- ‘Limited Edition’ sneaker prices in China sky rockets.
- Local consumers boycott global brands over comments on Xinjiang region.
- “All Star” version of Li-Ning Way of Wade 4 on the Dewu App reached 48,889 yuan ($7,463) per pair.
- Anta’s Doraemon-themed casual shoes on the platform were also eight times higher.
As China’s local consumers boycott global brands after comments on China’s western Xinjiang region, prices of some Chinese limited edition sneakers soared among collectors and speculators.
Over the last month, Nike and Adidas came under attack on Chinese social media over the same.
According to reports, the listed price of the “All Star” version of Li-Ning Way of Wade 4 on the Dewu App – the country’s largest sneaker resale platform also known as “Poizon” – reached 48,889 yuan ($7,463) per pair, 31 times higher than the official price of 1,499 yuan, the state-owned Global Times reported on Monday.
While Anta’s Doraemon-themed casual shoes on the platform were also eight times higher than the original price of 499 yuan.
However, both offerings disappeared from Dewu, which deleted listings for numerous local shoe models after state media criticised speculation on sneaker prices and taking advantage of people’s patriotic feelings.
On Tuesday, Dewu mentioned that it deleted listings of 20 kinds of sneakers made by Chinese sportswear brands including Li Ning and Anta Sports after noticing abnormal price fluctuation.
One of the most sought-after items is the Jordan 1 sneaker, with some editions currently selling at more than 40,000 yuan per pair on Dewu.