When Culture Is Currency—but Profit Isn’t Shared

Sneakers aren’t just shoes—they’re cultural icons, status symbols, and economic gold. From street courts to museum exhibits, Black communities have continuously fueled the heartbeat of sneaker culture. Yet today, as giants like Nike, Adidas, and Dick’s Sporting Goods unify distribution and marketing muscles, the financial rewards often bypass the communities that built the hype. It’s time to correct that disparity—and reclaim both cultural influence and economic power.

One standout example is Saysh, founded by Olympic legend Allyson Felix and her brother Wes. Born from Felix’s fight against inequitable maternity policies with Nike, Saysh is the first women-centric sneaker line built by women, with innovations like FemiformityFIT—shoe lasts designed for wider forefeet and narrower heels—and pragmatic policies like free maternity returns. The brand redefines what it means to center equity in design, business, and marketing. It also serves as a blueprint for what community-rooted ownership looks like in an industry where margins are often captured by the few.

The Market Is Booming—but Ownership Isn’t Equitable

The global sneaker market is soaring. Valued at nearly $90 billion in 2024, it’s projected to expand to $157 billion by 2033, growing at a 6.4 percent compound annual growth rate. Meanwhile, secondary resale markets are exploding: the resale industry hit $11.5 billion in 2023 and is expected to climb to more than $51 billion by 2032. Despite these lucrative figures, only 5 percent of sneaker retailers in the U.S. are Black-owned—a stark mismatch between cultural influence and economic participation.

Margins Favor the Corporations, Not the Creators

Nike continues to dominate. In 2023, its footwear segment made up about 68 percent of its total revenue, growing from $29.2 billion in 2022 to $33.1 billion in 2023. Profit margins are substantial: its trailing-twelve-month gross margin as of May 2025 hovered around 42.7 percent, with analysts expecting a rebound toward 45 percent once inventory clears. Upstart brands like Hoka and On boast even higher margins, at 55–60 percent. Sneakers aren’t just profitable; they’re one of the most margin-rich consumer products on the planet.

Cultural Capital vs. Economic Capital

Black culture—via hip-hop, basketball, and the artistry of designers like Virgil Abloh—has been instrumental in transforming sneakers into global commodities. Abloh’s partnership with Nike, especially “The Ten” collection, pushed sneakers into luxury spaces and treated them as art and investment-grade assets. Sneakers derive their cultural cachet directly from Black creativity, but the financial rewards overwhelmingly flow to corporations.

Seizing the Upside in a Consolidating Market

Launch Niche Sneaker Franchises

One path forward is launching community-rooted sneaker franchises that partner with major brands for inventory while curating products for specific audiences. Imagine a Black-owned boutique sneaker store in Atlanta carrying mainstream Jordans alongside HBCU-inspired colorways. The authenticity of cultural relevance paired with access to distribution could create powerful value loops.

Partner With HBCU Fashion Programs

Campus-based incubators could design exclusive sneakers that reflect student culture and history, launched through pop-ups or bookstores. Royalties could support students directly while giving brands authentic, innovative designs. These initiatives would make HBCUs not just consumers of culture, but producers at scale.

Elevate Black Fashion Through Showcases

National or global “Sneaker Summits” could highlight Black designers, entrepreneurs, and sneaker culture in cities like Detroit, Houston, and Atlanta. Runway shows, art exhibits, and limited-edition drops would honor heritage while generating direct sales and attracting brand sponsorships. Think of it as Fashion Week meets Black sneaker culture.

Additional Avenues to Capture Value

Vertical Integration

Black-owned cooperatives could enter earlier stages of production—like tanning leather, working with sustainable materials, or using 3D printing. A Black-owned tannery supplying overlays for HBCU capsule collections, for example, would ensure margin capture upstream.

Black-Owned Resale Platforms

With resale projected to top $51 billion by 2032, a Black-owned resale marketplace could function as a cultural-first alternative to StockX or GOAT. Editorial storytelling, cultural governance, and reinvestment in Black designers could differentiate it while reclaiming a portion of the booming resale economy.

Sneaker Investment Vehicles

Sneakers can also be treated as financial assets. A community-based sneaker fund or co-op could allow collective ownership of hyped releases, letting neighborhoods or student groups invest together and benefit from long-term appreciation.

Incubator Spaces

Urban “Sneaker Labs” could tie all of this together—shared design spaces equipped with 3D printers, sustainable material workshops, and mentorship from industry professionals. These labs would serve as incubators for the next generation of designers and entrepreneurs, ensuring innovation doesn’t just come from corporate boardrooms but from the same communities that made sneakers cultural icons.

Closing: Reclaiming the Sole

Sneakers are a multibillion-dollar industry built on Black creativity, but consolidated markets hold the keys. Reclaiming ownership means more than celebrating style; it means building economic engines around design, production, retail, resale, and investment. The sneaker boom will only grow from here. The question is whether Black communities will continue to fuel it without capturing its upside—or finally turn cultural capital into economic capital.

Own the sole. Own the future.