The Shrinking Business of Sneakers

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@ModernMBA 4 ай бұрын

Visit NetSuite.com/ModernMBA to sign up for their one-of-a-kind flexible financing offer. COURTSIDE HOLLYWOOD (Leo) instagram.com/909sell/ instagram.com/courtsidehollywood/ 📍 6801 Hollywood Blvd Fl 2, Ste 277 Hollywood, CA 90028 LEGACY BOUTIQUE (Justin) legacy-ny.com instagram.com/legacy.newyorkcity/ 📍1 W 34th St. Frnt 1, New York, NY 10001 ☕ Support Modern MBA on Patreon: patreon.com/modernmba 💬 Join the Modern MBA on Reddit: www.reddit.com/r/modernmba/ 🌎 Follow Modern MBA on Facebook: facebook.com/profile.php?id=61570667949655 🕊 Follow Modern MBA on Twitter: x.com/modern_mba

@A_barrel 4 ай бұрын

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

@TomikaKelly 4 ай бұрын

📣 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?

@TomikaKelly 4 ай бұрын

🤗 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.

@friendly__drone9352 4 ай бұрын

Appreciate the timestamps! Subbed!

@frederickbingley6699 4 ай бұрын

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.

@alpinadreamin2560 4 ай бұрын

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.

@williammiller3277 4 ай бұрын

Those days never left. Love my rack room shoes bogo Brooks and nikes.

@diorocks5858 3 ай бұрын

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.

@veerkar 3 ай бұрын

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.

@LumaTo 3 ай бұрын

Dude. Same. I don't buy sneakers often, but the crazy turns the market has taken has made me just avoid the biggest brands.

@sv9618 3 ай бұрын

Amen brother

@dunnowy123 4 ай бұрын

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.

@wurled4369 4 ай бұрын

Had me in the first half HAHAHA.

@GreenBro11 4 ай бұрын

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.

@erastal 4 ай бұрын

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

@zojirushi1 4 ай бұрын

What are the best markets that he should use his skills in?

@aoe4_kachow 4 ай бұрын

@@zojirushi1handbags

@sly1292 4 ай бұрын

@@aoe4_kachow A HANDBAG?! kzbin.info/www/bejne/pYe0enVjhtqipbc

@DF-wl8nj 4 ай бұрын

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.

@dre32pitt 4 ай бұрын

@@DF-wl8nj exactly.. dont be greedy.. 'Bears make money.. Bulls make money.. Pigs get slaughtered'

@SlowMoebius 4 ай бұрын

No one is out here doing these industry specific exposes like Modern MBA. The level of depth in these videos is incredible. True journalism.

@Hipsterjes 4 ай бұрын

Calling the financial reporters amateurs right off the rip ‼️ going to be a fire video

@mastradamus1 4 ай бұрын

Love this

@JoshuaC923 4 ай бұрын

Oh yeah😂😂😂😂🔥🔥🔥

@AdamSerge 4 ай бұрын

YEAH He did that 😀😀😀😀

@triton62674 4 ай бұрын

Fr he's done his homework

@chancellorasher9417 4 ай бұрын

Because those reporters look only at the number and charts, they don’t go out the field and do actual hand on research

@TheLegendaryFenix 4 ай бұрын

The sneaker head scene is like watching a bunch of middle school boys in Tapout gear learning to negotiate for the first time

@spencerl-yf6bg 4 ай бұрын

It's crazy that so many unemployed people in an uncertain economy thought it was a good idea to spend $400 on sneakers.

@michaelblasius7705 4 ай бұрын

Pretty much explains how UBI will not solve our problems.

@bergbryce 4 ай бұрын

Dude, it's a collab.

@sIosha 4 ай бұрын

@@michaelblasius7705 UBI is not the same as a temporary stimulus.

@Jeez001 4 ай бұрын

Lot of People buying sneakers are 100k+ earners 😂 as they didn’t know what to spend on during lockdown

@fr3847 4 ай бұрын

@@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

@cashmerefire7335 3 ай бұрын

His demeanor while negotiating is lethal

@TS6815 4 ай бұрын

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

@alquinn8576 4 ай бұрын

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

@nagasako7 4 ай бұрын

I feel like his talent is being wasted on shoes. He's way too smart. He should get into real estate / watches / stocks etc

@scarecroweest 4 ай бұрын

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.

@camelotenglishtuition6394 4 ай бұрын

@@nagasako7 all of which are down, I mean you can make money on commodities ..but yeah, stocks are very tough to profit these days

@iliketurtles4463 4 ай бұрын

Exactly they say his love of sneakers was his advantage or start, but it was actually his love of money and business knowledge/acumen.

@Desmo25 3 ай бұрын

Charging $900 for a pair of $110 shoes is why I hate resellers.

@crasyman101 3 ай бұрын

The price is only 110 because Nike said so. They made the shoe for 30$ max

@Desmo25 3 ай бұрын

@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.

@tomlewis5542 2 ай бұрын

Suckas follow

@Panda_J1 2 ай бұрын

Blame the people buying them not the sellers. Some people really love sneakers so is their fault if they get scammed.

@joelashadali 2 ай бұрын

Its like every other collectible.

@peterpham240 4 ай бұрын

This is better than Netflix produced videos. Bravo man. Amazing work

@rockstar2012r 4 ай бұрын

Ikr! This is excellent stuff

@LegionaryAssassin2277 4 ай бұрын

nahh fr Netflix just has a higher budget but most of their documentaries are over edited low iq slop

@DistrustHumanz 4 ай бұрын

This only means other YT content creators will steal it.

@incurableromantic4006 4 ай бұрын

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.

@averageamericangirl6819 3 ай бұрын

Babylon still deal like this. Nothing has changed. I love shopping the markets when I go.

@Marbeary 4 ай бұрын

Leo is 21 but haggles like my asian mom on the market. Great skill and will grow up very promising.

@jamesnguyen7069 4 ай бұрын

until everything becomes digital... which is what is happening.

@waifuman6000 4 ай бұрын

Best haggler of today vs Best haggler of history

@DavidDiaz-zp4hu 4 ай бұрын

GessHow Muchai Peydfur Deese!

@nikilragav 4 ай бұрын

I love the coin flips lol

@judeffr 4 ай бұрын

He haggling on Instagram too right?

@flprtc 4 ай бұрын

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

@davianoinglesias5030 4 ай бұрын

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

@rendarecorrentecomopcoes2336 4 ай бұрын

That dude should be hired by any company needing a good negotiator, he's a rock.

@jamesnguyen7069 4 ай бұрын

NFTS...

@Dogo.R 4 ай бұрын

"it's an appreciating asset bro" Why? "it just is bro"

@odiamafia 4 ай бұрын

@@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*

@Gojimaru 4 ай бұрын

@@odiamafia It's actually useful because of its properties and not just because it is bruv.

@akhilramesh2731 4 ай бұрын

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!

@redlinkgamer 4 ай бұрын

I love how much this video actually cared about understanding the market, and not just an assumption. Great vid btw

@bossyspaghetti 4 ай бұрын

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.

@J5L5M6 3 ай бұрын

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.

@AzxertyBqwedgt Ай бұрын

@@J5L5M6hi, what would be some durable shoes you'd say? I'm an young adult and do lots of travelling and walking. Any recommendations is much appreciated

@TheWolfXCIX 4 ай бұрын

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.

@werdna_sir 7 күн бұрын

Resellers ruin all hobbies. It eventually gets built into the economics of the core vendor and isn't sustainable for either the company or the consumer. 95% of "sneakerheads" are Hypebeast trash.

@jancovanderwesthuizen8070 4 ай бұрын

This entire sneaker culture seems mildly insufferable The fact sales started declining when people stopped getting stimulus checks tells you pretty much everything

@diminto6881 4 ай бұрын

Lmaooooo

@MG-ge5ii 4 ай бұрын

@@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.

@darrtrubb 4 ай бұрын

Bingo!

@simonschneider5913 3 ай бұрын

its all correlated perfectly with money creation, or interest rates.

@MG-ge5ii 3 ай бұрын

@@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

@Kyle-gn2ub 4 ай бұрын

Really cool that you got so much detail on the biz from Leo! Nice work man

@alexanderleshchenko2004 4 ай бұрын

Damn the oracle integration is the ultimate flex for a business KZbinr.

@looppp 4 ай бұрын

that's what i was thinking lmao

@RizZRizZ- 4 ай бұрын

Wdym?

@Ahfuric 3 ай бұрын

@@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.

@washedtoohot 16 күн бұрын

@@RizZRizZ-if u actually need/utilize what Oracle does then you are doing business right

@davidpachecogarcia 4 ай бұрын

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.

@mrdeebo313 4 ай бұрын

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.

@一片叶的故事 4 ай бұрын

@@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

@jorgesalazar818 4 ай бұрын

@@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?

@kk-xj5oz 4 ай бұрын

The supply of sneakers are unlimited. People believe that shoes are a valuable asset is ridiculous.

@nile7999 3 ай бұрын

it's not unlimited, companies control supply and obviously they'll limit it to make their shoes more valuable

@sparks6177 3 ай бұрын

@@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.

@adghat7819 2 ай бұрын

Still, if kept for years in inventory fake market will boom. It is not a mutiuse commodity.

@lunam7249 Ай бұрын

🏀

@bananawitchcraft 29 күн бұрын

Well it's not just about the amount of sneakers in general. Value is based on the supply of specific types of sneakers.

@G3rmanhenry 4 ай бұрын

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.

@bryandonsone4835 4 ай бұрын

simple analogy: hype died down

@adamfaliq8464 4 ай бұрын

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.

@TomikaKelly 4 ай бұрын

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.

@kingart23 4 ай бұрын

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.

@adamfaliq8464 4 ай бұрын

@@kingart23 Thanks my dude, you should make this as a video instead 😆

@mrphan09 4 ай бұрын

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.

@rizoph4371 4 ай бұрын

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.

@thallonhenry4210 4 ай бұрын

Leo is TWINTY ONE?!? Wow! He is wise beyond his years 😮 Much success to him! ❤

@m.o.n.d.e.g.r.e.e.n 4 ай бұрын

yeh that was a wild moment in the video!!

@mind-of-neo 4 ай бұрын

Never been so embarrassed as a 23 year old 😭 so many people younger than me out there just killing it

@stanvanillo9831 4 ай бұрын

@@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.

@mastersingleton 4 ай бұрын

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.

@Malice_doll 3 ай бұрын

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

@i-xanity-i5136 3 ай бұрын

@@Malice_dollnah people moved to anything that they can resell or a job

@BladeRabbit 4 ай бұрын

I really love these documentary style personal videos. Feels like I'm watching Vice but actually good

@brennanpostich2351 4 ай бұрын

I love these videos providing insight into how businesses (local or otherwise) operate. Please keep making them!!!

@jcolt84 3 ай бұрын

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!

@jordanpeterson9591 2 ай бұрын

Joe fresh goods is the guys for that

@defauIt2 7 күн бұрын

dad sneakers is amazing new designs?

@BlckJack123 4 ай бұрын

I love it how these business "experts" (?) always immediately know why something happened (likes the sales of sneakers dropping) without doing any research.

@pistolen87 4 ай бұрын

Fashion is to a large degree about perception and intuition, hard to break down only to a spread sheet.

@willpeterson3943 4 ай бұрын

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

@darklord9581 4 ай бұрын

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

@JohnHenkamGangte 4 ай бұрын

What do you mean @@willpeterson3943

@jacobp8294 4 ай бұрын

@@willpeterson3943 uh huh, because rich kids don't buy sneakers either

@venusbby 4 ай бұрын

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

@michaelhohl1167 4 ай бұрын

Babe, wake up, new Modern MBA video dropped

@pach1100 4 ай бұрын

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.

@KojiCT 4 ай бұрын

Same with pet market

@glitchgod3868 3 ай бұрын

Stimulus checks

@12012channel 3 ай бұрын

Yeah, but they could post Instagram photos and tik tok videos.

@josephherlihy9149 14 күн бұрын

@@glitchgod3868 genuine question how much stimulus do you think folks were getting ?

@glitchgod3868 14 күн бұрын

@@josephherlihy9149 1200+. Some were getting more depending on circumstances.

@kylemalachowski 4 ай бұрын

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.

@jamesnguyen7069 4 ай бұрын

EVERYY1 CHANGED... no longer does a physical product need.... hence the rise of digital goods.

@wazindo 4 ай бұрын

@@jamesnguyen7069digital sneakers?

@nikilragav 4 ай бұрын

What are you wearing instead?

@kylemalachowski 4 ай бұрын

@@nikilragav Usually boots and derby’s. Cowboy boots, work boots, doc marten type stuff. Vintage Americana inspired stuff mostly

@FatherOmega 4 ай бұрын

Interesting.

@ten1371 4 ай бұрын

Most underrated channel on KZbin It's so impressive that he can research and interview many different industries.

@overlooting2195 4 ай бұрын

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!

@CactusBravo42 4 ай бұрын

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.

@joshuatealeaves 4 ай бұрын

Your videos are so fun to eat to

@Ian00003 4 ай бұрын

I like to listen to his videos on my way to work too

@aoe4_kachow 4 ай бұрын

I just ate pizza

@RoseanneSeason7 4 ай бұрын

@@aoe4_kachowyum

@mamotalemankoe3775 4 ай бұрын

Absolutely. I only watch his stuff if I have a good meal to go with it.

@aspenin 4 ай бұрын

real

@kinggeorge90 4 ай бұрын

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.

@aiwash2766 4 ай бұрын

Mans went straight for the jugular in those opening minutes 😂😂

@ForTheOtherThing 3 ай бұрын

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!

@ryans7097 4 ай бұрын

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.

@stephanieherman2861 2 ай бұрын

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

@MrGST360 4 ай бұрын

Imagine being a sophomore in high school and having friends that loaned you $300 . Wow

@stevensantoyo926 3 ай бұрын

I was thinking the same thing lol

@jemarrebrown836 4 ай бұрын

Went to Sneaker Con in Philly in 2023 and it was wildly disappointing and the asking price for shoes that looked fossilized was insane

@Patangy 3 ай бұрын

The coin flip thing was fascinating, I've never heard of that as a price negotiating tactic!

@verynick 27 күн бұрын

Same. It just tells you how market is for shoes game

@andychua2766 4 ай бұрын

I never not once have understood why these shoes were so valued.

@daniellez.2462 4 ай бұрын

Mad respect for Leo’s hustle. He’ll be just fine no matter what happens in the market.

@gfisch72 4 ай бұрын

22:52 UNREAL this guy is 21.

@smoketaylor2885 4 ай бұрын

I read this as they were saying it!

@user-eg3zs6oi7c 2 ай бұрын

why? young brains are better than old, I actually expect that

@bascal133 4 ай бұрын

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

@Cab895 4 ай бұрын

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 !!

@12012channel 3 ай бұрын

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.

@patradingjournal 4 ай бұрын

21 and already a legend in the game? Respect to the first guy, damn he inspirational.

@geebert23 4 ай бұрын

he is smart.

@nick_pappagiorgio 4 ай бұрын

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.

@ErrorMoose 4 ай бұрын

Low key hilarious

@Beaula2 4 ай бұрын

We shouldn’t have to live with N behavior like this..

@droidgracie4121 4 ай бұрын

Democrat-run city I suppose?

@hahahajackmyswag 4 ай бұрын

Typical black behavior. And what did you do to ensure this doesn't happen again?

@russiasvechenaya58 3 ай бұрын

Democrat city?

@imanuelbaca2468 4 ай бұрын

Calls all the other people reporting on this armatures. Provides video evidence. God tier video.

@chickengoneturkey2 4 ай бұрын

Great job capturing the nuances of sneaker reselling and allowing experts to tell their stories and experiences. Loved this

@angelenriquechavezponce1629 3 ай бұрын

Man this videos just keep getting better, kudos to the Modern MBA Team 👏

4 ай бұрын

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.

@jefffisher598 3 ай бұрын

People said the same thing 9 years ago

@reappermen 3 ай бұрын

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

@pastense 4 ай бұрын

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.

@cactusjack2264 3 ай бұрын

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🤦‍♂️

@yourcalicocat 4 ай бұрын

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

@xmochix604 4 ай бұрын

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.

@V3racious3 4 ай бұрын

Your whole sector is a weed.

@joelevy3042 4 ай бұрын

Perfect comment.

@jihyunpark1517 4 ай бұрын

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.

@nathans89 4 ай бұрын

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.

@cactusjack2264 3 ай бұрын

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.

@RudyG01 4 ай бұрын

Havent watched the whole video yet but from there intro, there are quite a few parallels between the sneaker and luxury watch market

@Hhe448 4 ай бұрын

Except shoes are worthless. Watches aren’t.

@CTimmerman 4 ай бұрын

@@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.

@Hanstra 4 ай бұрын

@@Hhe448 If people pay for them, they have worth.

@jaked9538 4 ай бұрын

@@Hhe448both are supply and demand

@jhalilxvii 3 ай бұрын

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.

@MyWeaponizedThought 4 ай бұрын

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.

@VaughnJogVlog 4 ай бұрын

When Modern MBA beat 60 Minutes at their own game.

@foobarFR 4 ай бұрын

That Leo guy has the immemorial skills of merchants.

@ijchua 4 ай бұрын

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.

@fgonzalez78959 4 ай бұрын

A sucker is born everyday

@RemoWilliams1227 4 ай бұрын

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.

@jacksmith5064 4 ай бұрын

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.

@harrietdrums 4 ай бұрын

@@jacksmith5064 that's how any clothes you wear work. Didn't you ever see Devil Wears Prada lol

@CleverSmart123 4 ай бұрын

Amazing documentary, really liked both perspectives and how they weren’t sugarcoating the current market

@xuedalong 4 ай бұрын

Literally mental that 2 pairs of shoes can be valued the same as a smart phone.

@waltzforvenus_9164 3 ай бұрын

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 .

@Theoryofcatsndogs 4 ай бұрын

Maybe I am a bit too old. But paying few hundred bucks for a pair of used shoe seems crazy to me.

@mcblahflooper94 4 ай бұрын

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.

@Keys-jh6js 4 ай бұрын

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

@VK-el3of 4 ай бұрын

Not crazy but stupid.

@dadadadada17 4 ай бұрын

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.

@2WheelsGood.01 3 ай бұрын

@@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.

@SilverScarletSpider 5 күн бұрын

leo is artificially making his voice deeper 😂

@DoneDealAC 4 ай бұрын

I work in an office. I only wear white shoes that cost less than $50. 😂

@doubleclick21 4 ай бұрын

Stan Smiths? 🤣 (Hopefully the actual leather ones, when on sale.)

@Allen-L-Canada 4 ай бұрын

I buy $29.99 shoes at Costco :)

@Allen-L-Canada 4 ай бұрын

@@DoneDealAC I also wear my 2 sons’ out-of-favour leftover shoes 👟

@nocapproductions5471 4 ай бұрын

I wear a $50 pair as well but i used to be a sucker who wore $200+ pairs.

@matthiassventoest6800 4 ай бұрын

this is so well done. I am old sneaker enthusiast .., but I sold all my stuff well before the bubble burst.

@LevMyskin 3 ай бұрын

I was just looking for 40 minutes of non-stop vocal fry, so glad I found this video

@some______guy 4 ай бұрын

I can't stand the concept of sneakers as a business. But this video was so wonderfully made and it just showcased people that would be a success in any business. The fact that it's on a downturn makes the story more interesting

@jamestaylorjr2521 3 ай бұрын

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.

@ryanm4319 3 ай бұрын

Guys like Leo know how to play the game. He built years of knowledge and dedicated himself to his trade with unscrupulous accuracy, and scaled smart unlike many others that blew out their budget and got stuck on inventory. Guys like him clean up not once but twice, from the consumer side during the stimulus surge with huge demand, and then again on the commercial side during the drop when the supply surges. The nature of business is business.

@ValentinSal 4 ай бұрын

The sports card market/ hobby is where it’s at.

@Lalit-yw2tb 4 ай бұрын

Man. This channel is so underrated and a gold mine of knowledge.

@mattk1631 4 ай бұрын

The amount of time wasted and deals lost over $10 is the worst part of sneakers.

@bubbasanches4591 4 ай бұрын

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.

@CFKaligula 4 ай бұрын

@@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 4 ай бұрын

You can say that about every product we use outside of new tech

@alquinn8576 4 ай бұрын

@@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

@LegionaryAssassin2277 4 ай бұрын

I mean it adds up. You can’t survive in the resell business without being a bit cut throat

@rogersockwell 3 ай бұрын

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!

@MatterMadeMoot 3 ай бұрын

Really fascinating. Respect Leo's hustle.

@david191cm 4 ай бұрын

Buying something then selling it at a markup because you bought all of them. What a business

@user-hm5zb1qn6g 4 ай бұрын

so, like Ticketb3ztrd.

@cactusjack2264 3 ай бұрын

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

@user-hm5zb1qn6g 3 ай бұрын

The TicketMaster Formula

@cactusjack2264 3 ай бұрын

@@user-hm5zb1qn6g the thing is, there’s other places to get tickets not just Ticket Master. Sneakers are usually more limited