Sneaker Investing, Sneaker Funds, and Expanding into the U.S. with PUSHAS CEO Justin Truong
This week, Horacio sat down with Justin Truong, Co-founder & CEO of PUSHAS, a sneaker marketplace (and sneaker fund!) based in Australia which is on the heels of global expansion. Discussion topics include: Building PUSHAS from the ground up by trading on sneaker groups on Facebook The Ultra Boost Yeezy as his first true immersion into sneaker culture How the sneaker industry is more accessible for women than typical asset classes Using consignment to build the business and making a decision to go into the sneaker business full-time in 2019 Finding a niche by dealing with high-end, high-volume resellers by managing the entire sales process Managing a limited supply problem by starting a sneaker fund overnight to provide more liquidity How the PUSHAS sneaker fund encompasses 6,000 pairs of sneakers and produced a 60% return The advantages of working full-time in the sneaker industry to spot trends Australia as a smaller sneaker market compared to other countries and the importance of a secondary market The advantages of the PUSHAS model of authenticating bulk sellers The prevalence of counterfeit sneakers and the importance of having a great eye and a system for spotting fakes PUSHAS expanding into the US with headquarters in Los Angeles Building the PUSHAS brand around community PUSHAS strategy to work with Stock X and GOAT rather than competing against them Sneakers as a stable alternative asset class --- Follow Alts - Website & newsletter: https://alts.co - Discord: https://discord.gg/DEkHgzggwC - Twitter: https://twitter.com/altassetsclub - Insta: https://instagram.com/alts_co - TikTok: https://www.tiktok.com/@alts_co - Youtube: https://www.youtube.com/channel/UCpmgk4gzQ56QvpyegBJJVQA?sub_confirmation=1