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American Eagle is selling $50,000 sneakers

Looking to nab a pair of the olive Jordan 4s Kylie Jenner was seen wearing recently — the ones designed by rapper Travis Scott? Or the Nike Air Mags featured in “Back to the Future Part II”? Just grab a few stacks ($12.5K to $50K, respectively) and head to the new sneaker pop-up at the American Eagle (AEO) store at 599 Broadway in New York City.

The preppy clothing manufacturer recently teamed up with Urban Necessities, a Las Vegas–based sneaker consignment shop for a year-long collaboration. Sneakers in the collection range from $150 to $50,000. The walls of the store are lined with with other rare special edition sneakers, including the Nike Dunk SB Low Paris ($20,000), the line of DJ Khaled-designed Jordans (which go for about $10,000 each), the ($20,000) Drake-designed Jordan 11 retros; and the Jordan 8 Retro Kentucky Madness (selling for a modest $15,000, while other retailers have the shoe listed anywhere from $25,000- $40,000.)

Nike Air Mag — Urban Necessities

Urban Necessities was founded by Jaysse Lopez in 2014, well, out of necessity, after he lost his job. But not everyone was excited about Lopez going into the sneaker business, including his own mother.

“I had some family members that were supportive. Some family members — even my own mother the day that I opened Urban Necessities — told me go get a job. But my mom's my biggest fan right now; she collects sneakers too. It's kinda funny,” Lopez told Yahoo Finance.

Urban Necessities x AE Pop-Up — Urban Necessities

His first year in business he hit $1 million in sales; in 2018, the store surpassed the $20 million mark.

Lopez said that he chose to partner with American Eagle because he noticed a lot of his customers wear American Eagle clothing. He said that American Eagle is an American brand, and the success of his store represents that American Dream.

Even though sneakers are Urban Necessities’ bread and butter, Lopez says that it’s the experience that sets his store and its popup apart from other sneaker consignment shops.

“When you go into other stores, and I say this with no disrespect, but it's a very old, retail vibe. … Here it's more acknowledgment of you coming in, asking about where you're from, allowing you to see, touch, and feel because the shoes aren't wrapped. … We want you to touch and feel, so it's the experience,” Lopez said.

Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at @ReggieWade

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