We Asked Brendan Dunne About the Nike Air Max 95 '7-Eleven' Market Post-Lawsuit

[Sips half-Coke, half-Cherry Slurpee until brain freeze sets in, bites Taquito to bring body temp back to normal]

Wow, ok. Still hits. You know, 7-Eleven has quite a thing going. They’ve managed to outpace all of their convenience store counterparts by building a nearly impenetrable brand, fortified by beloved products you can only find at the iconic spot with the unmistakable orange, green, and red motif.

Nearly impenetrable.

Almost a year ago, we told you about an upcoming 2-pack of Air Max 95s that paid tribute to two of Japan’s most frequented konbini, or convenience stores. The Japanese hold their neighborhood markets like 7-Eleven and Lawson, the store referenced on the other AM95, in even higher regard than Americans, which is saying a lot.

Each shoe bore a clear resemblance to the brand colors of each chain, with the insoles featuring blurred photos of snack aisles, which is honestly the only way I remember seeing them when I used to visit more often. Slurpee first, then Peanut M&Ms, then Salt & Vinny Pringles, then back to the Slurpee station to replenish the sips I had taken whilst browsing said snack aisles, then the checkout, then wait a second lemme also get two Taquitos, oh and a pack of Dutches, then I’m out.

There was a decent amount of anticipation around the shoes, especially the 7-Eleven variant, but nothing crazy. I don’t think anyone was going to have them in their Sneaker of the Year conversation. Pre-release, they were selling for below retail on secondary markets like StockX. Not a great sign for community sentiment on a design.

But that’s not a reflection on 7-Eleven’s ability to generate demand for a sneaker or collab. We’ve seen the brand do extremely well in this space, from the time Joe Freshgoods made us all want to dress like 7-Eleven employees to their other Nike collab that was actually officially official… until it wasn’t. The 7-Eleven-branded Nike SB Dunks were supposed to drop in 2020 but got pushed because of the pandemmy before ultimately getting canceled, skyrocketing the value of pairs that had made their way to collectors already. A couple of years later, when Nike added Dunks to the NikeID Nike By You customization platform, astute sneakerheads quickly realized the 7-Eleven colors were an available option and made their own bootleg versions of the elusive collab.

So, you can imagine why Nike would think people were thirsty for another 7-Eleven colorway, especially on an iconic silhouette like the Big Bubble Air Max 95. But there was one difference this time around, and it’s a major one. Nobody at Nike apparently told the one-time homies at 7-Eleven, and as press began to pick up steam about the release in the months leading up to the drop, Slurpees were set aside and the suits were called into the situation.

Last week, we reported that 7-Eleven was suing Nike with regard to the shoe, demanding damages and for The Swoosh to cancel the release. It didn’t help Nike’s case that the sneaker was set to drop on – wait for it – July 11, aka 7/11 aka Slurpee Day aka the biggest day of the year for the massive convenience chain that their marketing department has circled on the calendar starting on July 12 the year before. Going to be tough for Nike to dispute claims that this was a 7-Eleven-themed sneaker.

After news of the lawsuit broke, the shoe magically disappeared from Nike’s release calendar, and retailers like Kith that had posted raffles for the shoe promptly canceled their scheduled drops. As you can imagine, this changed how the 7-Eleven Air Max 95 was perceived in the sneaker community, instantly going from a decently cool shoe that wasn’t going to be all that difficult to cop to a rare canceled shoe with scandalous lore that will turn heads and spark conversation when seen on foot. Secondary market prices shot up on the day the lawsuit news dropped and haven’t really slowed since.

I caught up with Brendan Dunne, the marvelously mustachioed face of StockX, to gain some insight into what this situation looked like from the marketplace’s perspective and learn how the news can affect price volatility of a shoe in real-time across a… full size run.

DREW LONDON: What do you think of the skyrocketing value of this 7-Eleven AM95 and how will things like the (since-canceled) Kith raffle affect the price going forward?

BRENDAN DUNNE: I was surprised that 7-Eleven filed suit against Nike over these Air Max 95s, but it’s not surprising at all that the shoe’s value has jumped as a result. It’s pretty common for us to see secondary market movement in episodes like this where it looks like a product might be more scarce or limited than originally anticipated.

Kith putting the shoes up for raffle and then pulling the raffle is a pretty good indication that someone from Nike decided the release was canceled. Usually signals like that are going to add to a sneaker’s mystique and, in turn, its resale price, which is what we’re seeing play out in the market now.

DL: What are some of your favorite 'canceled' sneakers that have found cult classic status on secondary markets like StockX once they weren't officially released.

BD: When I think of canceled sneaker releases my mind immediately goes to Nike SB stuff as they had so many cheeky pairs that really walked that fine line between homage and too on-the-nose. One of the wildest of these was the “Heaven’s Gate” SB Dunk just because the theme around it was so clearly taboo and not something a big sneaker brand would want to touch, but it got designed anyway only to disappear once word got out what the shoe was referencing.

DL: On Sneaker Twitter, we’re now seeing cases of people who copped upon hearing the lawsuit news and now the sellers are cancelling their orders and relisting for way more money. Does StockX have policies in place to combat this?

BD: StockX expects sellers to fulfill every sale they accept. Failing to ship a sold item — "flaking" — violates our Seller Policy, and we track seller flake rates closely. When a seller doesn't ship within the required timeframe, we take action that, depending on the circumstances, may include higher transaction fees or restricting or suspending their ability to sell. These steps protect buyers while keeping the playing field fair for sellers who deliver.

DL: What has the market looked like on your team’s side this week, as far as volatility?

BD: Looking at all sales through July 1st: The average price on StockX was $161, which is a price premium of -23% (or 23% below the retail price, which is $210).

Looking at sales on July 2nd through today (at 8:30 a.m. ET): The average price is $318, which is a 51% price premium.

If we break it down and look at hour-by-hour sales, we saw the single biggest surge during the 11 p.m. hour (ET) on July 2nd.

Average Prices By Day:

• Sales through 07-01: $161
• 07-02: $217
• 07-03: $328
• 07-04: $364
• 07-05: $392
• 07-06: $406
• 07-07: $407
• 07-08: $393
• 07-09: $432
• 07-10 (Today, but partial — through 8:30 a.m. ET): $439

DL: On a more serious note: you walk into 7-Eleven and can pick four items. What are you leaving with?

BD: Oh hell yeah. Slurpee, bag of trail mix, heat lamp glizzy, and a $5 scratch-off.

Check out the Nike Air Max 95 7-Eleven on StockX

Drew London

Drew oversees content at Sole Retriever and hates writing in the 3rd person soooo I'm going to stop. I've written for countless blogs and magazines, from Complex to XXL and everywhere in between. Spent a long time in LA, running content and working on branded collabs at The Hundreds. Now, I'm back home on the East Coast freezing my ass off. Email me at drew@soleretriever.com with scoops, story ideas, and size 13 heat.