High-end brands such as Balenciaga, Gucci and Prada are increasingly putting more and more luxurious sneakers out in the market, putting them in direct competition with sportswear giants like Adidas or Nike. Previously, a most-wanted luxury item used to be a designer handbag, but recent statistics show that the millenials much prefer to own a nice expensive pair of shoes nowadays. Global sales of sneakers – or trainers – rose 10 percent to €3.5 billion last year, outperforming a 7 percent rise in handbags, according to consultancy Bain & Co.
With the current athleisure trend, the amount that money people tend to invest on sportswear is getting bigger and bigger, hence the prices of some sneakers are incredibly high. Limited editions can sell for well over $10,000, including the Chanel X Pharrell Hu Race Trail or Nike’s Air Jordan 3 Retro DJ Khaled Grateful.