What the hell is going on in the sneaker industry?
What the hell is going on in the sneaker industry?
2 min read

Table of Contents

What the hell is going on in the sneaker industry?

Alex L
1 year ago

What the hell is going on now with the sneaker industry?

Towards the end of the year in 2022, infamous Zadeh Kicks filed for bankruptcy as the company failed to pay out it's loyal customers on pre sale sneakers. 

But the list started to grow aggressively as three more well known names in the industry have made headlines for malpractices. 

Just this past week, reseller known as Schmidty Kicks LLC filed for bankruptcy. The company owes customers and banks well over $18 million.

schmidty-kicks-creditors.webp


Another well known resell sneaker store in California, Cookies and Kicks, abruptly closed their stores as numerous consigners are owed in the realm of six figures.
 
277752006_828753238072247_708580975225765793_n.jpg

A renowned Facebook group called BannedLA has also struggled to payout their cosigners in the group. 

image

Image credit @resellmemes on Instagram

 

And this is just the tip of the iceberg because more cases are soon to arise. As the sneaker market took a deep dive due to the recession in 2022, these cases are clear evidence that businesses are struggling now to keep up with rent, overhead, and payments for individuals who have consigned with them. 

Keep a close tab with @swiftsole on the latest updates of sneaker news and also upcoming releases. 

Related News

Air Jordan 4 SE Paris Olympics FQ7928-001 Coming July 27th
3 min read

Air Jordan 4 SE Paris Olympics FQ7928-001 Coming July 27th

15 hours ago
Supreme Air Max 1 Coming in Four Colorways in Spring 2025
2 min read

Supreme Air Max 1 Coming in Four Colorways in Spring 2025

3 days ago
2024 USA Nike SB Dunk Low & Converse CON Drops July 18th
3 min read

2024 USA Nike SB Dunk Low & Converse CON Drops July 18th

3 days ago