This Dude Grosses Over USD $3 Million Per Year By Reselling Used Sneakers

Derek Lew started reselling sneakers in 2008 as a way to make some quick cash, and has since seen his business Sole Supremacy grow into a huge enterprise – shifting over $3 million in used and deadstock sneakers per year. Highsnobiety caught up with Derek to discuss his roots, the state of the sneaker game in 2015 and the impact social media has had on his business, amongst other things.

Reselling sneakers is big business these days. With more limited releases than ever, everyone from rappers to high-fashion designers pledging allegiance to athletic footwear, and the internet and social media driving sneaker hype to stratospheric new heights, the demand for limited edition kicks has never been greater. If you need any more proof, just last year the sneaker resell market was valued at a whopping $1 billion.

I started about seven years ago. I lost my job that I was doing really well in, and to find a new source of income I started selling my personal sneaker collection. I realized I was getting more money than I originally paid for my shoes – so I figured that there was probably a ton of other people out there just like me who needed to sell their shoes for various reasons – to pay their bills, mortgage, car payments or whatever – and I could offer people money to buy their shoes for quick cash and then resell them myself.

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Source: Highsnobiety