Street power: "ugly" sneakers earn $ 1 billion to Balenciaga

Streetwear is more alive - and lucrative - than ever before. Balenciaga reports a $ 1 billion profit on controversial "ugly" sneakers.

Forget about it-bag for the moment. Who is in tune with the current fashion vibes, wants some pairs of specific sneakers.

Yes, streetwear is more alive and profitable than ever.

According to the Kering group, a company that owns brands such as Gucci. Triple S, better known as "dad sneaker" or "ugly" tennis, will yield 1 billion dollars for Balenciaga, which has become the most profitable label in the conglomerate.

About 60% of the model's consumers are millennials, including celebrities like Kendal Jenner, Bella Hadid, SZA and Hailey Baldiwn.

Sneakers cost 895 dollars.
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