SNEAKER CITY: Luxury sneaker consignment seller Presentedby has opened a space in Le Bon Marché in Paris, with two new stores planned in the near future. The space will feature exclusive pieces as well as collaborations from Adidas and Yeezy; Nike and Travis Scott; Rimowa and Off-White, and the Air Dior capsule collection.
The London-based retailer’s biggest ticket items are Dior’s sellout Jordan collaboration, according to Riz Ahmed, cofounder of Presentedby’s parent company Undercover Brothers. Following their release in late June, a limited run of 13,000 pairs at around $2,000 a pop, the resale price is about $10,000. Ahmed noted that prices climb to $25,000 for smaller and larger sizes.
The Sean Wotherspoon Nike Air Max starts at around $1,500 and the Nike x Sacai at $1,000. While the original Presentedby store in London’s Fitzrovia and shop-in-shops at U.K. department store Harvey Nichols have historically catered to visitors from the Middle East and Europe, the new stores, planned for Mexico City next month and the Dubai Mall in October, will operate with a different strategy, catering more to locals, said Presentedby director Ridwan Ettoubi. The executive explained that although the new stores had been initially planned for the spring, their local focus has an increased resonance now that the pandemic has brought most international travel to a standstill.
The stores will feature rotating branded installations. Le Bon Marché will carry a Dior and Shawn Stüssy surfboard as well as the Dior BMX bike. These were originally released in runs of 100 and 150, retailing for around $10,000 apiece, but their resale value now stands at $25,000 and $50,000, respectively. Next month, the store will feature the Louis Vuitton x Supreme collaboration dirt bike and drum kit.
“We don’t sell online, so if someone is going to leave their house to go shopping we need to make it worth their while,” Ettoubi said.
Presentedby is a subsidiary of Undercover Brothers, which also owns online marketplace Klekt and shoe protection business Crep Protect, launched in 2012. Attending worldwide sneaker conventions was the genesis for Presentedby, which began in 2017. Stores now feature a sneaker reconditioning area.
Crep started out selling a shoe-protection spray, but now holds the worldwide license for shoe-care products in Adidas stores. This year the brand will launch a limited-edition Crep Protect cleaning product with brand ambassador DJ Khaled.
The company’s turnover for the year ended in February was around $40 million. A second London Presentedby store is planned for December 2021.