Costco's surprise Nike collaboration sends sneaker resale market into complete frenzy

Costco quietly dropped a new, exclusive Nike collaboration sneaker on Friday in a surprising move that sent both customers and the resale market into a frenzy.  

The Nike SB Dunk Low x Kirkland Signature Exclusive was released in select locations, Nike told FOX Business on Sunday. According to Women’s Wear Daily, the item was dropped in New York, Oregon, California and Washington for $134.99.

In just three days, the resale markup of the product skyrocketed to approximately 200% or more, with prices ranging from roughly $400 to $1,000 on third-party sites including StockX, eBay and GOAT.  

The sneakers appear to be inspired by Kirkland’s signature sweatshirts, which are known for featuring the retailer’s in-house branding in black, gray and white selections.  

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The sneakers, adorned with several Kirkland emblems, come in a gray colorway with an exterior that resembles sweatshirt material and an inner lining that mimics the pilled texture a sweater develops after repeated wear. 

Kirkland’s logo appears on both the lateral heel and the inner tongue, with the tongue tag reading "Nike Skateboarding Dunk Low Pro." 

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On the reverse side of the tongue is a label that mimics the white price tag sheets the retailer uses in-store, reading "Kirkland Signature Skateboarding Shore" for $135.00. 

While the sneaker retails for $134.99, Costco is known for embedding subtle meanings in its pricing. The ".99" in $134.99 typically denotes a regular-priced item, whereas the ".00" in $135.00 could indicate that the product is low in stock.

The shoe also comes with a removable hang tag designed to resemble a Costco Executive Membership card.

Additionally, the insole features a large Kirkland logo, while the reverse side showcases an image of Costco’s famous, affordable hot dogs, complete with a price tag of $1.50. 

On the StockX platform alone, 660 pairs of the shoes were resold over the weekend, with the highest sale reaching $600.

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The sudden release comes after last year’s leak of the collaboration, which provided only limited details and left fans speculating about the design, pricing and overall concept.