Sneaker stocks and luxury resale stores boost footwear market

The sneaker business is booming, with the global market predicted to reach $120 billion by 2026, having been valued at $80 billion in 2020. 

Gone are the days of wearing sneakers until they fall apart, in the last decade there has been a notable shift in how sneakers are worn and perceived. The shoes have become coveted fashion objects, no longer seen as too informal for a work setting. Now they are a symbol of wealth, and a major contributor to footwear’s pole position as the biggest-selling category in the online luxury market.

In this episode of The Exchange, Euronews investigates the everchanging world of sneakers and the latest trends in the market. 

According to footwear retailers, it is young people who determine the direction of 'sneaker culture', creating an ever-evolving market that needs to grow with the customer. 

Susie Kuhn, the Europe, Middle East and Africa President of Foot Locker, told Euronews that big retailers are tracking changing tastes and trends to ensure that young people stay engaged.

The resale market, where collectors or “sneakerheads” put their limited-edition shoes on sale, is a key pillar of the sneaker industry, representing around $6 billion globally.

This has given rise to a new niche in the market; premium sneaker consignment stores, which sell collectable sneakers on behalf of their owners for commission.

A post shared by Presentedby (@presentedby)

One such business is Presentedby, who claims it “represents a refined regeneration of sneaker and streetwear culture” in a world where “Streetwear is a new luxury”.

Presentedby has stores in London, Paris, Dubai, Doha and Riyadh, each designed to look more like a temple to sneakers than a normal shoe shop.

At the Doha store, a pair of sneakers could