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Look at what Sneaker Heads pay for shoes. It's rediculious, and it's not just Nike's. On Nike's side, I see it at pure greed. For what they charge, they coul
by hellbannedguy 5y ago
Look at what Sneaker Heads pay for shoes. It's rediculious, and it's not just Nike's.
On Nike's side, I see it at pure greed.
For what they charge, they could pay an American Worker $40/hr, plus medical? (Yes--I pulled that $40 out my arse.)
My sister has two shoe stores in LA. She made everything here prior to Covid.
She paid her employees $10/hr, and offered zero benefits.
Pre-covid she was a multimillionaire.
(To anyone selling a craft, don't skimp on stuff people throw away, like bags, tissue, fancy price tags. It's about branding. Oh yea, sometimes the higher the price--the more they want it. My sister is a cutthroat businesswoman. I always knew she would be wealthy. She's not a great person though.)
- odiroot 5y ago> Look at what Sneaker Heads pay for shoes. It's rediculious, and it's not just Nike's. They pay for the hype not for the quality.
- lotsofpulp 5y agoMinimum wage in CA has been more than $10 per hour since Jan 1, 2017. I also find it highly unlikely an employer would have found a $10 per hour worker in LA even 10 years ago. Not sure what sneaker heads have to do with anything, as they are not a meaningful portion of the broad market for shoes. Nike has a ~10% profit margin, and that would be a liberal definition of pure greed, relative to other businesses’ profit margins. Especially considering they have no lock in or moat for their product other than people’s individual desire to buy them.
- lovecg 5y agoHint: lax border enforcement combined with draconian immigration law creates opportunities for wage arbitrage.
- lotsofpulp 5y agoThose factors are not in play in upscale shoe stores in LA. And I would still ascribe a low probability of finding even an under the table or illegal immigrant $10 per hour in LA in the last 10 years.