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Good morning, buddies! Happy Friday! Welcome again to the Kicks You Wear. Thanks a lot for studying the e-newsletter at present. Appreciate a little bit of your time.
Here’s to an superior weekend. Hope you’ve acquired some nice plans forward. After a few busy weekends in a row for me, I’m hoping this one can be a bit extra chill.
HOUSEKEEPING: The homie Priya Rao has a new e-newsletter! Go subscribe to Full Coverage, our briefing on the sweetness enterprise. In her first ship, Priya chats with two high-level Sephora executives on their 16 (!!!!!!) new magnificence line launches for the autumn. Fun stuff! Check it out and subscribe right here should you haven’t already.
With that out of the best way, let’s get to enterprise.
A Family Reunion?
You comprehend it’s a bizarre week within the footwear trade when persons are legitimately discussing the potential of Adidas and Puma being a factor once more.
What occurred: Puma’s inventory jumped by as a lot as 20 % this week following hypothesis that the corporate may merge with Adidas. If you’re considering that this all sounds a bit too good to be true, you’re most likely proper.
It all stems from an interview with a Puma investor.
- Roy Adams, the co-founder of funding agency Metronuclear, spoke to German enterprise paper Handelsblatt about Puma final week.
- Adams mentioned the model is in a “state of emergency” and that a “merger with Adidas is the best option” if administration can’t flip issues round.
I reached out to each Puma and Adams for additional particulars and clarification in regards to the former’s feedback. Puma declined to remark and Adams didn’t reply to a request for an interview.
Without any additional remark from Puma, it’s arduous to see Adams’ feedback as something greater than conjecture. But, contemplating the model’s present standing, you possibly can’t assist however go away house to suppose that possibly there’s one thing to it.
Where issues stand: Puma has had some current wins, however the model’s short-term outlook isn’t nice. There was discuss of the Pinault household promoting its 29 % stake within the model in August. They’ve backed away from that since then, however the potential for it to occur additional down the road continues to be there.
Surely, there’d be loads of potential consumers for the model. I’m simply personally uncertain that Adidas can be one in all them.
Be good: This isn’t a small model we’re speaking about, of us. Puma isn’t Nike or Adidas, but it surely’s nonetheless one of many largest footwear sportswear firms on this planet. Its market cap at present sits at $3.4 billion. We’re speaking no less than that, plus issues like buyouts and money owed.
Could Adidas get it executed? Maybe. The model is in a financially stable place lately. Does that imply it’d wish to purchase one in all its greatest opponents? Recent historical past tells us not essentially.
- Adidas not too long ago offered Reebok in 2022 after struggling to show the corporate round following its downturn, which was sparked by the COVID-19 pandemic.
The different aspect: Reebok and Puma aren’t the identical. Puma can be a extra worthwhile asset. While it isn’t rising as the corporate would really like, it stays a worthwhile model. And contemplating the historical past between Puma, Adidas and the Dassler household feudit’d actually be fascinating to see the meat get squashed right here.
Yes, however: I don’t suppose I’d maintain my breath on this one.
Thoughts on ALD x TNF
The North Face’s latest assortment with Aimé Leon Dore is without doubt one of the most anticipated collabs within the streetwear house of 2025.
The Business of Fashion’s Lei Takanashi acquired to take a have a look at the gathering for the primary time forward of its public launch. He was form sufficient to share his ideas with us for the e-newsletter. You can learn them under.
The North Face has launched an innumerable quantity of collaborations with everybody from Gucci to KAWS since releasing its first vogue collaborations in 2007.
But what makes TNF collaborations with New York-based manufacturers like Aimé Leon Dore so particular is the outside model’s natural reference to streetwear shoppers within the Big Apple that goes again for many years.
Long earlier than becoming a member of BoF, I’ve reported on these lovers and the TNF merchandise that resonated with them probably the most. I received’t dive too deep into this lore since I’ve penned sufficient long-reads on why New Yorkers are obsessive about outerwear such because the Mountain Jacket. But what I’ll share is that TNF’s first collaboration with Aimé Leon Dore can actually go toe-to-toe towards the 40+ seasonal collabs TNF launched with its most important New York City model accomplice earlier than ALD — Supreme.
Similar to the New York City streetwear titan that was offered by TNF’s proprietor, VF Corp., to EssilorLuxottica final yr, ALD makes for a nice model accomplice as a result of they’ve this nuanced understanding of the outside label’s subcultural life-style buyer. You know, that man who wears a Nuptse puffer with Timbs as a result of ‘90s New York rappers like Nas or Big L are their biggest style muses.
And that “IYKYK” lever that’s pulled for TNF’s finest collabs is rife all through the advertising and product in ALD x TNF’s first collaboration. A teaser advert they dropped for the collaboration this week options a cameo by Scot Schmidt, the pioneering freeskier who created the favored Steep Tech skiwear line that was embraced by ‘90s New York graffiti writers. Likewise, a color palette true to that era covers key items such as a Nuptse jacket crafted out of Casentino wool and the first-ever all-nylon Denali.
When feeling both of these pieces at a press preview, I felt and resonated with the luxurious proposition being offered. It felt like a piece a true TNF-head and luxury consumer would consider buying. However, with everyone tightening their wallets these days, shelling out $395-$795 without tax for a Denali or Nuptse feels like a tough sell—especially when younger customers are likely buying vintage ones anyway.
Gymshark’s Dive Into Footwear
In information that I’ll admit shocked me a bit, Gymshark appears to have efficiently jumped into footwear with its newest collaboration.
The information: The British health model partnered with efficiency footwear model R.A.D. to launch two new kinds — the R.A.D One V2 and the R-1.
- The sneakers are available in these muted Gymshark shade palettes that we’re used to.
- The footwear assortment launched final week, retailing at $140, with each an early entry sale and a normal launch.
- The early entry sale offered out in 40 minutes, a Gymshark spokesperson mentioned. The extensive launch was offered out inside an hour.
Generally, I don’t suppose an excessive amount of about how lengthy it takes a product to promote by. Especially not with collaborations like this one.
- Companies can manufacture their very own sellouts by shortening provide after hyping up demand for a product amongst area of interest shoppers.
Yes, however: Gymshark is a firm that has centered itself round efficiency attire — not footwear. Its greatest drivers are its health club necessities like sports activities bras, tees, shorts and extra. For a footwear launch to promote by for the corporate is a bit uncommon, even when the product is likely to be briefly provide.
The massive image: It’s a good time to get into efficiency footwear. Footwear gross sales declined within the first half of 2025 within the U.S. footwear trade, in response to retail monitoring information from Circana, however efficiency working and cross-training footwear noticed gross sales enhance by seven % and 9 %, respectively.
There is a greater alternative right here for deeper enlargement within the class for Gymshark if it desires to take it.
Angel Reese Works
If there have been ever any questions on whether or not WNBA star Angel Reese might promote a shoe, they’ve been answered.
The newest: Reese’s signature Angel Reese 1 with Reebok was launched publicly for the primary time on Thursday.
- The shoe dropped in three completely different colorways — Mebounds (pink), Diamond Dust (white), and Receipts Ready (black and white).
- Each pair offered at retail for $120.
What occurred: The pairs offered out fully. They’re not even accessible on Reebok’s website anymore. There had been solely a handful of sizes left after about half-hour following the net launch.
Why this issues: When was the final time we noticed individuals this keen about a Reebok sneaker? This doesn’t occur. It hasn’t in years. And that is a basketball sneaker we’re speaking about.
No matter what manner you narrow it, that is spectacular. People have reputable questions on Reebok and what the model’s future appears like below the Authentic playbook. But it appears clear the model has discovered one thing that works extraordinarily properly in Angel Reese.
Can’t wait to see how this will get constructed out down the road.
#TheKicksWeWear
This is the group part of the e-newsletter the place you (Yes, you!!!!) ship me your most closely fits and kicks from the week. Feel free to ship submissions to michael.sykes@businessoffashion.com or shoot me a message by way of social channels @MikeDSykes
LET’S GET IT POPPIN, GANG.
First, the homie Mark acquired us popping with these AJ1s. Gotta defend these ankles lol.
The homie Storm got here by with all the warmth. Two pairs of Book 1s and the Salehe New Balance 1000s. I feel I’m being influenced, guys.
The homie Andrew popped out with these unimaginable Salomon joints. Fire.
Then my man Rick Dubb took us dwelling with these INCREDIBLE photographs of the brand new Salehe joints. I actually might need to get me a pair of those, man.
Great stuff, guys. Great stuff.
Thanks for studying, gang! Hope you loved at present’s ship. Have a nice weekend.
If you could have any questions, feedback or considerations, attain out to me by way of e-mail at michael.sykes@businessoffashion.com or shoot me a message @MikeDSykes by way of socials.
Peace and love. Be protected, be simple, be form. We out.
-Sykes 💯