There is a reason that collaborations are at the heart of sneaker culture: they allow brands with distinct identities to create a synthesis of something truly new. They can even transcend borders and bridge cultures that are in every other way distinct. There is no better example of this than the Nike x Sacai collaboration, which brings together two innovative brands from opposite sides of the globe.
Japan and the United States are two epicenters of the global sneaker game. And Nike, the biggest sneaker brand on earth, has used its collaboration strategy to bridge American and Japanese culture for the better part of two decades. It began in 2000, when Japanese designers Junya Watanabe of Comme des Garçons, and Hiroshi Fujiwara of fragment design, became the first designers to ever collaborate on a Nike shoe. Now, 20 years later, Nike continues that tradition with Sacai.
Image by Nike
Nike first partnered with Sacai in 2015 on an Air Max 90. But it wasn’t until 2019 that the collaboration truly exploded with the release of the original Nike LD Waffle Sacai, widely considered one of the top sneakers of the year. Since then, the partnership has been on a historic run. They’ve charted two of the ten most-sold Nikes of the last year with their most recent Sacai LD Waffle Nylon, and their other models have become some of the fastest appreciating non-Dunk Nikes on StockX.
Nike Sacai shoes have consistently sold massive premiums across the board, but not all Sacai Nikes have performed the same. We crunched the numbers to discover what elements make a successful Nike Sacai collaboration and why the upcoming Nike Sacai VaporWaffle could be their biggest release to date.
Nike Sacai Waffles On The Rise
Prices for Nike Sacai shoes are rising overall, but the biggest gains have come from their Waffle releases. The following graph shows the average resale price of Sacai Waffles and Sacai Blazers over the last six months:
In March, the difference in resale price between the two models was minimal. The Waffle was reselling for $301 while the Blazer was reselling for $242; a mere $59 difference. But over time, prices for the two silhouettes have diverged. Sacai Waffles have appreciated at over 2x the rate of Sacai Blazers such that today, the average Nike Sacai Waffle is selling for $143 more than the average pair of Sacai Blazers.
Considering that there are almost twice as many Waffle releases as there are Blazers, this price disparity is astounding. One would think that the greater supply of Sacai Waffles would make them appreciate at a faster rate. Instead, the opposite has occurred. Some of the differences can be attributed to a general demand for the Nike Sacai LD Waffle – a popular affection that traces back to 2019’s buzz. But as we looked deeper into the LD Waffle catalog, we found that two specific releases played a major role in the silhouette resale spike.
The above chart compares the resale appreciation for last year’s Nike Sacai LD Waffles, showing the difference between their release-week price and September 2020’s average. The first run of Nike Sacai Waffle releases, the Blue Multicolor and Green Multicolor Waffles pictured at the top of the chart, recorded a significantly lower release-week resale average than the second wave of releases. Those original Nike Sacai Waffle colorways debuted for around $375. By contrast, the second wave of Waffles began selling for between $450 and $575 the week of their release.
Yet, while they debuted at a lower price point, that first wave of Waffles saw huge appreciation and over time. Since their release, the Nike Sacai LD Waffle Blue Multicolor and Green Multicolor releases gained $290 in resale value, on average – a 78% increase. On the other hand, the second run of Nike Sacai Waffles has only gained a comparatively meager $81, on average. Sacai’s second wave of Waffles might have started strong, but like the tortoise and the hare, the first Sacai Waffle drop has shown tortoise-like persistence and is now winning the race to resale royalty.
Multicolor Madness
The surge in resale value for the Blue Multicolor and Green Multicolor Sacai Waffles has elevated the Nike Sacai Waffle category to new heights. We know that the LD Waffle design is a critical element in creating a successful Nike Sacai release, but there is another element that can turn a mid-tier grail into a resale phenomenon: colorway.
As we have seen with Jordan 1s and Yeezys, colorway matters. For Jordan 1s, new releases that feature traditional colorways, OG color blocking, and high-top silhouettes tend to perform better than Jordan 1 Mids or Lows with bright colorways. For Yeezys, triple black and triple white colorways in all models typically resell for more money than brown, earth-toned colorways. Nike Sacai Waffles are no different. There is a desired look for Waffles in the eyes of Nike fans, and that look involves a whole lot of color.
The data above shows the average resale price for multicolor Nike Sacai waffle colorways compared to black/white colorways. In the third quarter of 2020, multicolored LD Waffles outperformed black/white colorways by over $200 in average resale price. That is a notable difference.
Neutral colored sneakers tend to be universal, and in most cases, everyday wearers buy them at higher rates. It is much easier to pair outfits in your wardrobe with a white or black sneaker than with a bright, multicolored sneaker. But for Sacai Waffles, that isn’t the point. Vibrant colorways enhance the abstract, unique design of the LD Waffle that fans love. With silhouette and colorway in mind, the next Sacai Waffle looks promising.
The Nike Sacai VaporWaffle
Image by @Yankeekicks
The Nike Sacai VaporWaffle is set to release in just a few weeks and the anticipation is through the roof. The shoe made its debut earlier this year as part of the Sacai Fall 2020 Menswear runway show, and featured an even more abstract design and palette of colorways than its predecessor. After a series of delays, the first few colorways will finally drop Friday, November 6th, and we expect the hype to pick up where it left off.
Through their collaboration with Nike and reinvention of the Waffle silhouette, Sacai has been elevated from an experimental Japanese fashion label to a legitimate power player in global sneaker culture. If Sacai continues to run with this beloved model and succeeds in taking on new design challenges with untapped silhouettes, the sky is the limit for their legacy in the sneaker space.
