Nike exec has resigned after ties to son's sneaker business revealed

[TaylorSwift 162,502]

Ann Hebert, the sportswear giant’s vice president and general manager for North America, left her job after more than 25 years at Nike.

Her departure came four days after a Bloomberg Businessweek report detailed how her 19-year-old son, Joe Hebert, made hefty profits by buying coveted sneakers from Nike and other companies and reselling them on websites like StockX.

Her son got his start by flipping Supreme T-shirts in high school and went on to launch a company called West Coast Streetwear, which raked in as much as $600,000 in sales in a single month last year.

The teen also apparently had a little help from his mom — at least one of West Coast Streetwear’s American Express credit cards was set up in Ann Hebert’s name. The card was then used to buy limited-edition sneakers that he could resell at a higher price.

source

 

 

[TSUNAMI 21,297]

2020's: Revelations

[vyniildisk 12,689]

i imagine the dad must be very mad at the son

[Guest]

Yikes

[Bottom 1,842]

Why is this surprising, it is all down to connections and who you know. 

[bloody g 31,746]

capitalism is such a joke

[bionic 50,111]

This is the reality behind 99% of 'new' businesses. 

[Guest]

This is literally how stores make a profit. Why did this cause her to quit her job?

[Defmix100 7,073]

12 minutes ago, Agunimon said:

This is literally how stores make a profit. Why did this cause her to quit her job?

I'm assuming because she was getting him limited-edition sneakers and selling stock from nike

[weed 78,977]

I wonder if the son will be labeled “Self Made” when he’s super rich 

probably already has been w West Coast w/e

[weed 78,977]

look how many shoes he would get omg

 

[berlinforme 5,385]

22 minutes ago, weed said:

look how many shoes he would get omg

 

He must have been a very fast shopper getting all those limited sneakers! Surely no help from mommy! 

[Rebel 5,221]

He was so shameless about it wtf look what you did to mommy

[tylerjs 6,093]

48 minutes ago, berlinforme said:

He must have been a very fast shopper getting all those limited sneakers! Surely no help from mommy! 

This, but also people like this in the resale business use bots to bombard online shops as soon as they open and they’ll have them buy TONS of sneakers in seconds, so actual humans waiting for limited edition drops can never purchase pretty much. I know someone who did this with the new Playstations. They bought like 1,000 of them or something with bots, which only took a few seconds, and then flipped them for insane profits.