Fans of Donald Trump couldn’t get enough of the former US president’s range of trainers (or “sneakers” as they call them across the pond) at Sneaker Con in February. Literally. The $399 Never Surrender High-Tops have sold out and they are now appearing on eBay for six figures, according to GQ magazine. One fan, a luxury watch dealer, paid $9,000 after Trump showed up at the event brandishing a pair of the gaudy gold trainers. Not everyone was impressed, as The New York Times noted. Derek Guy, who writes on men’s wear, wrote on social media: “Having a presidential candidate release a sneaker is so embarrassing. Imagine Emmanuel Macron doing a limited drop and Rishi Sunak holding pop-up events”.
It turns out, we don’t have to. Our prime minister felt compelled to offer “a fulsome apology to the Samba community” on LBC Radio earlier this month. The maligned community in question are fans of a model of shoe – the Adidas Samba – among them celebrities Rihanna, Kate Moss and Kendall Jenner.
“In my defence, I would say I have been wearing Adidas trainers and Sambas and others in fact for many, many years,” Sunak said. But the damage is done. It could ring “the death knell” of the Samba, Elizabeth Semmelhack, a “footwear historian”, told The Times.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Most desirable trainer brands
Fortunately for non-prime-ministerial collectors, all is not lost. Adidas only came in third in a list of the most desirable brands of last year, compiled by StockX, an online marketplace for trainers. Nike and Jordan (which is owned by Nike) came out ahead in terms of the number of trades. Asics, in particular, enjoyed “hockey-stick growth in 2023”, with sales on the platform growing 239% from a year earlier. The Japanese brand rose from tenth position to fifth. Oakley, a brand better associated with sunglasses, is also “having a sneaker moment”, according to StockX. Trades on its platform increased by 157% year on year.
Sotheby’s has been selling trainers for sky-high prices since 2019, when a pair of vintage 1972 Nike “Moon Shoes” fetched a then-record $437,000, says Calum Marsh for GQ. Since then, prices have only risen. In February, Sotheby’s sold a set of six Air Jordans, worn by basketball star Michael Jordan in the 1990s, for $8m. But you don’t have to have the spending power of Jordan to start collecting. Sotheby’s is selling, as part of its “Buy Now” online offering, trainers ranging in price from £88 to a little over £150,000 for the Louis Vuitton x Nike Air Force 1s – in case Sunak is interested.
This article was first published in MoneyWeek's magazine. Enjoy exclusive early access to news, opinion and analysis from our team of financial experts with a MoneyWeek subscription.
-
Number of high-earning women jumps 12% – how to convert income into pensionsMore women than ever are paying the highest rate of tax as record numbers succeed in high paying professional roles. But their pension saving still needs to catch up
-
Yoshiaki Murakami: Japan’s original corporate raiderThe originator of Japanese activism, Yoshiaki Murakami, was disgraced by an insider-trading scandal in 2006. Now, he's back, shaking things up
-
Yoshiaki Murakami: Japan’s original corporate raider
The originator of Japanese activism, Yoshiaki Murakami, was disgraced by an insider-trading scandal in 2006. Now, he's back, shaking things up
-
Cash in on the vast growth potential of the companies electrifying the worldOpinion Martin Todd, portfolio manager, head of sustainable equities, Federated Hermes, highlights three electrification companies where he'd put his money
-
Galliford Try has firm foundations for strong growthBuilder Galliford Try has a finger in a wide range of pies, notably important work in the public sector
-
Card Factory is a stand-out small-cap going cheapIn a digital world, we still value the personal touch. That’s good news for Card Factory, whose unique business model is suited to weather all economic storms
-
8 of the best smallholdings for sale nowThe best smallholdings for sale – from a medieval cross-passage farmhouse in Taunton, Somerset, to a former farmhouse with an orchard in the Welsh Marches
-
How much gold does China have – and how to cash inChina's gold reserves are vastly understated, says Dominic Frisby. So hold gold, overbought or not
-
How to invest in undervalued gold minersThe surge in gold and other precious metals has transformed the economics of the companies that mine them. Investors should cash in, says Rupert Hargreaves
-
Debasing Wall Street's new debasement trade ideaThe debasement trade is a catchy and plausible idea, but there’s no sign that markets are alarmed, says Cris Sholto Heaton
