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Sneakers The New Birkin Sneakers, which were originally introduced for practical and functional use have turned into a multi-million dollar industry. The sneaker industry was valued at 79 Billion USD in 2020 and is expected to grow to 120 Billion by 2026.

By Kavya Pillai

Opinions expressed by Entrepreneur contributors are their own.

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Taylor Smith

The world of luxury fashion is a unique cluster of aesthetics that people often have a love-hate relationship with. While crushed toes and pain-stricken feet aren't anyone's dream the desire to slip into Versace's iconic candy-pink Platforms does not fade away easily. In recent years this same place of couture that once called Birkenstock sandals "funny looking" witnessed the boxy and orthopaedic shoe brand collaborate with great fashion houses such as Dior, Rick Owens and Manolo Blahnik. Similarly, Sneakers, which were originally introduced for practical and functional use have turned into a multi-million dollar industry. The sneaker industry was valued at 79 Billion USD in 2020 and is expected to grow to 120 Billion by 2026.

The pandemic accelerated the reign of comfort over anything and this infiltrated the world of fashion. Athleisure was in demand at every fashion store and brands didn't waste any time on jumping into the game with Adidas collaborating with Prada in 2019 to now revealing collections with Gucci and Balenciaga in 2022. Even the work of late designer Virgil Abloh's 2017 Nike collaboration introduced the infamous 10 sneaked models called 'The Ten' which still remains in the spotlight. The designer had then described his work to Nike News as, "What we're talking about here is larger than sneakers, it's larger than design culture. It's nothing short of state-of-the-art design."

We asked a few sneakerheads what they loved so much about these luxury kicks. To which Jay Punjabi, electronic music producer, and COO Cali Recording Studios said, "For me, my sneakers are a part of my personality. They just enhance anything I wear and make that look a whole lot better. My personal favourites are the Air Jordan 1's Maison Chateau Rouge and Yeezy 450's." But it is not just owning a pair of sneakers that encapsulates what makes these shoes the next Birkin Bag (which is a symbol of luxury and exclusivity created by the brand Hermes). Mohit Mukhi, Creative Director and Founder Gltch shared it was not just about owning iconic sneakers for him but the story behind procuring each pair. "My personal favourite that I own is Air Jordan 1 High Zoom "Fearless" sneakers," he said. About how he got his hands on them he added, "I'd gone to Sole DXB at the time and Nike had a huge activation there, where they'd let limited people (30 at one time) come in for an hour and shop exclusive stuff that would be up for grabs only for that specific time (1 hour in this case) and I was able to cop the Fearless pair along with a couple of others at retail. It's still one of my favourite pairs of sneakers that I own and would never want to resell."

A country like India loves putting their best foot forward in the world of tech, fashion, cinema and more. It just so happens that, that foot is dressed in premium sneakers which up until recently were procured through travels overseas. Anchit Kapil, CEO and co-founder of Crepdog Crew a one-stop shop for the most-wanted sneakers recently launched a sneaker-experiencing store in Mumbai. About opening in the city of glitz and glam, he said, "Mumbai is the fashion capital of the country, and we wanted to give the city the kind of experiential space it hasn't seen before. We envisioned CDC Experience as a place for the sneaker and streetwear community to come together. It's not a store, it's an experience." The Mumbai outpost delivers a retail-unique 'coffee & kicks' experience. "From Asia's largest sneaker wall to the best streetwear designs in the country and a coffee bar by Dope Coffee Roasters. There is something for everyone at CDC Experience whether you love sneakers, or streetwear or just love the vibe of the community," added Anchit.

In our interaction with Anchit, we learned that not only are the sneakers at CDC wrapped in plastic but have a QR code placed under each shoe so that customers can scan to learn details about the price and sizes available without bringing any damage to the piece. A fun feature Anchit shared was that the same portal that does not have the hassle to ask anyone to download or install and has the option of listing all the shoes available in the buyer's size that they select. The plastic-wrapped kicks were surprising but Anchit was quick to revert, "We forget that these sneakers are not just footwear but a commodity." Coming to what makes the CDC store an experience Anchit shared, "We founders had our own primary businesses and wanted premium kicks for ourselves. This led us to understand what is not offered in this country and we then introduced a space for luxury sneakers and streetwear that is curated to perfection for the community."

Kavya Pillai

Former Correspondent

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