Un jeune Romand raconte la «guerre des sneakers»

A young French-speaking Swiss tells of the "sneaker war"

Theo Manzinali

https://www.watson.ch/fr/societe/mode/259969508-theo-de-resell-lausanne-raconte-la-guerre-de-la-basket

 

Théo Manzinali, aka resell_lausanne on Instagram, has been a renowned "sneakers plug" for several years. These sneaker market specialists act as saviors, finding you the model you're desperate to find. The 24-year-old and his associate Alessio opened their first sales outlet (named after his Instagram account) on February 8, in the Flon district of Lausanne.


Launching his own store might suggest burgeoning success. However, Théo clearly exposes the flaws in his business, speaking of a clientele that has dwindled over the past 10 years.

"Margins are derisory"

The native concedes that "margins are derisory." Most of his sales range between 139 and 199 francs, and he admits to making "10 to 12% profit per pair." He continues:

"In a slow month, I sell an average of five pairs a day. Normally, it's 10-15 daily sales."

The observation is clear, according to Théo: "That's why 90% of resellers have stopped in Switzerland, and even across Europe." According to him, it takes a lot of money to invest, and it's not within everyone's reach. "Eight years ago, young people who started out saw that it was possible to make a 300 franc profit on a pair bought for 100 francs. Today, you can hope for 300 francs profit on 30 sales."

While his shop doesn't fill his coffers, it grants him a certain legitimacy.

"Customers are reassured to see a physical store rather than my bedroom address in Bussigny. But let's be clear: my main income comes from my online store. 90% of my turnover is online."

The young man from Lausanne makes no secret of the fact that this life as a reseller causes him some turmoil:

"It's a risky gamble. It's not sustainable. I work 13-14 hours a day. I try to gain 1% margin here and there. Just 2-3 bad decisions and everything can go wrong."

Théo feels it will be difficult to make a full living from it. "We're trying, we'll see," he sighs, not disheartened, but somewhat disappointed not to have experienced the golden age just before Covid.

A turning point in 2016

"Sneakers have really become democratized since 2016, and reselling experienced a golden age," he continues. This (marketing) turning point is linked to the arrival of Kanye West and his Adidas 350 Yeezy model. "There was enormous demand, and the general public saw that it was possible to make attractive margins." He explains:

"The sneakers were worth 220 francs to buy on the official Adidas website, and resale could go up to 1000 francs. Naturally, there were interested parties."

His companion Alessio agrees: "In 2016-2017, that's when sneakers became more mainstream." The two companions assert that stars and celebrities democratized this trend through Instagram – a platform that can determine a pair's popularity rating.

And collaborations were popular. Sneakers became works of art; brands enlisted heavyweights such as Pharrell Williams and Virgil Abloh (the late founder of the Off-White brand and former artistic director of Louis Vuitton). The latter entered the shoe game, triggering a rush for his creations.

"That's when people started camping out in front of stores."
Théo

WhatsApp groups were then created, and networks began to flourish everywhere.

"It's a private research job. The older ones work with Facebook groups, compiling contacts over the years."
Théo, sneaker reseller.

Today, Théo uses Discord groups, where "5000 to 6000 people" exchange offers and requests across Europe. It's a "want to buy" group, where everyone can make a request for the model they wish to purchase. "It's a group where you pay a monthly subscription of 10 francs to get rid of scams." Because a bad deal can quickly happen - scammers are lurking. In a moment of stress, when the price seems right and the offer is in line, resellers like Théo can lose vigilance, as he confides:

"Scams happen quickly because there's so much money at stake and so many purchase requests in groups. There are dozens of ban requests in the Discord group I'm in."

He tells us that his networks are European and almost never operate in Switzerland. He adds that "there are no resellers in Switzerland." They are mostly found in Eastern European countries. To find his pairs, he therefore shops in Poland or Romania. "There, people are less interested in these shoes. They have stock, but there's very little demand."


And while the market is diversifying and growing enormously, the job isn't always easy. Certainly, "people are less shocked to spend 200 to 300 francs on a pair of sneakers," Théo confirms, but margins are now "increasingly thin."

 

Alessio adds:

"Trends move fast, and some models quickly lose value."

According to Théo, the general sneaker market has lost "an average of 60% of its value."


And why such a downturn? "People don't have as much money anymore, and I'd say it was overvalued," explains the Lausannois. A bubble burst after a big hype, and "now, it's a war to see who can sell their merchandise at low prices."

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Theo Manzinali