Pharrell Williams is selling a limited edition pair of shoes in a collaboration with the brand led by Karl Lagerfeld, Adidas, and Colette in Paris
The resale value on these shoes is enough to make any sneakerhead Happy.
Pop star Pharrell Williams has released the latest product in his ongoing collaboration with Adidas, a take on the sportswear label’s NMD Hu shoes that he also worked on with Chanel. Only 500 pairs of the shoes, which had a retail price of 1,000 euros ($1,180) were made and shoe aficionados had to pre-register online for the chance to get their feet into a black-and-white pair.
According to Colette, the cult Paris lifestyle store that’s exclusively selling the kicks, 120,000 signed up before the cut-off date of Nov 21 for the selection, made by a court bailiff. (Justin Timberlake popped by a launch event on Tuesday and snagged a pair.) For mere mortals—albeit ones with huge purses— the results will be released on Turkey Day. An exec at the French shopping landmark told Women’s Wear Daily that the resale value of Chanel’s NMD Hu had already shot up to a jaw dropping $32,000. Pharrell predicts that they could reach a high of $40,000.
In either case, this would make the Franco-German-American collab the priciest pair of sneakers ever sold. As of mid-2016, the sneaker with the highest resale value was the retro Air Jordans worked on by rapper Eminem and workwear brand Carhatt, according to StockX, a resale marketplace. And even those only went for around $21,000.
Since the kicks are the first product that Chanel has ever worked with another fashion brand on, it’s no surprise that the NMD Hu has celestial resale value. An analysis by Tradesy of second-hand handbags found that the Karl Lagerfeld-helmed brand and fellow French labels Hermès and Goyard were the three bold-faced names that retained the most value in the resale marketplace. A secondhand Chanel bag can be resold for as much as 83% of its retail price and given that the Pharrell take has such cultural resonance and exclusivity, they’re likely to go for much, much more.
Chanel was convinced into the partnership by Pharrell, who earlier this year became the first man ever to front a Chanel bag campaign when he signed up as an ambassador for the Gabrielle bag. A senior exec at 31 Rue Cambon brand told WWD that the partnership was a “gift” to Colette, which helped launched the careers of high fashion designers like Jeremy Scott and Sacai. The store is closing its doors after 20 years on Dec 20 because its eponymous founder is retiring from the fashion retail business.
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