Mayor on Owning a Sneaker Store: It's Not Really Lucrative

a lot of people who have this type of you know addiction to shoes and calling me an addict oh yeah I have actually I am mayor I'm an addict I know a lot of minute starting sneaker sneaker stores have you ever considered owning your own sneaker store yes and now I think I can get an account because of the people that I know right I will be disappointed if I didn't but in the same token and these are not quoted numbers this is me guesstimating because I know the store owners if you have a life in New York and your stores 158 Rivington Street in the middle of no ho Soho House and Street whatever you want to call it downtown premier location and your rent is ten thousand dollars a month I don't want that problem I can have the same store in Cincinnati my man in corporate I could have another store in Kentucky like oneness or wherever else have the same shoes same profit margin same clothing rent Con Ed and cables only 2500 out of them oh I'd rather do that so I'm not out there so I don't want to do that your Jersey the [ __ ] is expensive in Jersey not like Manhattan I understand out like no - any those over but if I want to put a store in Edgewater on River Road you're talking seven thousand a month opposed to ten thousand okay I've done the research you know I'm saying like if you talk to Tina grow with Packer is the hack is small yeah pack AB in there honey is you know I'm saying so I go back to pack a small yeah I'm saying like I saw five go back to pack yeah I'm saying so you're talking you're talking different you know I'm saying like I don't want to go in Jersey like if you're on Dean Street in Inglewood it's expensive I'm saying like if I'm next I'm saying like if I'm in the mall is expensive yeah so if I want to strip malls expensive so it's different so I've had is gone through mama but it's not as lucrative as everybody thinks although I mean and then you get in trouble when your back door to see I've been around Nike a long time to learn like when he stores I'm not making their numbers you just can't survive all retros and limited releases so you still got to have your regular air forces your regular air max you're better than no name air maxes for $90 if they don't sell you got to get them [ __ ] stuff you sell off your shelves you don't want to put them on sale so you back doored up [ __ ] someone 15% above wholesale to other stores that don't have accounts and you get caught the account is done right is it worth it yeah to 15% above hoser yeah I mean stores are difficult stores if you ain't got that nish that a niche whatever you want to call it you ain't got that certain thing to go with it or that apparel to go with it it's a dangerous game well you know I mean I have friends who own stores who are multiple stores and and they broken you know it down for me were they they basically say this is what happens okay you want some some retros you got to buy all this other [ __ ] that you probably don't work and the consumer takes our mouth to get the restaurant that's a consumer the store oh you mean the brands in general yeah I merely the retail store you can't say okay you can't you can't tell Jordan just give you retros y'all giving you flight 45 zigzag team genève Jordan apparel I don't really get it you have to buy all this other stuff in order to get just a limited number of the retros because obviously people have a choice there's just like I just order the retros right I know those will sell but it's like yeah my answer to that is now you know my Nikes one of the biggest fortune 500 companies in the world yeah and in fact if you really think about it it seems like Nike really seems like there's some what try to squeeze out the retailers also because they make a much higher profit margin off Nike calm yeah but it's not at the end of the day there's this a lot you got Nike got a lot of doors man it's still a lot of Nike doors and two Nikes credit again its evolution if your store let me give you stole from the Bronx if it's 2015 and your store still look like Frank sporting goods in the Bronx from the 90s something's wrong with you you don't deserve that account you don't deserve my user ID do deserve Puma number so now the Nikes thing in a deist thing too if your store even if you a mom-and-pop store make this topic Harry's an abuti taunting Harry's one of the most famous stores that's like Walters Tomba Gary's zombie guy he's been around forever Blue Ribbon sports wear on a receipt like that's BRS Nike was Blue Room in sportswear before they were Nike um original grandfathered into the whole [ __ ] got a storm Brooklyn he got a stolen hunt six and third Avenue that's what jay-z goes give me that whole wall into ten and a half and in the streets watch a movie legendary store he updated his store over the years he's still a sneaker stores a mom pasta it's not a boutique but it looks good so he still has his account if yo [ __ ] still look like KP con back in the 80s and the 90s and it's 2015 you don't disturb your account cause I'm concerned right yeah we I heard a lot of a lot of getting certain types of shoes is the location of how the show how the store looks it was again Nike bases you at Nike bases you on certain things I mean if you know if you're pinnacle or better or best whatever the account is that you have that they give you if you stole it like [ __ ] you don't deserve best yeah you deserve good you know I'm there if your [ __ ] is a boutique you deserve tr0 which is best better pinnacle whatever they want to call it now anymore they call it no more I used to be around so much with them it I know what it's called but I don't know the terminology they use anymore okay but it's the same thing same thing with the I want to Neiman Marcus in Beverly Hills they sell g'wan she and Neiman Marcus emails I I said I seen his nice jiwon t-shirt that I wanted she was dope I tried it on a hat my size how they wanted to pursue you wants to ship it to you mayor now I get it when I go back to Jersey I go to Garden State Plaza in New Jersey which is not a Short Hills and out of Beverly Hills they don't carry do you on she in that Neiman Marcus certain stores get something [ __ ] I wanted one of shows which is the super duper expensive rich mall in Jersey yeah no G one's here and here either so now I'm mad that I didn't buy it when I was in Beverly Hills same thing with Nike Stowe's so what does it take to really have a successful sneaker store these days other [ __ ] other [ __ ] everything else but but it seems like you know and this is like I remember I talked to a to Matt Powell you know that is no he's a he's a sneaker analyst he works I believe he was for Forbes now but originally when I met him he worked for an analyst company were basically the like the stockbrokers would go to him for information about you know Nike and other brand so I had fun companies now resellers not even for that I mean for actually no I mean for people who buy Nike stock Monica analytics exactly and he was saying how I have Nike stock yeah I did too a lot of it but he was saying how nervous the retailers are these days because so much of their sales is coming from one brand that's the store owners fault take a chance take a risk it's nothing wrong Carrie and PRPs in your store along with Nike there's nothing wrong with carrying blood brothers or carry and Tecmo I'm saying like if I had a sneaker store the first brand I'm carrying second I'm saying like all carry blood brothers or a billionaire boys club or whatever the case may be and I'm saying people stay wherever you say I don't know I'm saying but um you know those are the kind of things that I'm looking to grab stuff that I weigh I'm looking to have in my store it's the first thing that I'm doing you got to have multiples you got to have eye candy when you work in foot lock and I've never worked there but I know guys that manage and so they teach you how to make your commissions of multiple sales if you sell that sneaker you better try to settle sack with it try to sell the sugar coming with it that's what you make your money with multiples they call it multiples no no they still call it that I'm going back on it is the you know I'm saying but that's the key so you got to have up a [ __ ] in your store I want you to be able to go on my store and if you can't find what you're looking for grab something else sure now you know in every industry I don't care whether it's tech I don't care if it's housing I don't care if it's sneakers there's always going to be bubbles and bubbles always burst do you feel that we're in the middle of a bubble right now when it comes to sneakers and athletic apparel in general nah I'll tell you why because these brands are able to take it elsewhere now we're going to go flat TV talk for a second I used to have one of the hottest nightclubs in New York City yeah I used to have club [ __ ] okay number little Kim in the tunnel Anessa sipping expresso like I was club [ __ ] was mine okay I had Essos if you had on sweatpants and sneakers you could not walk through my door now you can't get into a club unless you're wearing or Rickon ones you drop crotch sweat pants and socks and sneakers or less your tech fleeces on right like if you get dressed to walk into a club and you're like [ __ ] fool if you got your little button-down shirt on your little Hickey Freeman sports jacket oh I know and I'm saying oh well your Varvatos button-down shirt you look stupid I'm saying that's just right now but again it's evolutis this time but the fact that they were able to take their sweat suits which their old basic sweat suits are still in Dick's Sporting Goods and [ __ ] 4,000 and Modell's know you can still buy them $30 sweat suits but now you walk into Nike town you walk here these boutiques and you got two hundred and twenty five dollar Nike white-label you go to mr. Porter calm you've got Nike white label two hundred and fifty dollar jackets tech fleece jackets regular tech fees is $135 on our dollar sweat pants like that [ __ ] is cool you get into the club with that so it's it's the fact that they can as long as they can keep evolution going with everything else and I'm saying check please well climb it mmm like they keep they keep me inventing the wheel and as long as consumers keep sucking it up I don't think is going nowhere I think shoe sales are all-time high they are and this is why I'm saying is it a bubble because you know you can't the thing about any business I don't care what it is there is no such thing as infinite growth I agree there is no you cannot keep growing forever at one point the growth will slow down and you know depending on what kind of business it is slows down but if you know the burst whatever else what if you overcome the bubble and it's only deflated for X amount of time but you know I'm saying so the stock market closes again at the stock market at 17,000 right now and in 2009 it was under 10,000 there 9,000 whatever it was it was and it popped back up two years later yeah that's not a real bubble because if you're going on a shot if you go on one of these like that [ __ ] was only down for a hot second in there bang well I mean it's more than 17-thousand right now yeah yeah I'm saying like so is is different like I don't want to call it a bubble I got call it a quick gap you know saying like well call it a bubble means like it how often will they hit rock bottom I don't see a hit and rock bottom often because there's always and then the thing about us and I think about our culture is as we get older and phase out there's more coming in right and he's more coming in want to be like their parents do they do you really want to be like your parents cuz isn't um I wanted to call his dad's on the planet so I can they want to be like you but but you you're not a typical parent you know rebo's both people's dads don't got a Cuban link chain oh I get it I get that but but but some of these kids that I know that I see on sneaker lines and all that stuff and talk to me and find a business and make it the way they talk to me and their parents have paid me to have dinner with their kids for bar mitts for dinners and all that [ __ ] that's the whole novel hustle be I'm sayin laughter oh another hustle familiar okay Mayer consultants knows how to eat you know I'm sure so when I do that and I see these rich kids whose father his condo is 79th and Madison the whole block but his kid is selling shoes and buying balm on and and Zevon seeing all that with his sneaker money because his dad don't give him but he knows his dad has a black card and he knows his dad as well for zillion dollars so in his in his mental he wants to be like his dad but he's doing it on his own mm-hm it's the same thing as my kids want to be just like they dad I remember judge dawn and Kanye saying the davis-monthan for retro retro really yeah do you listen no that does me repeating what I hear stop it dawn on the don't see fnatic had to do fairies nope that's it was a comical comment in every damn shoe that I wanted when I was growing up that my parents wouldn't buy me that's what I wanted I wanted a Bronco I bought a 1973 Bronco convertible

Channel: sneakerwatchtv

Views: 280,312

Keywords: sneakers, sneakerhead

Id: LHMiiGBWKTQ

Length: 13min 32sec (812 seconds)

Published: Fri Jun 12 2015