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Before many had filed chargebacks or PayPal claims, customers of Zadeh Kicks who were missing orders were asking how and when the inventory that belonged to the now defunct sneaker business.
It was no secret to its buyers that Zadeh Kicks had a large warehouse filled with highly-coveted sneakers. Michael Malekzadeh, the former owner of Zadeh Kicks, would regularly post photos and live videos from within the warehouse where viewers could see rows of stacks of shoes extend deep in the space.
What few knew however was that Zadeh Kicks’ inventory was so deep that the primary warehouse at 710 Commercial St in Eugene, OR was not large enough to hold it all under one roof. Just a couple of miles away, and safely situated between a Eugene Police Substation and a set of railroad tracks is a second warehouse that housed inventory of the sneaker reselling business.
David Stapleton, the court appointed receiver handling the dissolution of the Zadeh Kicks business, provided updates to the Oregon Court that included notes over the past two months of conference calls and strategy meetings handling the sale of the 59,840 pair inventory of Zadeh Kicks and Michael Malekzadeh’s personal sneaker collection that is over 1,100 pairs.
Malekzadeh has been cooperative with the receiver through the process offering advice and contributing insight into how to sell the shoes to achieve the highest possible amount.
As early as June 5th conversations were logged between Malekzadeh and the receiver about the task ahead. The following day on June 6th, sneaker reselling platform GOAT was discussed and two days after that on June 8th StockX was used as a tool to match the price of the shoes taken from Malekzadeh’s personal collection.
Over the course of a couple of weeks the receiver logged numerous entries of work that involved checking and comparing the prices of shoes to GOAT and StockX ahead of a meeting on July 11th where a sale strategy meeting was had for GOAT and StockX.
By mid-July the receiver setup accounts for both GOAT and StockX and for the sake of accounting money obtained from the business inventory and personal inventory, separate bank accounts were established for each source of shoes.
Over the course of two months of logged work by the receiver, GOAT and StockX were the only sneaker platforms mentioned and besides one note of discussing the sale of inventory to one of the creditors, Charles J Schmidt III aka Schmidty Kicks, it appears as though no bulk buyers considered for the inventory.
We contacted David Stapleton and his attorney for comment, but have not heard back from either at time of this publication.
