He noted 25 potential “high heat” sneaker launches this month, up from 20 a year ago. But three of the five Jordan launches that have been released are “trading at discounts in the resale market.” “Though they represent just a portion of the industry, when the industry is performing well, we usually see a large number of ‘high heat’ sneaker launches,” he noted. Six of these “high” heat kicks were from Nike, and one from Vans, which was its much talked about Old Skool Souvenir in multiple colorways. “With a lack of meaningful innovation and ‘buzz’ in the sneakerhead market, coupled with less-than-ideal macro conditions, it seems clear to us that the sneaker market is challenged at the moment,” the analyst concluded.