Jejouw: Alasan Kenapa Sepatu Bisa Semahal Itu

Summary

The transcript explores the sneaker resale culture, with a focus on the evolution of the market from Yeezy’s collaboration with Adidas to the rise of limited-edition releases and hype-driven reselling. The speaker shares personal experiences as a reseller, highlighting the difference in sneaker culture between the U.S. and Indonesia. The discussion touches on the economics of high-demand sneakers, brand collaborations, and the impact of public figures like Kanye West. It reflects on how hype-driven pricing influences the value of products and questions the sustainability of the resale market over time.

Takeaways

• 😀 Kanye West's partnership with Adidas in 2013 marked the beginning of the Yeezy phenomenon, with people camping out at stores to buy limited-edition sneakers.
• 😀 Reselling sneakers became a profitable business model, with some shoes like Jordan 1 and Yeezys fetching significantly higher prices on the resale market.
• 😀 In the early 2010s, sneaker culture in America was much more visible compared to Indonesia, where sneaker queues were unheard of at the time.
• 😀 The speaker, Jejo, started as a reseller while studying in America, capitalizing on high-demand sneakers like Jordan 1.
• 😀 Some sneaker collaborations, like Yeezy Pirate Black, could be bought for around $8 million in America but were resold for as high as $25 million in Indonesia.
• 😀 Hype theory in the sneaker world refers to the practice of creating demand for limited-edition items, making them highly sought after and valuable in the resale market.
• 😀 The speaker compares the hype around sneakers to the exclusivity strategies of luxury brands like Hermes, who create demand by limiting access to their high-end products.
• 😀 Hype-driven products can have inflated resale prices, but this strategy is sustainable as long as the economy is strong and demand remains high.
• 😀 The sneaker market can saturate when brands re-release the same products repeatedly, causing customers to lose interest in purchasing them at premium prices.
• 😀 The future of collaborations may lean more on cross-cultural intersections, blending different genres and industries to create unique, highly anticipated products.

Q & A

What was the impact of Kanye West's partnership with Adidas in 2013?

Kanye West's partnership with Adidas in 2013 revolutionized the sneaker culture, especially through the launch of Yeezys. It led to a surge in sneaker reselling, with people lining up for limited edition releases and creating a new wave of hype-driven demand.

How did Jejo's background as a reseller influence his views on the sneaker industry?

Jejo's experience as a reseller, especially in the Indonesian market, gave him unique insights into the dynamics of sneaker drops, scarcity, and the economics of reselling. His story about reselling Jordans highlights how he turned sneakers into a profitable business.

What was the significance of Jordan 1 sneakers in the sneaker reselling market?

Jordan 1 sneakers, especially limited editions like the Jordan 1 'Bread' and 'Royal,' became highly sought after in the reselling market. They had a significant price markup due to their scarcity and the hype surrounding their release.

Why were Yeezys, particularly the Pirate Black, so valuable in the reselling market?

Yeezys, especially the Pirate Black model, became highly valuable due to their limited release and high demand. Jejo recalls purchasing them for a relatively low price in the U.S. and reselling them at a substantial profit in Indonesia.

How did collaborations between brands impact the sneaker market?

Collaborations between brands, such as those between Nike, Adidas, and high-end fashion brands, created hype around limited edition products. These collaborations often led to massive price hikes in the resale market as scarcity increased perceived value.

What role does hype play in the price of sneakers?

Hype plays a central role in driving up the price of sneakers. Limited releases and collaborations create a sense of exclusivity, leading to inflated resale prices as buyers anticipate future value increases.

What does Jejo think about the sustainability of hype-driven products?

Jejo believes that while hype-driven products can be profitable when the economy is doing well, their sustainability depends on whether brands continue to produce exclusive, limited items. If items become too widely available, the hype and high resale prices may diminish.

What is the difference between general release (GR) sneakers and limited edition sneakers?

General release (GR) sneakers are widely available to the public, often at retail prices, while limited edition sneakers are produced in smaller quantities and are typically sold at higher prices due to their exclusivity and high demand.

How did Jejo view the collaboration between Gucci and Balenciaga?

Jejo viewed the Gucci-Balenciaga collaboration as a somewhat underwhelming effort, particularly due to its focus on simply combining logos rather than offering a unique or creative product. He questions if such collaborations are starting to become gimmicks.

How does the sneaker industry use storytelling to maintain interest in certain products?

Storytelling plays a key role in maintaining interest in sneakers. For example, sneakers with a rich history, like the Jordan 1, hold their value due to the narrative behind them, such as their connection to Michael Jordan's career and cultural significance.