Rare and desirable sneakers can be resold at high markups as a part of the large resale industry inside the already lucrative sneaker market.
For better or for worse, ugly (and expensive) sneakers are in style.
Balenciaga is a Spanish high-fashion house known for its luxury items and streetwear.
Nike is the largest sportswear company in the world.
Virgil Abloh is an American fashion designer known for bridging gaps between high-end fashion and streetwear.