People are stepping out in sneakers costing thousands of dollars, here's why

What do you get when sneakers make the cross into high fashion? Luxury designs that come with a pretty hefty price tag. Photo: Dior

Luxury sneakers are dominating the fashion market. Dior's recent release of the limited edition Air Jordan 1 OG​ certainly ​​​proved as much.

It was launched online on June 25, with only 8,000 of both the high and low top models available for sale. The price? Upwards of US$2,000 (RM8,480).

The chairman and CEO of Christian Dior Couture, Pietro Beccari, later told Women’s Wear Daily that 5 million people signed up to pre-reserve the sneakers.

They are now reportedly selling for more than US$20,000 (RM84,800) on resale sites. Such is the crazy demand for luxury sneakers.

Read more: Streetwear is now fashion's new luxury, and Malaysia isn't left out of the scene

Once upon a time, sneakers were banished from high-end, dressier events. They were previously deemed as unrefined. Not anymore.

You can spot them on numerous runways. Chanel, Prada, Valentino, Burberry, Gucci and many more fashion houses are selling sneakers of their own.

Sneakers are not just something worn to the gym anymore. They are as fashionable as heels, and have made great strides on the red carpet too.

Millie Bobby Brown (of Stranger Things fame) wore a pair of white Converse with her Calvin Klein dress at the 2018 Screen Actors Guild Awards.

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At the 2019 Met Gala, Serena Williams paired her Versace gown with Off-White x Nike Air Force Ones.

Billie Eilish was dressed head-to-toe in Gucci at the LACMA Art + Film Gala, which included the fashion house's jewel-encrusted velvet sneakers.

Read more: Fashion in pictures: The intersection of streetwear and luxury

Christie's, the British auction house dealing with the finest art, antiques, jewellery and watches, is now expecting to set a new record for a sports shoe.

Eleven pairs of Nike sneakers worn by NBA legend Michael Jordan are up for auction. The star is the Air Jordan 1 High that the NBA megastar wore during a 1985 exhibition match in Italy.

The red, white and black Air Jordan 1 High sneakers are expected to fetch a high price in the ongoing auction. Photo: AFP

Signed by Jordan, it has a piece of glass still lodged in the left sole. Jordan dunked the ball so hard during the match, it smashed the glass backboard into thousands of pieces.

It is estimated to sell for between US$650,000 (RM2.8 million) and US$850,000 (RM3.6 million).

Yes, this happens to be a price tag for a collector's item, but it does send out a message that sneakers are not just sneakers anymore.