What Is Ann Hebert's Net Worth? Her Son's Nike Shoe Reselling Explained
Although Joe claims that a lot of the profit he generates comes from general release shoes, which are massively discounted at one outlet that he is able to resell to another for a higher profit, the apex of his business comes from securing volume on highly coveted releases that often have low stock numbers to drive hype behind the product.
For example, Joe was able to secure dozens of pairs of the recently-released collaborative Off White and Nike Air Jordan Retro 5 sneaker, which sold out instantly and now command a resell price on markets such as StockX of around $1,000 a pair.
The catch?
He got his hands on every pair he owns for their retail price, $225. Thanks to clever computer programming, a full team, and some insight at Nike HQ, the clever salesman used the online marketplace to quadruple his initial investment.
Of course, while this is all well and good for the young entrepreneur, it is a clear deviation from Nike's official stance on reselling sneakers, which is that they do not condone the practice of it whatsoever.