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.
-
Families suffer £20,000 lost income growth – are you feeling the pinch?Average incomes for working age families have increased by just 7% in the past two decades, research suggests
-
How to achieve a secure retirement, as more retirees admit to struggling with debtTwenty-six percent of retirees now have unsecured debt – a sharp rise compared to two years ago – with many underestimating how much a typical retirement costs
-
Small UK industrial stocks are hidden gemsOpinion Ed Wielechowski of the Odyssean Investment Trust highlights three of his favourite British small-cap industrial stocks
-
Aurora Innovation is running on empty – is it overvalued?Aurora Innovation, a maker of self-driving trucks, may have promised far more than it can deliver
-
'Ride the recovery in emerging markets': Gustavo Medeiros of Ashmore Group tells MoneyWeekInterview What's the outlook for emerging markets? Gustavo Medeiros, head of research at Ashmore Group, gives his analysis and reviews progress in developing economies
-
What is the Enterprise Investment Scheme and should you have one?The Enterprise Investment Scheme is tax-efficient and potentially lucrative. Taking a chance on the scheme could trim your family’s IHT bill, says David Prosser
-
The alcohol industry is suffering as consumers sober up – is it still worth investing in the sector?Changing consumer tastes are rocking the alcohol industry, but the best players are adapting their strategies. Buy them while their shares are still cheap
-
A strange calm in creditCorporate bond markets remain remarkably relaxed, with yields that offer little compensation for risks
-
'The City's big bet on green finance fails to pay out'Opinion Insurers and banks are backing away from “green finance”, and there is not much sign of the green boom we were promised. That’s a problem for the City
-
Six top investment trusts for smaller stocksLiquidity constraints mean investment trusts are best placed to seize the juiciest opportunities
