Sneakerheads all over will be pleased to learn that Nike is officially cracking down on the predatory sneaker resale market.
This news was first spotted by the Wall Street Journal earlier this week, and it involves Nike adding some new language to its terms of sale.
The apparel giant will specifically begin bringing down more extreme penalties on those suspected of being resellers, and these include quantity limits, restocking fees and even being straight-up banned.
Nike said it could cancel orders, charge restocking fees, or suspend the accounts of people it determines are buying its items to resell https://t.co/EytNx4nmpO
— The Wall Street Journal (@WSJ) October 12, 2022
Nike is also reserving the right to cancel any orders that are placed by bots, further harshening its crackdown on people who try to gobble up the kicks and resell them for a sharp profit.
Additionally, orders can be canceled on accounts that are found to have a record of either returning a large number of sneakers or exceeding spending limits, which are set by the brand.
“NIKE Stores, including any consumer rights or policies offered in NIKE Stores, are intended solely for the benefit of end consumers, and therefore purchase of products for resale is strictly prohibited,” the company writes in its updated terms.
Check out some Twitter users’ reactions to the news down below.
Nikes “crackdown” on resellers is a joke.
How many times have we heard this?
How many times have things changed?
If product is LIMITED and hard to obtain, even if ALL bots were stopped, guess what folk still gon do?
RESELL, trade, etc.
Focus on less BS retros/dunks instead.
— I sell shoes (@HORHEAD_Sales) October 12, 2022
nike boutta ruin the resellers and I’m here for it 🤭
— T ✨ (@thaliaaruiz) October 12, 2022
Nike should allow resellers and botters to cook up normal Nike website. It doesn’t hurt their business a bit and they definitely will make more money from it. Have NO limits on how many white air forces one can buy… On the other hand, have bot protection for SNKRS.
— DaNikePlug (@DaNikePlugs) October 12, 2022
We should also add that many people have long taken issue with resellers dominating the sneaker market, so individuals will hopefully see this update as a way of essentially levying the playing field.
Fuck the snkrs app, fuck the nike app, fuckk all you resellers fuck all you sneakers head fuck all of you
— Morel (@rogxmor) October 5, 2022
This crackdown notably comes about 8 months after Nike outright sued StockX, a popular online marketplace where sneakers are commonly resold, for allegedly infringing on the brand’s trademark through non-fungible tokens (NFTs).
This lawsuit blasted the StockX NFTs’ “inflated prices and murky terms of purchase and ownership,” alleged that their perceived affiliation with Nike had a negative impact on the brand, CNBC reports.
What do you think about the situation, and do you believe that Nike’s new policies will truly make a difference when it comes to the sneaker resale market?
