Sneaker Market in India: How Gen Z Turned Shoes Into Assets

Once upon a time, sneakers were just for athletes.

You wore them to run, jump, and maybe even dunk.

Now, they’re as much about status as they are about comfort.

The Indian sneaker market has been on fire.

It was worth $3.88 billion in FY24 and is set to hit nearly $6 billion by FY32.

Sneakers now make up 20-25% of the country’s footwear industry, and the hype surrounding them keeps growing.

The formula is simple - limited supply and high demand drive resale prices through the roof.

Nike and Adidas have this game down to a science.

Drop an exclusive pair, make sure there aren’t enough for everyone, and watch sneakerheads go wild.

By 2029, India’s sneaker market is expected to move over 70 million pairs.

But let’s be real, not all of them are going to be worn.

Because these days, sneakers aren’t just sneakers. They’re assets.

Resale platforms like Find Your Kicks India and Sole Search are cashing in on the madness.

A sneaker that drops for ₹15,000? Flip it for ₹50,000 next week. Some pairs even hit six figures.

Adidas and Myntra have seen a 30-40% jump in premium sneaker sales.

And it’s all because of one generation - Gen Z.

50% of India’s population is under 25. That’s 420 million young people by 2024.

And they don’t just buy sneakers - they’re obsessed with them.

Social media fuels the obsession. Instagram, Facebook, and YouTube turn every drop into an event.

Sneaker clubs, meetups, and resell groups have popped up everywhere.

Adidas and Myntra even host “Sneaker Saturdays” to keep the hype alive.

This goes beyond fashion - it’s culture.

Sneakers are no longer just about comfort or sports.

They’re status symbols, conversation starters, and even investments.

Globally, the sneaker market is projected to hit $120 billion by 2026.

In India, the industry is growing at 12-15% annually.

Sneakers have gone from underground to mainstream, and brands are making sure they stay ahead.

Adidas India pulled in ₹2,578 crore in revenue in FY23 - 2.5X growth from FY21.

Nike holds 20% of the sneaker market. But it’s not just international giants winning big.

Metro Brands, Relaxo’s Sparx, and Bata are dominating the local scene, each with massive market caps and retail networks spanning hundreds of cities.

Metro Brands has a ₹30,976 crore market cap and a retail network in 100+ cities.

Relaxo, powered by its Sparx brand, is worth ₹11,005 crore, with Sparx alone driving a third of total sales.

Bata India, with a ₹17,222 crore market cap, runs 1,900+ stores across 1,500 towns.

Of course, with big money comes big problems.

Counterfeits are everywhere.

The fake sneaker industry is growing just as fast as the real one.

Fake Jordans, bootleg Yeezys, and near-perfect replicas have flooded the market.

Every sneakerhead knows the struggle - did you get the real deal, or did you just drop ₹40,000 on a really good fake?

Authentication services are popping up, but the problem isn’t going away anytime soon.

As long as there’s demand, fakes will keep sneaking in.

Still, nothing is stopping the culture.

Sneakers have evolved from performance gear to streetwear essentials to serious investments.

And if you’re not paying attention, you’re already behind.