome dude.
Dude, I like your channel before, when it was mostly you talking about charts and outlining business strategies. But, this content, with ACTUAL business owners, takes it next level. This was genius. You deliver the same interesting content, but humanize it and that makes all the difference.
@crasyman101 try 20. I'm simply saying that paying for anything over retail is ridiculous. Their factory is located in my father's hometow, so I know it's much less. Fake or authentic, they're all made in the same place, so it doesn't make a difference except for QC. Plus, nike always has sales anyway. For instance, their AJ line usually go for $200 but during sales season, the original Jordan line go for sub 150, while the newer ones go under 90. So yeah not worth paying premium money for low quality leather, some are fake even.
@@Dogo.RThis logic applies to every single thing that appreciates, Why does a yellow piece of metal appreciate in value? Cause its rare? But isn't platinum much more rare? Why does gold fluctuate more than platinum? The answer to all this is, *IT IS WHAT IT IS BRUV*
This is really the most old-school kind of business imaginable - a stall where the skill-set is simply knowing your product and knowing the market. You can imagine an almost identical kind of business operating in ancient Babylon dealing in furs or jewellery.
What Nike did in the past few years turned me off from their shoes. Limited releases only through the sneaker app. Their clothing is also way too overpriced for fast fashion. I also have no sympathy for resellers whatsoever. Having used shoes in stores tho is an interesting concept.
And the quality of their clothing has gone down so much. I have the same shirt bought 10 years apart. The older one is of course faded but way better quality, much thicker cotton. And some shorts I bought had threads coming loose after the first watch.
@@mrdeebo313 back then it was all made in China who has decades of manufacturing infrastructure to supply high quality but cheap cost production. Now Nike is manufacturing in a mess of countries that lack reliable material sourcing and skilled labor like Vietnam, Sri Lanka, Cambodia, Bangladesh, India, Paskitan, Jordan etc. which brings up costs but doesn't even provide the same kind of quality
@@mrdeebo313 I have a pair of Nike joggers I bought in 2014 and those suckers still look brand new. Around when do you think the quality started degrading?
insane pivot on the channel, loving the new format for these videos spending time with different business owners, really cool man, this will end up on netflix
@@nile7999 the fact that it could be effectively unlimited is what makes the market unreliable. Especially in economic down turns consumer brands that dabble in more premium designer options will suffer since the consumer is the one that gets picky when finances are lean. This gets exponential when you’re a reseller of higher end goods since you need lots of inventory which takes time to build but after you’ve built that up the economy could turn and half your customers just got priced out of the market, so you have to lower prices to move inventory at a loss or risk being eaten by storage costs.
I think another important factor besides the crash of reselling is the fact that Nike's quality has drastically dropped, so people are buying less of their shoes to actually wear for themselves; especially running shoes. There are so many brands that make really good quality running shoes that are waaaay better than Nike.
Indeed. Life long runner in my 30s, here. I was always more of a Brooks or Saucony guy, anyway, but it's sad that a company literally started for runners has so overwhelmingly turned their back on the sport.
This channel is a true gem and is highly underrated. As an engineering student aspiring to break into corporate strategy these videos genuinely teach me an incredible amount and make me feel like I’m not completely behind of business students applying to similar roles!
This entire sneaker culture seems mildly insufferable The fact sales started declining when people stopped getting stimulus checks tells you pretty much everything
@@jancovanderwesthuizen8070 BS…You could say the same thing about the automobile market, Most people just don’t have ancillary funds to spend on luxury items.
@@jancovanderwesthuizen8070 Could say the same thing about 99% of retail across the board. It’s not only broke people buying sneakers and luxury goods. Although it is a substantial portion. Lol
I would have appreciated if the video actually focuses on why the sneaker business is shrinking or why big brands are struggling e.g., Nike loses its market share. Not saying the focus on individual businesses is not interesting, but going from micro to macro would have wrap up the video nicely.
1. Cost of living crisis. When I'm talking with friends everyone is saying their rent & energy went waaay up. So there's less money to spend on luxury goods. 2. Inflation. When I moved to London airmaxes were 125£. Now they are trying to sell them for 155/165£. And quality hasn't gone up, it's just greed from Nike. 3. If you have been long enough in the sneaker game, you can see trough their marketing. You can deny customers for so long access to sought after sneakers, at some point people will just stop caring. I have had maybe 4 wins in 7 years trough Nike SNKRS app. It's just getting a bit jarring, and when you have 100 shoes in your closet, there's no reason to chase every drop.
Also for Nike at least in the UK closed so many of their own retail store and sold in store like JD. This has been a problem as consumers watching their spending saw how much more expensive nice products are compared to other brands, have been opting to not buy Nike.
I think the second part of the video addressed this. They mentioned how Nike is self-cannibalizing itself by rereleasing/excessively releasing shoes to make a quick buck but ultimately reducing the collectibility of a shoe and cheapening the brand. They also made a good point that the existing juggernaut, Jordan's, is no longer relatable to the new generation, hence shrinking their market.
I love and I’m obsessed with how you updated your channel with these like on the street like interviews with people actively working in the business area that you’re talking about this was such a great update to the channel and so interesting
@@RizZRizZ- he got an oracle advertismenet sponsorship. Pretty strage given that I would think that the software would be targeted audience would be towards busiensses not random finance enthisiasts.
I love it how these business "experts" (?) always immediately know why something happened (likes the sales of sneakers dropping) without doing any research.
I mean all it really takes is checking footlocker or Nike app and see what shoes are sitting and which ones are selling out lol. Not so hard tbh. And then there’s goat and stock x too. And there’s a lot of sneaker review videos which also give you an idea on how hype or not hype the shoes are. Checking comments under shoe posts also helps get an idea of how many people like the shoe and how many people hate a shoe/shoes. (I follow release pages on instagram) lololol. So you always see the “these are fire” comments or “trash,pass,🥱” comments on ones
Been loving this type of content, thank you for your in depth insight/analysis and shoutout to all the guys who allowed themselves to be followed & interviewed.
I think Sneakerheads are stupid, but this was a fantastic well detailed video, with lots of explanation about why someone would be a shoe collector. Subscribed !!
I don't have a problem with sneakerheads but lets be real, most "Sneakerheads" were fad loving hypebeast trying to flex on how much money they spent on sneakers and how exclusive and rare their sneakers were.
Its really weird how the sneaker market peaked in the pandemic. We were all literally at home and cant go out so we couldnt even wear them as often lol.
The rapid decline of both the sneakers and luxury goods market began in tandem post-pandemic lock downs as people were spending less on non-essential items and services. This happened because government stimulus payments ended, the stagnation of wage growth, unemployment rate rises, interest rate rises, and inflation rate rises; thus reducing people's ability to borrow and spend.
Yeah or everyone moved to cars. My Mr2’s jumped $3k in value this year alone and salvage title is300’s are being asked for $6k. if the car is rwd expect to pay extra tax these days
21 year old here. It can’t be overstated how much consumers have changed in 10 years (from my perspective). Absolutely love fashion and clothing. I got into it really heavy in 2016-17ish with the kinds of Nikes and Adidas that were turning crazy profits for resellers. Prior to that, Basketball served a large inspiration for my interest in sneakers (as is the case for many). Quickly you realize trends come and go. One minute Adidas boost sneakers are in, the next they are not. Both brands and resellers are constantly testing the market between demand and supply. Personally (and I think this is a growing sentiment) the internet has opened even more avenues for people to find like minded fashion and sneaker creators/influencers. In that shift, less people are gravitating towards sneakers specifically as their main footwear choice. This has happened to me. I see them as too casual or not mature enough at times (although I still love wearing them on occasion). Simply put, consumers are changing more and more quickly these days.
New balance deserves a whole hell of a lot of credit for what they’ve been able to accomplish in these last 3-4 years now. Not just because they’re obviously the quality leader in their field, but they’ve been turning out some amazing new designs that no other brand has even came close to matching! In my own personal opinion of course!
Great analysis, but there’s another reason: the quality has gone downhill. The Nikes I bought 9 years ago and used probably thousands of times in the gym look more solid than the Nikes I bought 6 months ago and have only used for walking outside. I still use the 9-year-old Pegasus in the gym. They’ve lost their ‘thing.
That is a very weird statement. Using shoes outside is usualy significantly harder on them than ina clean, controled indoor enviroment. I'd be very suprised if any pair of shoes didn't last at least 2-3 times as long when used indoors
For me it was nostalgia, buying all the shoes I couldn't afford as a kid. But yeah Nike is charging ultra premium prices for, in many cases, subpar quality goods. I'm out.
They are easily Influenced. Adidas have recently gained popularity with alot of ladies in the UK lately. Not because they woke up and all decided they were cool. They were in fashion magazines and some famous people started wearing them and the consumers all wanted to be like them.
They're probably barely used, and it can save people hundreds on their favorite pair. I bet you think spending several hundred on shoes in general is nuts, and I don't blame you.
Many people have a hobby that they spend an amount of money on that a non-enthusiast would think is ridiculous - video games, clothes, fishing gear, hiking trips, photography, sailing / boating, automotive, jewelry, watches, bicycles, the list goes on and on
I would understand it if people were buying high quality, hand made shoes. Nike pays on average 27 dollars for production and transport of a pair of their shoes.
@@Keys-jh6js It's different though. A mass produced sneaker shoe made in Vietnam or China costs about $25 to make on the mid-high end of the scale. Watches, boats, some bicycles, jewelry take extremely specialized factories, materials, highly skilled labor, R&D and engineering know-how to make so the cost is more justified. I get your point though.
@@Hhe448 Shoes keep your feet clean and safe from debris. Watches are smartphones with smaller screens and decaying batteries, or have moving parts, relatively few features, and lack Google Agenda integration.
It's cause they're basically cut from the same cloth despite what older people and elitists say. Gimmicks, designers, brand, materials, age and historical significance to the scene all play a role in it just like with watches.
For someone who's been collecting sneakers for almost 20 years, this is BY FAR the most detailed, comprehensive & accurate description of the current state of sneaker culture. You can really tell this dude took the time to do his research and actually learn about this issue he is covering. It's honestly refreshing.
Great video. The main takeaway being there isn’t a market for these shoes except for cultural consumers. The ones that have the attachment to the items are older or have the shoes already. And Nike re releasing shoes is hurting them. The younger generation only wants them for aesthetic purposes. It’s not sustainable other than being a middle man as the last guy stated. Their worth is their relevance to the people 🤷🏾♂️. During Covid people used their checks as an investment vehicle to get in. Thinking that if I buy it at this price, someone will buy it higher. Similar to how NFTs were pushed to the public. Covid was a wild time lol.
dam i just started this video im not even a sneakerhead and that 40 min just FLEW by, big respect to these two who hustle their craft, very cool to see their world
This is exactly why I got out of the sneaker game a long time ago. The whole idea for me was to rock dope shoes that nobody knows about. The only reason these sneakers go for ridiculous prices is because EVERYBODY knows what they are. I still have a shoe fetish, not just in sneakers but all types of footwear. But sneaker resellers really, really ruined my experiences in wearing particular shoes. Shoes for me is a fashion statement, not a ‘collectible’ commodity.
Agreed. The whole resell market pretty much killed the whole shoe game, it’s not about the love of sneakers anymore it’s more about the value of the sneaker and how much it’s worth. There’s still some of us out there that genuinely love sneakers, but these hypebeast and resellers ruin it for real sneaker enthusiasts by making it all about money and perceived value🤦♂️
I'm a female who's more interested in the Luxury business. What happened with sneakers is happening with luxury too. Resellers would charge crazy prices on watches, handbags and accessories and now inventory are sitting and no one wants 4k bags. While this is hobby and it's fun, some of us are in it for the long term and actually enjoy sneakers/luxuries. Glad this current climate is getting rid of the weeds, the true ones actually remains.
I'm a avid consumer in both markets and honestly, my resentment towards the resellers finally exploded into hate for the actual brands, my money is now only going towards the brands that stayed accessible through the crazy reseller days and didn't artificially constrain supply for the sake of hype.
The surge was fuelled by the upmarket street trend of the 2010s. Now the novelty of young people mixing luxury and low end fashion has run it's course there'll be another 10-20 years until the next wave of interest.
Both markets are based on trends, which is something you have to take advantage of while it’s popular because once that popularity runs its course then the products become valueless.
I love your videos but I really miss your more macro analyses. These are great but they're too micro and I think it's harder to gleam the same insights I used to get from your channel
This video is just excellent, from the interviews and the industry history/narrative to the editing and production (the retail/peak/now pricing in particular) - looking forward to learning more about other niche sectors!
I’ve been keeping this video off for 4 days, I thought I’d be corporate corporate corporate charts charts charts, but this’s really nice. Also, that kid Leo, is going places
This was a great look into the world of the sneeks and two pros who sell them. Appreciate their work ethic and how much they learned by making it happen. Great content!
Watching this makes me so happy I've gotten more and more out of trying to get hyped sneakers the last few years. So much less stress and headaches. I'm good with my comfortable runners and getting "heat" at retail only these days.
could you explain why you thought spending lots and lots of money on shoes with a production cost of around 10 dollars is a good idea? i am not trying to let you down, i just would like to understand what happened, because i always go for the cheapest shoes and so far have been very happy with it
This is a great analysis! As a sneakerhead and someone who dipped their toes in the reselling game during Covid and got out in late mid 2022; you hit the nail on the head .
What gets me is Nike doing 10,000 repaints of the same shoe 99.99% of every other market this would drive down the price but people keep paying top dollar like their buying the 1st edition of it.
For the longest time it felt like Nike was only catering to resellers which completely put me off from buying retro shoes. As I got older, I became far less likely to spend above retail for a pair of sneakers. I am glad these shoes are becoming more available once again like they were back in the day.
None of these shoes are even worth nearly the price they pay, Nike makes this junk for 5$ a pair and it's just a bunch of plastic stitched together, then flippers flip this plastic junk thinking its treasure while producing nothing for society.
@@bubbasanches4591with that reasoning, the mona lisa is only worth a couple bucks too as it's just some painting on a canvas. Nike also needs to pay its employees like shoe designers, etc. And just like the mona lisa, there is limited supply so there is value added because of the rarity via supply/demand
@@sebastienc.2257 that's why i dont buy hardly anything. but with these shoes, they are particularly bad because they are designed to look a certain way rather than to serve the original function of a shoe. i'm pretty sure all Nikes still have narrow toe boxes that deform or destroy feet
You could make a really compelling video on sports cards. Whether looking at it from the perspective of local card store owners who sell packs and boxes online and to their neighborhood or from the manufacturers who have gone from oligopolies in the 90’s to a duopoly today (Topps and Fanatics), it would make for great content. I have been a hobbyist for a long time and would happily connect you to people who fit into every segment.
That’s today’s sneaker culture in a nutshell. Purposely create scarcity and demand so people would buy shoes that were already overpriced at an even more overpriced price point so they can make a profit. It would be great if people would just stop buying and put them all out of business
Amazing video, I knew nothing about sneakers and now I feel like I could have an educated convo about it. The shade to the corp media was icing on the cake.
We all been heavy consummers of material things and items. And have spent and wasted alot of money and not saved enough im guilty of that. Only to have to re sell things that you paid for at lesser value to recoop not even fifty percent of what you spent in the past for these material things. Because of current hardships that show up every once in a while instead of having saved for rainy days. Lesson of the story is you live and you learn and with that being said its better to live below your means and live as frugal as possible. Less is more!😂
It was a perfect storm…Sneakers were everywhere on TH-cam…the kids ate it up…the hype…the yeezy hype combined with Travis Scott , off white and many other collabs drove hype and demand through the roof…Jordan’s , dunks and Nikes were always popular with kids …but after the “Last dance documentary “ combined with the extra money floating around during the pandemic caused a bubble that had to burst …it became a fad…and just like with every fad..the audience moved on…the wave was so big it drug some long time customers away…a lot has to do with comfort and affordability…with the way the economy is right now…people prefer a bargain and comfort over retros and over priced hype and style….to some of us though Jordan was never a fad…and there is a huge audience here….we just had a tsunami of hype beast come and go…Nike just needs to give what it’s true audience wants…Dope kicks
I remember around 1980 when Billy Joel would come out on stage wearing a sport jacket, blue jeans, and white tennis shoes. Oh so cool. Today, sneakers have outlived their coolness. I’m 67, and largely beyond worrying too much about fashion, but it’s been some years since I started feeling like a dork wearing sneakers beyond jogging or the most casual of situations.
What he should've done, is sold to the next generation and then exit out of the game himself.. but he didn't do that. So.... He should've found an actual entrepreneur... or buyers from NYC... and then find somebody else, that is hungry and is ready... Even if kids now do these systems.. and they themselves' don't buy. Then what is the point? Cos only the people who do.. would.. and at some point, there is more to life than sneakers, right?... So.... You just basically bumped yourself out of a life.
Leo has a clear passion for pre-owned shoes and a clear competitive edge when it comes to buying pre-owned, but this only makes up 20% of sales. He should be looking to boost this number as much as possible. I'm not a sneaker guy, but the name and look of courtside don't mesh with the idea of a pre-owned rare sneaker shop, instead it makes me think high-performance sport shoes. In my mind, if he really wants to focus on pre-owned, he needs to rebrand to make it obvious from the name that they are first and foremost about pre-owned, and straight up steal the vault that Legacy uses to draw people into the store and display from and center that you have impressive and rare items.
He’s not passionate about pre owned shoes hahahah. He’s capitalizing on pre owned shoes because the market shifted and the margins are higher. He’s passionate about staying in business.
I started reselling in 2013, buying 3-4 pairs. Each jordan would sell minimum $50-100 over retail. I started buying bots. Made $21,000 off a yeezy hit. Started and sold an ATC (Add to cart) company. Eventually the market declined bad after covid. Several reasons but the 3 biggest.. 1. Stock X. Before the prices were set by the actual market. Now everyone thinks stock x is the starting point for aby sale. Overall economy is down. No stimulus, no extra money. Lots of small time sellers customers that are willing to break even or only make $10-$20 because they are only investing $200. 2. Over production - Nike started remaking way to many retros, and releasing them at a rapid pace. This meant that if you missed on a hot new Jordan 1, another Jordan 1 would release a month later. Also Nike re-releasing classics. 3. Fakes : before buying and selling fakes was hard. They were hard to acquire (never have). But now you can order, 99% UAs for $60-100. Most people tend to go with the cheapest most convenient option.
![ประสบการณ์ จ้าง Developer ที่ผมจะไม่มีวันลืม [ภาค1]](http://i.ytimg.com/vi/bzivN4KDg-k/mqdefault.jpg)
Visit NetSuite.com/ModernMBA to sign up for their one-of-a-kind flexible financing offer.
0:00 Rise of Sneakers
2:58 Sponsor Break (Netsuite)
4:40 The Young Gun
23:13 The Grizzled King
Leo & Courtside Hollywood:
instagram.com/909sell/
instagram.com/courtsidehollywood/
📍 6801 Hollywood Blvd Fl 2, Ste 277 Hollywood, CA 90028
Justin & Legacy Boutique:
legacy-ny.com
instagram.com/legacy.newyorkcity/
📍1 W 34th St. Frnt 1, New York, NY 10001
Would love an overview like this about gunshows/firearms market. You think sneaker market is intricate, firearms enthusiasts can be on another level of tedious
📣 I miss your OLD video style!
This topic was interesting, and I appreciate you trying out new video styles, but I feel like we didn't actually get a true analysis of the overall sneaker market like the title promises. We mostly just got to follow a couple of industry pros for the day. These close-up, documentary videos that follow business owners are okay, but your original style of examin ng larger business and presenting thoroughly researched information into well thought out opinions was AMAZING and what originally drew me in.
Perhaps you can find a way to incorporate both styles on each subject? Perhaps 2 separate videos on each topic?
🤗 Hey! I LOVE you thoughtful analysis, and I would LOVE for you to do a video on:
1. The luxury floral design market.
2. The luxury wedding market.
3. The floral design market in general.
4. The wedding market in general.
5. The retail vs floral design market.
6. Luxury goods.
Appreciate the timestamps! Subbed!
The kids like me who were in highschool in 2014-2018 all grew up. Now that we made money flipping sneakers, we’re moving into grown man stuff like watches. You’ll notice the watch market is becoming like the sneaker business was except watches were the original material asset- so the game has been written already. You should make a video on the watch grey market.
Calling the financial reporters amateurs right off the rip ‼️ going to be a fire video
Love this
Oh yeah😂😂😂😂🔥🔥🔥
YEAH He did that 😀😀😀😀
Fr he's done his homework
Because those reporters look only at the number and charts, they don’t go out the field and do actual hand on research
Im happy to see this bubble burst! I hate resellers and miss the days of being able to go to the mall and purchase sneakers w/o the added BS shit is so nostalgic now. Remember my mom use to allow me to go to school late just so we could go get the new Jordan’s.
Those days never left. Love my rack room shoes bogo Brooks and nikes.
True words. Resellers killed the Sneaker culture.
I have a bunch of Jordans in the OG colourways, never paid more then stock price.
Also, i See so many children with Fake AJ1 und Fake AJ4s. So, you will never See me wearing a hyped Shoe.
only in the west, those brands are woke in the real world. you ride Harleys drink Starbucks toped of with KFC before golf. We do beach parties have a barby then club until 4 am with no tax. We sleep on weekends after 5 days of binging before work and after.
I don't pay any attention to all this hype. I simply buy my shoes from Costco and they do just fine. Why waste your time on sneakers when you can use your time to earn money and help society? People all around us are doing very poorly. We need to help each other. And not waste time and money on sneakers.
Dude. Same. I don't buy sneakers often, but the crazy turns the market has taken has made me just avoid the biggest brands.
It's crazy that so many unemployed people in an uncertain economy thought it was a good idea to spend $400 on sneakers.
Pretty much explains how UBI will not solve our problems.
Dude, it's a collab.
@@michaelblasius7705 UBI is not the same as a temporary stimulus.
Lot of People buying sneakers are 100k+ earners 😂 as they didn’t know what to spend on during lockdown
@@michaelblasius7705 your mind is the size of a walnut if this tiny niche industry is enough proof for you to disagree with something that always has positive effects when deployed practically or studided academically
i dont have respect for the sneaker scene at all but that first guy with his dedication to learning the market is impressive. Even if the sneaker business eventually dies out, the skills he learn can be adaptable and will make him successful in any market
What are the best markets that he should use his skills in?
@@zojirushi1handbags
@@aoe4_kachow A HANDBAG?! th-cam.com/video/oVQIB-QuooU/w-d-xo.html
I think it’s a great example of a core lesson of this channel which is that so much of entrepreneurship is just learning the market, being invested, and trying something other people don’t usually do. No need for some crazy world-saving idea.
@@DF-wl8nj exactly.. dont be greedy.. 'Bears make money.. Bulls make money.. Pigs get slaughtered'
Leo strikes me as a guy who'll be successful anywhere life takes him. I can sense his passion for sneakers but it's backed up by his shrewd business acumen. At 21 he should be really proud of himself
he is absolute beast. i think sneaker worship is crazy (and many are objectively ugly) but it's always nice to see someone being very good at what they do
I feel like his talent is being wasted on shoes. He's way too smart. He should get into real estate / watches / stocks etc
The skill he has is knowing what something is really worry and not allowing himself to let any hype / excitement change that number. It is easier said than done. Awesome dude.
@@nagasako7 all of which are down, I mean you can make money on commodities ..but yeah, stocks are very tough to profit these days
@@nagasako7 was thinking the same thing. Why is he nickle and diming, negotiating $10. Waste of time.
This is better than Netflix produced videos. Bravo man. Amazing work
Ikr! This is excellent stuff
nahh fr Netflix just has a higher budget but most of their documentaries are over edited low iq slop
This only means other YT content creators will steal it.
Dude, I like your channel before, when it was mostly you talking about charts and outlining business strategies.
But, this content, with ACTUAL business owners, takes it next level. This was genius. You deliver the same interesting content, but humanize it and that makes all the difference.
Had me in the first half HAHAHA.
It’s funny watching this video as a man with a size 17 shoe size and learning I’m essentially out of the designer sneaker market. That kind of sucks.
No one is out here doing these industry specific exposes like Modern MBA. The level of depth in these videos is incredible. True journalism.
Leo is 21 but haggles like my asian mom on the market. Great skill and will grow up very promising.
until everything becomes digital... which is what is happening.
Best haggler of today vs Best haggler of history
GessHow Muchai Peydfur Deese!
I love the coin flips lol
He haggling on Instagram too right?
Charging $900 for a pair of $110 shoes is why I hate resellers.
The price is only 110 because Nike said so. They made the shoe for 30$ max
@crasyman101 try 20. I'm simply saying that paying for anything over retail is ridiculous. Their factory is located in my father's hometow, so I know it's much less. Fake or authentic, they're all made in the same place, so it doesn't make a difference except for QC. Plus, nike always has sales anyway. For instance, their AJ line usually go for $200 but during sales season, the original Jordan line go for sub 150, while the newer ones go under 90. So yeah not worth paying premium money for low quality leather, some are fake even.
Suckas follow
Blame the people buying them not the sellers. Some people really love sneakers so is their fault if they get scammed.
Its like every other collectible.
It doesn't matter how tough things get, that first guy will always be in the game. His is an art not just a business
That dude should be hired by any company needing a good negotiator, he's a rock.
NFTS...
"it's an appreciating asset bro"
Why?
"it just is bro"
@@Dogo.RThis logic applies to every single thing that appreciates, Why does a yellow piece of metal appreciate in value? Cause its rare? But isn't platinum much more rare? Why does gold fluctuate more than platinum? The answer to all this is, *IT IS WHAT IT IS BRUV*
@@odiamafia It's actually useful because of its properties and not just because it is bruv.
This is really the most old-school kind of business imaginable - a stall where the skill-set is simply knowing your product and knowing the market.
You can imagine an almost identical kind of business operating in ancient Babylon dealing in furs or jewellery.
Babylon still deal like this. Nothing has changed. I love shopping the markets when I go.
I love how much this video actually cared about understanding the market, and not just an assumption.
Great vid btw
The sneaker head scene is like watching a bunch of middle school boys in Tapout gear learning to negotiate for the first time
What Nike did in the past few years turned me off from their shoes. Limited releases only through the sneaker app. Their clothing is also way too overpriced for fast fashion. I also have no sympathy for resellers whatsoever.
Having used shoes in stores tho is an interesting concept.
And the quality of their clothing has gone down so much. I have the same shirt bought 10 years apart. The older one is of course faded but way better quality, much thicker cotton. And some shorts I bought had threads coming loose after the first watch.
@@mrdeebo313 back then it was all made in China who has decades of manufacturing infrastructure to supply high quality but cheap cost production. Now Nike is manufacturing in a mess of countries that lack reliable material sourcing and skilled labor like Vietnam, Sri Lanka, Cambodia, Bangladesh, India, Paskitan, Jordan etc. which brings up costs but doesn't even provide the same kind of quality
@@mrdeebo313 I have a pair of Nike joggers I bought in 2014 and those suckers still look brand new. Around when do you think the quality started degrading?
insane pivot on the channel, loving the new format for these videos spending time with different business owners, really cool man, this will end up on netflix
Really cool that you got so much detail on the biz from Leo! Nice work man
The supply of sneakers are unlimited. People believe that shoes are a valuable asset is ridiculous.
it's not unlimited, companies control supply and obviously they'll limit it to make their shoes more valuable
@@nile7999 the fact that it could be effectively unlimited is what makes the market unreliable. Especially in economic down turns consumer brands that dabble in more premium designer options will suffer since the consumer is the one that gets picky when finances are lean. This gets exponential when you’re a reseller of higher end goods since you need lots of inventory which takes time to build but after you’ve built that up the economy could turn and half your customers just got priced out of the market, so you have to lower prices to move inventory at a loss or risk being eaten by storage costs.
Still, if kept for years in inventory fake market will boom. It is not a mutiuse commodity.
I think another important factor besides the crash of reselling is the fact that Nike's quality has drastically dropped, so people are buying less of their shoes to actually wear for themselves; especially running shoes. There are so many brands that make really good quality running shoes that are waaaay better than Nike.
Indeed. Life long runner in my 30s, here. I was always more of a Brooks or Saucony guy, anyway, but it's sad that a company literally started for runners has so overwhelmingly turned their back on the sport.
This channel is a true gem and is highly underrated. As an engineering student aspiring to break into corporate strategy these videos genuinely teach me an incredible amount and make me feel like I’m not completely behind of business students applying to similar roles!
This entire sneaker culture seems mildly insufferable
The fact sales started declining when people stopped getting stimulus checks tells you pretty much everything
Lmaooooo
@@jancovanderwesthuizen8070 BS…You could say the same thing about the automobile market, Most people just don’t have ancillary funds to spend on luxury items.
Bingo!
its all correlated perfectly with money creation, or interest rates.
@@jancovanderwesthuizen8070 Could say the same thing about 99% of retail across the board. It’s not only broke people buying sneakers and luxury goods. Although it is a substantial portion. Lol
Got huge respect for Leo, and I'm glad he gave you so much to work with! Good on him for diversifying into apparel as well.
I would have appreciated if the video actually focuses on why the sneaker business is shrinking or why big brands are struggling e.g., Nike loses its market share. Not saying the focus on individual businesses is not interesting, but going from micro to macro would have wrap up the video nicely.
Same. The video was interesting, but I'm still disappointed because I didn't get to see what we were told we were going to see.
1. Cost of living crisis. When I'm talking with friends everyone is saying their rent & energy went waaay up. So there's less money to spend on luxury goods.
2. Inflation. When I moved to London airmaxes were 125£. Now they are trying to sell them for 155/165£. And quality hasn't gone up, it's just greed from Nike.
3. If you have been long enough in the sneaker game, you can see trough their marketing. You can deny customers for so long access to sought after sneakers, at some point people will just stop caring. I have had maybe 4 wins in 7 years trough Nike SNKRS app. It's just getting a bit jarring, and when you have 100 shoes in your closet, there's no reason to chase every drop.
@@kingart23 Thanks my dude, you should make this as a video instead 😆
Also for Nike at least in the UK closed so many of their own retail store and sold in store like JD. This has been a problem as consumers watching their spending saw how much more expensive nice products are compared to other brands, have been opting to not buy Nike.
I think the second part of the video addressed this. They mentioned how Nike is self-cannibalizing itself by rereleasing/excessively releasing shoes to make a quick buck but ultimately reducing the collectibility of a shoe and cheapening the brand. They also made a good point that the existing juggernaut, Jordan's, is no longer relatable to the new generation, hence shrinking their market.
His demeanor while negotiating is lethal
I love these videos providing insight into how businesses (local or otherwise) operate. Please keep making them!!!
I love and I’m obsessed with how you updated your channel with these like on the street like interviews with people actively working in the business area that you’re talking about this was such a great update to the channel and so interesting
Damn the oracle integration is the ultimate flex for a business TH-camr.
that's what i was thinking lmao
Wdym?
@@RizZRizZ- he got an oracle advertismenet sponsorship. Pretty strage given that I would think that the software would be targeted audience would be towards busiensses not random finance enthisiasts.
Most underrated channel on TH-cam
It's so impressive that he can research and interview many different industries.
I love it how these business "experts" (?) always immediately know why something happened (likes the sales of sneakers dropping) without doing any research.
Fashion is to a large degree about perception and intuition, hard to break down only to a spread sheet.
If you sell sneakers to 10 people per day making the same joke about blowing their stimmy check, you're gathering data just like a researcher would
I mean all it really takes is checking footlocker or Nike app and see what shoes are sitting and which ones are selling out lol. Not so hard tbh. And then there’s goat and stock x too. And there’s a lot of sneaker review videos which also give you an idea on how hype or not hype the shoes are. Checking comments under shoe posts also helps get an idea of how many people like the shoe and how many people hate a shoe/shoes. (I follow release pages on instagram) lololol. So you always see the “these are fire” comments or “trash,pass,🥱” comments on ones
What do you mean @@willpeterson3943
@@willpeterson3943 uh huh, because rich kids don't buy sneakers either
Been loving this type of content, thank you for your in depth insight/analysis and shoutout to all the guys who allowed themselves to be followed & interviewed.
The coin flip thing was fascinating, I've never heard of that as a price negotiating tactic!
Your videos are so fun to eat to
I like to listen to his videos on my way to work too
I just ate pizza
@@aoe4_kachowyum
Absolutely. I only watch his stuff if I have a good meal to go with it.
real
Leo is TWINTY ONE?!? Wow! He is wise beyond his years 😮 Much success to him! ❤
yeh that was a wild moment in the video!!
Never been so embarrassed as a 23 year old 😭 so many people younger than me out there just killing it
@@mind-of-neo shit dude. 23? Shit's over for you already. I am 15 and getting into the game right now. Want to be a millionaire with 18 latest.
I thought you were being a bit cocky calling the punters amateur but I didn't expect you to knock it out of the park like this. Solid video man!
I think Sneakerheads are stupid, but this was a fantastic well detailed video, with lots of explanation about why someone would be a shoe collector. Subscribed !!
I don't have a problem with sneakerheads but lets be real, most "Sneakerheads" were fad loving hypebeast trying to flex on how much money they spent on sneakers and how exclusive and rare their sneakers were.
I was just looking for 40 minutes of non-stop vocal fry, so glad I found this video
I really love these documentary style personal videos. Feels like I'm watching Vice but actually good
Its really weird how the sneaker market peaked in the pandemic. We were all literally at home and cant go out so we couldnt even wear them as often lol.
Same with pet market
Stimulus checks
Yeah, but they could post Instagram photos and tik tok videos.
The rapid decline of both the sneakers and luxury goods market began in tandem post-pandemic lock downs as people were spending less on non-essential items and services. This happened because government stimulus payments ended, the stagnation of wage growth, unemployment rate rises, interest rate rises, and inflation rate rises; thus reducing people's ability to borrow and spend.
Yeah or everyone moved to cars. My Mr2’s jumped $3k in value this year alone and salvage title is300’s are being asked for $6k. if the car is rwd expect to pay extra tax these days
@@Malice_dollnah people moved to anything that they can resell or a job
21 year old here. It can’t be overstated how much consumers have changed in 10 years (from my perspective).
Absolutely love fashion and clothing. I got into it really heavy in 2016-17ish with the kinds of Nikes and Adidas that were turning crazy profits for resellers. Prior to that, Basketball served a large inspiration for my interest in sneakers (as is the case for many).
Quickly you realize trends come and go. One minute Adidas boost sneakers are in, the next they are not. Both brands and resellers are constantly testing the market between demand and supply.
Personally (and I think this is a growing sentiment) the internet has opened even more avenues for people to find like minded fashion and sneaker creators/influencers. In that shift, less people are gravitating towards sneakers specifically as their main footwear choice. This has happened to me. I see them as too casual or not mature enough at times (although I still love wearing them on occasion).
Simply put, consumers are changing more and more quickly these days.
EVERYY1 CHANGED... no longer does a physical product need.... hence the rise of digital goods.
@@jamesnguyen7069digital sneakers?
What are you wearing instead?
@@nikilragav Usually boots and derby’s. Cowboy boots, work boots, doc marten type stuff. Vintage Americana inspired stuff mostly
Interesting.
Mans went straight for the jugular in those opening minutes 😂😂
New balance deserves a whole hell of a lot of credit for what they’ve been able to accomplish in these last 3-4 years now. Not just because they’re obviously the quality leader in their field, but they’ve been turning out some amazing new designs that no other brand has even came close to matching!
In my own personal opinion of course!
Joe fresh goods is the guys for that
Great analysis, but there’s another reason: the quality has gone downhill. The Nikes I bought 9 years ago and used probably thousands of times in the gym look more solid than the Nikes I bought 6 months ago and have only used for walking outside. I still use the 9-year-old Pegasus in the gym. They’ve lost their ‘thing.
People said the same thing 9 years ago
That is a very weird statement. Using shoes outside is usualy significantly harder on them than ina clean, controled indoor enviroment. I'd be very suprised if any pair of shoes didn't last at least 2-3 times as long when used indoors
22:52 UNREAL this guy is 21.
I read this as they were saying it!
why? young brains are better than old, I actually expect that
I still don't understand why anyone would spend so much money on a pair of sneakers. I'm definitely not part of this market.
A sucker is born everyday
For me it was nostalgia, buying all the shoes I couldn't afford as a kid. But yeah Nike is charging ultra premium prices for, in many cases, subpar quality goods. I'm out.
They are easily Influenced. Adidas have recently gained popularity with alot of ladies in the UK lately. Not because they woke up and all decided they were cool. They were in fashion magazines and some famous people started wearing them and the consumers all wanted to be like them.
@@jacksmith5064 that's how any clothes you wear work. Didn't you ever see Devil Wears Prada lol
Maybe I am a bit too old. But paying few hundred bucks for a pair of used shoe seems crazy to me.
They're probably barely used, and it can save people hundreds on their favorite pair. I bet you think spending several hundred on shoes in general is nuts, and I don't blame you.
Many people have a hobby that they spend an amount of money on that a non-enthusiast would think is ridiculous - video games, clothes, fishing gear, hiking trips, photography, sailing / boating, automotive, jewelry, watches, bicycles, the list goes on and on
Not crazy but stupid.
I would understand it if people were buying high quality, hand made shoes. Nike pays on average 27 dollars for production and transport of a pair of their shoes.
@@Keys-jh6js It's different though. A mass produced sneaker shoe made in Vietnam or China costs about $25 to make on the mid-high end of the scale. Watches, boats, some bicycles, jewelry take extremely specialized factories, materials, highly skilled labor, R&D and engineering know-how to make so the cost is more justified. I get your point though.
A sneaker store opened in my town. A group of masked thugs smashed a stolen Kia into the front door and robbed it within 2 weeks.
Low key hilarious
We shouldn’t have to live with N behavior like this..
Democrat-run city I suppose?
Typical black behavior. And what did you do to ensure this doesn't happen again?
Democrat city?
Imagine being a sophomore in high school and having friends that loaned you $300 . Wow
I was thinking the same thing lol
simple analogy: hype died down
Havent watched the whole video yet but from there intro, there are quite a few parallels between the sneaker and luxury watch market
Except shoes are worthless. Watches aren’t.
@@Hhe448 Shoes keep your feet clean and safe from debris. Watches are smartphones with smaller screens and decaying batteries, or have moving parts, relatively few features, and lack Google Agenda integration.
@@Hhe448 If people pay for them, they have worth.
@@Hhe448both are supply and demand
It's cause they're basically cut from the same cloth despite what older people and elitists say.
Gimmicks, designers, brand, materials, age and historical significance to the scene all play a role in it just like with watches.
For someone who's been collecting sneakers for almost 20 years, this is BY FAR the most detailed, comprehensive & accurate description of the current state of sneaker culture. You can really tell this dude took the time to do his research and actually learn about this issue he is covering. It's honestly refreshing.
Great video. The main takeaway being there isn’t a market for these shoes except for cultural consumers. The ones that have the attachment to the items are older or have the shoes already. And Nike re releasing shoes is hurting them.
The younger generation only wants them for aesthetic purposes. It’s not sustainable other than being a middle man as the last guy stated. Their worth is their relevance to the people 🤷🏾♂️. During Covid people used their checks as an investment vehicle to get in. Thinking that if I buy it at this price, someone will buy it higher. Similar to how NFTs were pushed to the public.
Covid was a wild time lol.
Calls all the other people reporting on this armatures. Provides video evidence. God tier video.
dam i just started this video im not even a sneakerhead and that 40 min just FLEW by, big respect to these two who hustle their craft, very cool to see their world
This is exactly why I got out of the sneaker game a long time ago. The whole idea for me was to rock dope shoes that nobody knows about. The only reason these sneakers go for ridiculous prices is because EVERYBODY knows what they are. I still have a shoe fetish, not just in sneakers but all types of footwear. But sneaker resellers really, really ruined my experiences in wearing particular shoes. Shoes for me is a fashion statement, not a ‘collectible’ commodity.
Agreed. The whole resell market pretty much killed the whole shoe game, it’s not about the love of sneakers anymore it’s more about the value of the sneaker and how much it’s worth. There’s still some of us out there that genuinely love sneakers, but these hypebeast and resellers ruin it for real sneaker enthusiasts by making it all about money and perceived value🤦♂️
I'm a female who's more interested in the Luxury business. What happened with sneakers is happening with luxury too. Resellers would charge crazy prices on watches, handbags and accessories and now inventory are sitting and no one wants 4k bags. While this is hobby and it's fun, some of us are in it for the long term and actually enjoy sneakers/luxuries. Glad this current climate is getting rid of the weeds, the true ones actually remains.
Your whole sector is a weed.
Perfect comment.
I'm a avid consumer in both markets and honestly, my resentment towards the resellers finally exploded into hate for the actual brands, my money is now only going towards the brands that stayed accessible through the crazy reseller days and didn't artificially constrain supply for the sake of hype.
The surge was fuelled by the upmarket street trend of the 2010s. Now the novelty of young people mixing luxury and low end fashion has run it's course there'll be another 10-20 years until the next wave of interest.
Both markets are based on trends, which is something you have to take advantage of while it’s popular because once that popularity runs its course then the products become valueless.
I love your videos but I really miss your more macro analyses. These are great but they're too micro and I think it's harder to gleam the same insights I used to get from your channel
100% Agree, the new content isn’t bad but I really miss the old Modern MBA style 😢
Idk, I’m loving this style
He still does both types of videos
Feeling the same. I was so hyped expecting a macro Nike or market analysis instead of some super localized niche report.
that's fair but I think he switches off every video
Great job capturing the nuances of sneaker reselling and allowing experts to tell their stories and experiences. Loved this
Babe, wake up, new Modern MBA video dropped
Man this videos just keep getting better, kudos to the Modern MBA Team 👏
When Modern MBA beat 60 Minutes at their own game.
This video is just excellent, from the interviews and the industry history/narrative to the editing and production (the retail/peak/now pricing in particular) - looking forward to learning more about other niche sectors!
21 and already a legend in the game? Respect to the first guy, damn he inspirational.
he is smart.
I’ve been keeping this video off for 4 days, I thought I’d be corporate corporate corporate charts charts charts, but this’s really nice.
Also, that kid Leo, is going places
Went to Sneaker Con in Philly in 2023 and it was wildly disappointing and the asking price for shoes that looked fossilized was insane
This was a great look into the world of the sneeks and two pros who sell them. Appreciate their work ethic and how much they learned by making it happen. Great content!
Mad respect for Leo’s hustle. He’ll be just fine no matter what happens in the market.
Watching this makes me so happy I've gotten more and more out of trying to get hyped sneakers the last few years. So much less stress and headaches. I'm good with my comfortable runners and getting "heat" at retail only these days.
could you explain why you thought spending lots and lots of money on shoes with a production cost of around 10 dollars is a good idea? i am not trying to let you down, i just would like to understand what happened, because i always go for the cheapest shoes and so far have been very happy with it
I never not once have understood why these shoes were so valued.
Huge respect for Leo, and for your crafting of this video essay. Keep up the great job!
That Leo guy has the immemorial skills of merchants.
This is a great analysis! As a sneakerhead and someone who dipped their toes in the reselling game during Covid and got out in late mid 2022; you hit the nail on the head .
What gets me is Nike doing 10,000 repaints of the same shoe 99.99% of every other market this would drive down the price but people keep paying top dollar like their buying the 1st edition of it.
For the longest time it felt like Nike was only catering to resellers which completely put me off from buying retro shoes. As I got older, I became far less likely to spend above retail for a pair of sneakers. I am glad these shoes are becoming more available once again like they were back in the day.
The amount of time wasted and deals lost over $10 is the worst part of sneakers.
None of these shoes are even worth nearly the price they pay, Nike makes this junk for 5$ a pair and it's just a bunch of plastic stitched together, then flippers flip this plastic junk thinking its treasure while producing nothing for society.
@@bubbasanches4591with that reasoning, the mona lisa is only worth a couple bucks too as it's just some painting on a canvas. Nike also needs to pay its employees like shoe designers, etc. And just like the mona lisa, there is limited supply so there is value added because of the rarity via supply/demand
You can say that about every product we use outside of new tech
@@sebastienc.2257 that's why i dont buy hardly anything. but with these shoes, they are particularly bad because they are designed to look a certain way rather than to serve the original function of a shoe. i'm pretty sure all Nikes still have narrow toe boxes that deform or destroy feet
I mean it adds up. You can’t survive in the resell business without being a bit cut throat
You could make a really compelling video on sports cards. Whether looking at it from the perspective of local card store owners who sell packs and boxes online and to their neighborhood or from the manufacturers who have gone from oligopolies in the 90’s to a duopoly today (Topps and Fanatics), it would make for great content. I have been a hobbyist for a long time and would happily connect you to people who fit into every segment.
Send an email! Thanks for your support as always.
@@ModernMBAwill do
Man. This channel is so underrated and a gold mine of knowledge.
Buying something then selling it at a markup because you bought all of them. What a business
so, like Ticketb3ztrd.
That’s today’s sneaker culture in a nutshell. Purposely create scarcity and demand so people would buy shoes that were already overpriced at an even more overpriced price point so they can make a profit. It would be great if people would just stop buying and put them all out of business
The TicketMaster Formula
@@user-hm5zb1qn6g the thing is, there’s other places to get tickets not just Ticket Master. Sneakers are usually more limited
Amazing video, I knew nothing about sneakers and now I feel like I could have an educated convo about it. The shade to the corp media was icing on the cake.
Literally mental that 2 pairs of shoes can be valued the same as a smart phone.
This is the best vid modern MBA has made. Great quality and insight
The sports card market/ hobby is where it’s at.
This format was dope man, keep doing this
I work in an office. I only wear white shoes that cost less than $50. 😂
Stan Smiths? 🤣 (Hopefully the actual leather ones, when on sale.)
I buy $29.99 shoes at Costco :)
We all been heavy consummers of material things and items. And have spent and wasted alot of money and not saved enough im guilty of that. Only to have to re sell things that you paid for at lesser value to recoop not even fifty percent of what you spent in the past for these material things. Because of current hardships that show up every once in a while instead of having saved for rainy days. Lesson of the story is you live and you learn and with that being said its better to live below your means and live as frugal as possible. Less is more!😂
@@DoneDealAC I also wear my 2 sons’ out-of-favour leftover shoes 👟
I wear a $50 pair as well but i used to be a sucker who wore $200+ pairs.
another original! Amazing content, you truely are one of the very best channels on TH-cam
It was a perfect storm…Sneakers were everywhere on TH-cam…the kids ate it up…the hype…the yeezy hype combined with Travis Scott , off white and many other collabs drove hype and demand through the roof…Jordan’s , dunks and Nikes were always popular with kids …but after the “Last dance documentary “ combined with the extra money floating around during the pandemic caused a bubble that had to burst …it became a fad…and just like with every fad..the audience moved on…the wave was so big it drug some long time customers away…a lot has to do with comfort and affordability…with the way the economy is right now…people prefer a bargain and comfort over retros and over priced hype and style….to some of us though Jordan was never a fad…and there is a huge audience here….we just had a tsunami of hype beast come and go…Nike just needs to give what it’s true audience wants…Dope kicks
I’m always baffled as to how good the quality of videos on Modern MBA are.
I remember around 1980 when Billy Joel would come out on stage wearing a sport jacket, blue jeans, and white tennis shoes. Oh so cool. Today, sneakers have outlived their coolness. I’m 67, and largely beyond worrying too much about fashion, but it’s been some years since I started feeling like a dork wearing sneakers beyond jogging or the most casual of situations.
What he should've done, is sold to the next generation and then exit out of the game himself.. but he didn't do that. So.... He should've found an actual entrepreneur... or buyers from NYC... and then find somebody else, that is hungry and is ready... Even if kids now do these systems.. and they themselves' don't buy. Then what is the point? Cos only the people who do.. would.. and at some point, there is more to life than sneakers, right?... So.... You just basically bumped yourself out of a life.
Your episodes are soooo good.
I am not a sneaker head but learned so much from this and all your episodes.
Leo has a clear passion for pre-owned shoes and a clear competitive edge when it comes to buying pre-owned, but this only makes up 20% of sales. He should be looking to boost this number as much as possible. I'm not a sneaker guy, but the name and look of courtside don't mesh with the idea of a pre-owned rare sneaker shop, instead it makes me think high-performance sport shoes. In my mind, if he really wants to focus on pre-owned, he needs to rebrand to make it obvious from the name that they are first and foremost about pre-owned, and straight up steal the vault that Legacy uses to draw people into the store and display from and center that you have impressive and rare items.
He’s not passionate about pre owned shoes hahahah. He’s capitalizing on pre owned shoes because the market shifted and the margins are higher. He’s passionate about staying in business.
this is so well done. I am old sneaker enthusiast .., but I sold all my stuff well before the bubble burst.
Love the new documentary style
These interview-style videos give such a better perspective on the topics you cover. I love it!
Really fascinating. Respect Leo's hustle.
absolutely love these new style of vids. keep them coming
Always enjoy the watch, but this one was especially enjoyable. Great interviews and subjects, and a unique focus. Great stuff.
This was so fascinating, as someone not even into sneaker collection. Two very amazing people.
39:39
Camera man knew what he was doing
Bro is really goated for that
I started reselling in 2013, buying 3-4 pairs. Each jordan would sell minimum $50-100 over retail. I started buying bots. Made $21,000 off a yeezy hit. Started and sold an ATC (Add to cart) company. Eventually the market declined bad after covid. Several reasons but the 3 biggest..
1. Stock X. Before the prices were set by the actual market. Now everyone thinks stock x is the starting point for aby sale. Overall economy is down. No stimulus, no extra money. Lots of small time sellers customers that are willing to break even or only make $10-$20 because they are only investing $200.
2. Over production - Nike started remaking way to many retros, and releasing them at a rapid pace. This meant that if you missed on a hot new Jordan 1, another Jordan 1 would release a month later. Also Nike re-releasing classics.
3. Fakes : before buying and selling fakes was hard. They were hard to acquire (never have). But now you can order, 99% UAs for $60-100. Most people tend to go with the cheapest most convenient option.
Fakes got so good. Aaa level fakes from Vietnam and Aa from Brazil. Each country has its own a level fake now
What’s “UA”?
Under Armour ? @@PBTexasBoy