Chanel and Pharrell debut exclusive sneaker

The world's most exclusive sneaker is here courtesy of Karl Lagerfeld, Pharrell Williams and Adidas Originals. The 1000 euros sneaker made its debut last night at Colette at a party celebrating Chanel's takeover of Colette. The sneakers are part of Pharrell's ongoing collaboraiton with Adidas.

The sneaker has arguably taken exclusivity to an entirely new level. There are only 500 pairs available, and 120,000 pre-registered to buy them. The resale value shot up to 32,000 dollars after the pre-registration period.

Pharrell's Chanel sneakers limited to only 500 pairs

“Officially, it’s the first time to my knowledge that the Chanel name has appeared on a product made by another brand, so it’s true that this makes it something very special,” said Sarah Andelman, creative director and purchasing manager at Colette to WWD.

500 people will be selected by a bailiff, and they will receive confirmation e-mails on how to purchase on Thursday. Williams has said he expects the resale value of the sneakers to go up to 40,000 dollars. Any merchandise affiliated with him is known to resell for multiple times its value. For example, his recent Adidas collaboration with N.E.R.D. is now going for up to 10,000 dollars.

This collaboration also has a philanthropic twist to it. Williams and Chanel plan on donating the profits to the Chanel Foundation, which aims to support women's empowerment throughout the world.

The collaboration is historic in that it is one of the last Colette will ever see. The famed department store is scheduled to close on December 20.

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