Over the past several years, the sneaker resell culture has gained popularity and dominated countries all over the world, and it appears that the Philippines is next
Aside from safety and comfort, sneakers can also say something about us and our personality. The sneaker industry and its popularity became stronger over time, which eventually led to developing other subcultures like reselling. Whether it’s a fad or not, this proves that even when a pair of sneakers is almost three times more expensive than its original price, people still enjoy buying them.
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Sneakers as a form of investment
This might come as a surprise to some, but for sneakerheads, copping a rare and special pair of sneakers is comparable to making a stock market investment or purchasing a valuable work of art. They may immediately sell them or hold onto them and wait for a later time for its value to skyrocket. A wise sneaker investor knows that a pair that currently costs PHP 10,000 might be worth 10 times as much in a few years. But of course, they put an added layer of effort in scrutinizing which footwear items are worthwhile investments.
The Philippines’ sneaker reselling scene
Since Titan opened its first store in the Philippines, it has been increasingly commonplace to observe long lines of people waiting for the latest sneaker releases. Today, there are a broader variety of local and foreign online reseller businesses that are accessible to a new generation of Filipino sneakerheads. In addition to that, there are other sneaker resellers who take it to the next level by flying overseas just to bring the latest releases here in the Philippines. These in-demand models frequently carry a markup of 200% to 300%, or more.
Criticisms against this culture
Critics argue that this subculture excludes those most passionate about street fashion, which is ironic because streetwear has always been about deviating from mainstream norms. Others say that because of reselling, purchasing your dream sneakers today is almost close to impossible because it puts sneaker brands and shops on a very restricted front and caters more to the privileged sector.
The future of the sneaker industry in the country
There has been an increased demand for sneakers in the Philippines in recent years. It is safe to say that we can anticipate more creative colorways and crossover collaborations, as long as the leading shoe brands continue to see a Filipino sneaker community that shows appreciation for their launches, whether it’s a resale or not. Shoes are not the key element in the future of the sneakers industry, but it is actually the people. As long as there is an eager community willing to pay, this game will never go out of style.
Photos from SHOE GAME MANILA and TITAN (via Instagram)
