Nike Sneaker Release Shut Down

Nike fans caused quite a stir on Wednesday.

A campout at the Supreme boutique on Lafayette Street in Manhattan was shut down by the New York Police Department after fans awaiting the new Nike Foamposite release formed dense lines that extended several blocks. Some 800 people reportedly showed up for the launch.

Supreme issued a statement via its Instagram page, citing public safety and the NYPD’s action as the reasons why the Foamposite shoes and apparel would not be sold in-store, but on its website. Once the stock went up on Supreme’s site this morning, the shoes sold out in under a minute.

Sam Poser, an analyst at Sterne Agee, said the incident demonstrated the strength of the sneaker trend. “The street was closed. Nike couldn’t have asked for better press,” he said. “Not only are these $250 shoes from Nike and Supreme flying off the shelves, but higher-priced athletic-inspired shoes from Lanvin and Balenciaga are evaporating, too.”

Matt Powell, an analyst with SportsOneSource, said it was good that the event was shut down, adding that what often drives chaos for new sneaker releases is the rising resell market.

“When you have these releases, tensions run high,” he added. “It’s mostly because kids buying the shoes can flip the goods for three or four times more than what they paid and sell it on eBay.”

Many sneakerheads took to Twitter to offer their opinions:

@AndyHarra: “About to spend my accounting class tryna cop those Supreme Nike Foamposites!”

@LHommeNY: “Commendable job by Mayor DeBlasio shutting down today’s Supreme x Nike release.”

Meanwhile, fans still lined up outside the store in hopes of securing a pair.

@ProtaCity: “People still taking a shot at standing in line for the Supreme x Nike Foamposites Long lines too.”

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