People’s Bank of China has said that speculative buying of limited edition trainers had become a problem and warned speculators against using more than a dozen online platforms. The growing popularity of sneaker trading has seen Sneaker Con launch its first event in Shanghai and US-based marketplace GOAT launch a China-specific app. — SCMP
In April, David Zuo’s students told him about the latest money making craze sweeping across China: reselling limited edition athletic shoes. Since then the 34-year-old Zhejiang sports teacher has made about 100,000 yuan (RM59,104) trading rare trainers online such as Nike Air Jordan’s and Adidas Yeezy’s.
The growth of digital platforms, fuelled by a nation with growing disposable income and a deep love for basketball, has created a buying frenzy in a secondary market of trading shoes much like stocks.
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