The Young Edge: In Pune, sneakerheads bond over Michael Jordans of the world

Yeezys, Panda Dunks, Lost and Found, AJ1, New Balances, Air Jordans, and Black Phantom might sound like stage names of pop stars but in the world of ‘sneakerheads’, these are some of the most valuable possessions, with their prices often going up to Rs 20,000 or Rs 40,000 and sometimes even up to lakhs of rupees.

Among the well-to-do youth of Pune, the power of pop culture is such that a thriving ecosystem of reselling sneakers much above their maximum retail price exists. The trend of reselling sneakers has been a global phenomenon and Pune has not been left untouched, as an entire store dedicated to reselling sneakers opened last month on Dhole Patil Road. These youths have their own Discord channels and WhatsApp groups and host regular get-togethers over this shared interest.

Store dedicated to reselling sneakers opened last month on Dhole Patil Road. (Express Photo)

“If you see everyone from US politicians like Kamala Harris and Barack Obama to Bollywood celebrities like Amitabh Bachchan wearing it, you know there is something to it,” said Nishant Tulshan, a sneaker enthusiast.

“Most of the youth that go after this care about the hype because it makes one trendy and relevant,” added Tulshan

Ronit Kimble, a 24-year-old Pune-based YouTuber said, “I was hesitant to invest Rs 7,000 on my first pair of sneakers but I took my chance. The backstory to this pair is what makes it worth Rs 30,000 today. In Italy in 1985, the legendary basketball player Michael Jordan, during a game, dunked so hard that the backboard shattered and the game ended. That is why the pair is called the Air Jordan 1 Shattered Backboard. It is very close to my heart as it is an iconic moment of Jordan.”

The origin of sneakers can be traced back to the NBA star Jordan himself. What started as tributes to players, a mark of their struggles or victories during a game, has now become a fad that extends to pop stars, music artists and film celebrities.

Kaashi Totad, a 20-year-old sneakerhead, took up sneaker reselling as a side hustle for extra money. He earned profits as high as Rs 45,000-55,000 per year.

He said, “I was involved in this business for two years and made profits of up to 60 to 70 per cent on a single pair. I picked my pair based on my understanding of the sneaker market. This involves discussing trends with fellow sneaker enthusiasts, analysing Instagram algorithms for market insights, and building strong connections and trust with buyers.”

On Dhole Patil Road, inside the Shoes Classique store, a full-length mirror on the stairs leads to the underground sneaker world. On the wall are displayed sneakers worth Rs 10,000 to Rs 1 lakh – from Air Jordan One Spiderman Verse to the ‘Lost and Found’ pairs, from the Phantom series to Sb Dunk. Unlike regular shoe stores with minimal seating space, this is flanked by sofas and a special kiosk serving Chakora coffee.

Hatim and Hamza at their store, ‘Hide and Sneak’ striking a pose popular among sneakerheads. (Express Photo)

They get their stock in three ways: Purchasing stock directly, sourcing involves buying a product upon a buyer’s request and then reselling it, and consignment, where the store sells a pair on a customer’s behalf in exchange for a commission. Within one month of their launch, they have generated a 15 per cent profit.

“This is not just a space for one to come and buy shoes. It is a passion project where sneakerheads can meet, gather and discuss everything to do with sneakers,” said Hamza Shetranjiwala, Hatim’s business partner.

Hatim Choonawala, the 24-year-old who co-owns this store, started out in the world of sneakers rather accidentally. “I bought my first pair of Air Jordan 4 bright, needing to be made aware of its value. Luckily, I got that at the retail price of Rs 16,000. I took it because it was aesthetically pleasing, and I liked its vibe and design,” he said.

“Later on, I got to know about the resale market for sneakers from my friend; after this, when I learnt about the reselling market in India and when I tried my hands at reselling, I was lucky to get this pair called SB Dunk (Sandy Bodecker) on eBay at Rs 12,000 and sold them instantly same day for Rs 25,000 and that is how my reselling journey started.”

However, the reselling market is dynamic, and things can go either way, depending on the trends and availability, because the value goes up if the sneakers remain exclusive. For instance, the Panda Dunks generated considerable hype initially. However, the company fulfilled the supply and the sneakers lost their market value.

“The value of Panda Dunks went from Rs 20,000 to Rs 11,000 because of the saturation in the market,” Hatim said.