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As time moves forward so too does the sneaker industry and the business practices utilized to sell sneakers as seen with the recent push from major brands for direct-to-consumer sales. While better for labels like Nike and adidas, those that have operated as retailers for these brands have taken massive hits with more customers choosing to purchase online, retailers getting loaded up with products that aren’t selling, and a whittling allocation to said retailers. Just in the last year or so, we’ve seen staple sneaker retailers like Eastbay and Footaction close their doors due to shifting market conditions with another long-time storefront shuttering its doors - wellgosh.
The UK-based retailer has for over 35 years served as a premier destination for sneaker enthusiasts as it has hosted drops for some of the most coveted sneakers. To announce its closing, wellgosh’s social media accounts posted a message stating,
“It is with a heavy heart that we announce the closing down of Wellgosh. For over 35 years, Leicester has been the beating heart of our brand and we are grateful to our store teams and the dedicated community that we have created. Our website and stores will close shortly.”
Specifics behind the closure haven’t been disclosed but as discussed earlier it's likely that the shifting market practice of direct-to-consumer sales and recent economic downturn across the globe are to blame for the sudden closing. Those who have pending orders should expect to receive their items as the online store is still open as of this writing. Looking into the future, it’s possible this trend continues across the sneaker industry. Keep it locked to our Twitter and the Sole Retriever mobile app to stay updated on the latest happenings in the sneaker and streetwear world.
Image via wellgosh