According to reports by Cowen Research, the sneaker resale market could reach $30 billion by 2030. “Flipping” sneakers buying them at retail prices, or below retail prices in some cases, and reselling them at a higher price has been big business for years. Those willing to put in the time, research, and legwork can see large profits quickly thanks to social media and growing digital marketplaces like StockX and GOAT, which are tailored specifically to the trade.
These schemes naturally attract many young hopefuls. Consider, for instance, 19-year-old entrepreneur Joe Hebert, or “West Coast Joe,” as his sneakerhead buddies almost certainly do not really call him. On Feb. 25, Bloomberg Businessweek published a lush profile on him and his budding sneaker-resale business, West Coast Streetwear. “Anything that’s releasing that I know I can make a guaranteed buck on, I’m gonna go full into,” he told writer Joshua Hunt. “That’s just my style.”
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