The global sneaker market valued at approximately US$79 billion (£56 billion) in 2020 and is predicted to reach US$120 billion (£85 billion) by 2026. With such huge growth, it is unsurprising that they are considered big business. A new exhibition explores how the shoe became an undisputed cultural symbol of our times.
Comfort is king
The last decade has seen a huge shift in how sneakers are worn
- Footwear is now the biggest selling category in the online luxury market and sneakers have made a significant contribution to this growth
- High fashion brands from Gucci to Balenciaga are setting the pace in the luxury sneaker market
From tennis shoes to track
The earliest sports shoes were created by The Liverpool Rubber Company in Liverpool, England
- These were known as sandshoes and were worn by Victorians on their beach excursions
- Dunlop launched the Green Flash model, which became iconic
- Adidas and Nike shaped the evolution of the sneaker from sport to style
- Nike’s first commercial design was the Cortez, which was cushioned for running
The Commercialization of Cool
Research by Yuniya Kawamura on sneakers defines three waves of the phenomenon
- The first wave in the 1970s was defined by an underground sneaker culture and the emergence of hip-hop
- Second wave began with the launch of Nike Air Jordans in 1984
- Third wave is marked by the digital age and the resulting growth in sneaker marketing and resell culture
- Sneakerheads who collect and trade sneakers have ensured that they maintain cult status
