Sneaker Culture Gets Collaborative

Sneaker culture has exploded in recent years. While the reasons why can be attributed to several things (the COVID-19 pandemic lead consumers toward comfort when shopping, the rising prominence of Black culture in mainstream fashion, among others) the end result is the same: an uptick in interest in sneaker culture. According to NPD, year-over-year Q4 revenue grew for athletic shoes (running shoes and other shoes intended for physical activities), and sales also saw an increase as well. Nike sold nine of the top ten athletic sneakers (sneakers intended for leisure) in 2021. For footwear sales overall, sales hit $100 billion, according to a report by Footwear Distributors and Retailers of America in Footwear News. 

Sneakers are big business. In February, Authentic Brands Group announced a new and enhanced partnership with Foot Locker for the Reebok brand within the U.S. Through this agreement, Foot Locker and its brands will deepen their assortment with Reebok and will exclusively carry select Reebok footwear models for men, women and kids in its company-owned stores and complementary e-commerce websites in the U.S. This includes basketball footwear and collections including styles from basketball players Allen Iverson and Shaquille O'Neal in the U.S. Foot Locker will work with Reebok Design Group, the global brand hub for design, development and innovation, and the supplier of core product categories. Foot Locker anticipates the rollout of an expanded Reebok assortment across its various banners to begin in the fall. 

Check out the full article in the latest issue of License Global, out now!