Call it a multi-billion dollar industry wrapped up in shoeboxes. From classic, low top, colorful to vintage and cool, sneaker trends are whipping up spend with a tearing frenzy, with brands localising their approach within regions to serve different communities. Cue in to the sneaker culture tearing through South Asia…
Last year saw a lucrative growth in the Indian luxury industry, according to a recent Bain & Company report. The luxury market in India, valued at a cool USD 8.5 billion, is set to expand 3.5 times, by 2030. With athleisure making it to the marquee, the growth of sneaker freakers has given a plum push to the sneaker sales. Sneaker Con Singapore held in April this year marked the convention’s first-ever appearance in Southeast Asia. The staggering response brings in the next regional edition in Osaka in July. The growth of Korean and Chinese brands, the popularity of the sneaker culture in countries including Philippines, Singapore, Thailand, and the seriously growing market in India has pitchforked the soles to the heart of booming commercials.
India’s 1.3 billion hearts comes with an average age of 29. The country, though one of the most populous, also has one of the youngest populations globally. “The future is the youth, and the youth love nice shoes. It is as simple as that,” says Abhishek Gandhi, Director and Creative Head, All You Can Street (AYCS) – a progressive platform that curates immersive experiences and live events for sneakerheads, with a focus on home-grown labels. “There has been a shift in fashion in keeping with the global trend of buying and collecting sneakers – we are able to create our own unique subculture, giving buyers access to different brands and styles,” he says, slipping into his New Balance x Salehe Bembury 574 yurt sneakers.
Shilpi Madan for BurdaLuxury