Rising Prices in the Sneaker Industry Thanks to Millionaire Celebrities

Everyone enjoys a good pair of sneakers. On average, a solid pair of skateboarding shoes costs about $50 to $100. According to some NBA superstars and rap icons, however, the $140 to $150 price range is more reasonable.

“As humbly as I can say it, I’m not a $88 player,” said Kevin Durant, the newest member of the Golden State Warriors. “I’m an elite player in the league.”

Time reports that Durant, who already has a net worth of more than $120 million, just signed a two-year $54 million contract with Golden State. But times are still tough in the sneaker industry, apparently.

“On these shoes,” Durant said, “you get it all, and for a nice price. You get the newest innovation, you get the newest Zoom bag, and you get my story along with it. If you’re a fan of what I do in the game of basketball, this is perfect for you.”

Many of Durant’s would-be sneaker-buyers and fans are upset not only with the price hike of those sneakers by a whopping $62, but also with his recent decision to join the only team that deterred his Oklahoma City Thunder from winning a championship during the last two seasons. The Huffington Post posted a video of a young Thunder fan being brought to tears after hearing about Durant’s decision to move.

“I hate him,” said the little boy, “I’d punch him in the face.”

That same week, another celebrity announced the launch of his own footwear brand.

Rap phenom Future just released a Reebok sneaker design that will sell for around $140 a pair. According to DJBooth, rap culture and sneaker culture are still synonymous.

“This partnership not only continues our brand’s longstanding legal of working with the world’s best hip-hop artists,” said Todd Glinksy, vice president of Reebok Classic and Entertainment Global, “but also solidifies Reebok Classic’s commitment to never back down from pushing boundaries. I’ve had a preview of what’s to come from Future and Reebok and I can’t wait for everyone to see.”

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