Business – Footwear News https://footwearnews.com Shoe News and Fashion Trends Mon, 23 Dec 2024 22:10:45 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://footwearnews.com/wp-content/uploads/2023/05/cropped-FN-Favicon-2023-05-31.png?w=32 Business – Footwear News https://footwearnews.com 32 32 178921128 The Authors of ‘Sneaker Law V2’ Break Down Why It’s the ‘Greatest Sneaker Book of All Time’ https://footwearnews.com/business/business-news/sneaker-law-v2-book-author-interview-1234746211/ Mon, 23 Dec 2024 22:10:43 +0000 https://footwearnews.com/?p=1234746211 You have to be confident to call your latest work the “greatest sneaker book of all time.” But that is what authors Kenneth Anand and Jared Goldstein believe they created with “Sneaker Law V2.”

After releasing “Sneaker Law V1” in September 2020, the legal expert duo returned four years later with “Sneaker Law V2.” These books, which are widely regarded as go-to resources for both current and prospective industry professionals, are available now wherever books are sold.

“Sneaker Law V2” released on Sept. 10 and retails for $150.

Aside from being authors and sneaker aficionados, the resume’s of both Anand and Goldstein should offer any reader confidence that they are trusted legal sources.

Goldstein, for instance, is an adjunct professor at several law schools, including the University of Miami and Georgia State University, in addition to his role as a guest lecturer at Harvard and the Parsons School of Design.

As for Anand, he currently is the director of client relations at Jayaram Law, and formerly was the general counsel at Yeezy. And like Goldstein, Anand is also a guest lecturer at Harvard and the Parsons School of Design, as well as an adjunct professor at the University of Miami and Georgia State University.

Here, Anand and Goldstein offer insights into the making of “Sneaker Law V2” with FN and takeaways since its release.

On What They Learned Writing ‘Sneaker Law V2’

Kenneth Anand: “Writing Sneaker Law V2 was a reflection of how much the sneaker industry has evolved since our first book released in 2021. We learned the importance of staying agile and responsive to new trends, from sustainability and the rise of direct-to-consumer brands to legal challenges like intellectual property battles and emerging tech like NFTs and the metaverse. It pushed us to dig deeper into the intersections of law, business and culture to ensure the book remained not only relevant but a step ahead.”

On How They Improved From V1 to V2

Jared Goldstein: “‘Sneaker Law V1’ was like our debut mixtape or album. As groundbreaking and successful Sneaker Law V1 was, we knew that our best work was ahead of us. With V1, there were areas that we wanted to dive in deeper on and content we realized we were missing. When writing ‘Sneaker Law V2,’ we left no stone unturned. We hit you from every possible angle and created an all-encompassing encyclopedia for the sneaker business. V2 is twice the size of V1. It’s a beast.”

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The duo released “Sneaker Law V1” in September 2020 and then “Sneaker Law V2” four years later.Courtesy of Sneaker Law

On the Talents They Uncovered Writing ‘Sneaker Law V2’ That They Didn’t Realize They Had

JG: “Sneaker Law is independently published. We decided early on that we wanted complete ownership of our business and books. It would be hypocritical to teach about entrepreneurship while handing our books off to a publisher and letting them handle everything. As a result, outside of writing the book, we had to select and clear all of the images (there are over 1,000 images in V2), design the cover and interior, find and work with an editor, source a manufacturer, handle marketing and distribution, interface with wholesalers and retailers and much more. Kenenth and I can now write a book about what it takes to publish a book.”

On What They Would Like to Accomplish After Seeing the Success of ‘Sneaker Law V2’

KA: “The overwhelming success of ‘Sneaker Law V2’ has reaffirmed our belief that there’s a real demand for accessible legal and business education tailored to creatives and entrepreneurs. We hope this book inspires educators to integrate unconventional topics like ours into their curriculums, breaking the mold of traditional education. Beyond that, we want to continue empowering individuals — whether it’s through universities, high schools, or community programs — to turn their passions into sustainable careers. Expanding our reach to underserved communities and introducing this knowledge to a broader audience is also a key priority. We’ve got some exciting initiatives in the works that are focused on reaching the students that can’t get into Harvard, Yale, Parsons or anywhere else Sneaker Law has been taught.”

On the Support They Have Received

JG: “The support we’ve received has been incredible. From entrepreneurs starting their own businesses who used Sneaker Law as their guide to seasoned and jaded lawyers getting inspired that they can have fun in their profession again to sneakerheads raving about the book, Sneaker Law has impacted so many people. This was on full display during our ‘Sneaker Law V2’ launch party. Friends, family and supporters came out in droves to celebrate V2. We had law school professors mixing and mingling with superstars like Kid Cudi. Where else can you find that? And that’s really the essence of Sneaker Law. We are converging different cultures and disciplines through one common bond — sneakers.”

On Why People Should Buy ‘Sneaker Law V2’

KA: “It’s simply the greatest sneaker book of all time. Never has there been one book that contains this wealth of knowledge and information, all presented in a relatable and visually engaging way. Beyond sneakers, reading this book is like getting a mini law and business degree; there’s so many gems in there for the aspiring entrepreneur, designer, lawyer, or general enthusiast. We could have easily doubled the price of this book like most legal textbooks, but we’ve done everything we can to keep the cost down while delivering a premium product. We’re really proud of V2 and we know our readers are benefiting from the work we put into it.”

About the Author

Peter Verry is the Senior News and Features Editor for Athletic and Outdoor at Footwear News. He oversees coverage of the two fast-paced and ultracompetitive markets, which includes conducting in-depth interviews with industry leaders and writing stories on sneakers and outdoor shoes. He is a lifelong sneaker addict (and shares his newest purchases via @peterverry on Instagram) and spends most of his free time on a trail. He holds an M.A. in journalism from Hofstra University and can be reached at peter.verry@footwearnews.com.

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The 11 Biggest Footwear CEO Changes in 2024 https://footwearnews.com/business/business-news/biggest-ceo-shifts-footwear-2024-end-of-year-review-1234744196/ Mon, 23 Dec 2024 13:30:00 +0000 https://footwearnews.com/?p=1234744196 It was a big year for changes at the top of the footwear industry.

According to executive outplacement firm Challenger, Grey & Christmas Inc., 1,824 CEOs left their posts in the first 10 months of 2024 — a 19 percent increase from the same time period in 2023 and the highest total for that time frame since the company started tracking exits in 2002.

Within footwear and retail, CEO departures abounded for a variety of reasons. In some cases, executives moved on to new opportunities. In others, boards decided to bring on a new face to help facilitate change at a faster pace.

Below are some of the biggest CEO changes in footwear that occurred this year.

Nike

Elliott Hill, a company veteran of 32 years, succeeded John Donahoe as the CEO of Nike in October.

The executive shift followed a wave of analyst and investor scrutiny directed at Donahoe and the downward direction of Nike’s recent performance. Throughout 2024, Nike continued to lose share in crucial categories like running and had been criticized for its lack of innovative products. In December, Nike announced a new round of layoffs — which have been taking effect this year — in tandem with a plan to cut costs improve its innovation pipeline.

Hill served in several leadership roles at the Swoosh before retiring in 2020. His latest appointment announcement was met with praise from employees and The Street, though analysts cautioned that it could take several quarters for him to fix the company’s longstanding issues. Since he rejoined Nike, Hill has focused his efforts on reinvigorating the wholesale channel as well as improving innovation and company culture.

Under Armour

In March, Stephanie Linnartz stepped down from her role as president, chief executive officer and a member of the board at Under Armour, effective April 1. She was replaced by Kevin Plank, the brand’s founder and former CEO.

During her nearly one-year tenure at Under Armour, Linnartz made several changes to the brand’s internal team, including the hiring of Yassine Saidi as chief product officer and Kara Trent president of the Americas. She also appointed Jim Dausch as chief customer officer, Shawn Curran as chief supply chain officer, John Varvatos as head of design and Amanda Miller as chief communications officer.

Linnartz also spearheaded a strategy she called Protect This House 3, which was designed to raise awareness of the Under Armour brand, deliver elevated designs and products to boost U.S. sales and maintain the company’s momentum overseas.

Deckers Brands

After taking Deckers Brands to new heights as president and chief executive officer, Dave Powers announced in February that he would step down from his post in August. Stefano Caroti, the company’s chief commercial officer, took over for Powers upon his retirement.

Powers joined Deckers as president of direct-to-consumer in August 2012. He was then appointed president of omni-channel in January 2014, later becoming the company’s president in March 2015. He took over as CEO in June 2016. Dave Powers was inducted into the Hall of Fame at the 38th annual FN Achievement Awards in December.

Allbirds

Allbirds co-founder and chief executive officer Joey Zwillinger stepped down from the role in March and remained with the company as a member of the board of directors and special advisor. The company elevated chief operating officer Joe Vernachio to the CEO role and added him to the board of directors

The CEO transition came at a crucial time for Allbirds, when it was one year into its business turnaround plan it outlined in March 2023. This strategy focused on revamping product, optimizing U.S. distribution and store profitability, re-evaluating its international strategy and improving cost savings.

Brooks

Jim Weber, the longtime CEO of Brooks, stepped down from the role in March after 23 years. Under his leadership, Brooks transformed from a company that was close to bankruptcy — which he addressed in his book, “Running With Purpose: How Brooks Outpaced Goliath Competitors to Lead the Pack” — into a billion-dollar brand. Brooks president and chief operating officer Dan Sheridan replaced Weber in April.

In October, the Seattle-based performance running brand reported that it surpassed $1 billion in global revenue year to date through September, marking the first time the company has hit the major milestone prior to the start of its fourth quarter.

Toms

Toms chief executive officer Magnus Wedhammar announced in October that he had accepted a new role as CEO of Moovlab, a company that makes technology for “active seating” to improve the lives of people while they are sitting.

Wedhammar joined Toms in 2020 shortly after founder Blake Mycoskie and private equity firm Bain Capital ceded control of the brand to a group of creditors to provide debt relief to the shoe company, which had been dogged by negative credit ratings and bankruptcy rumors. Wedhammar helped the brand execute a turnaround which, in part, included pivoting away from relying too much on the Alpargata.

Allbirds’ former chief transformation officer Jared Fix joined as Toms’ CEO in July.

StockX

Scott Cutler, who held the chief executive officer role at StockX for more than five years, announced in November that he would step down from the post at the end of the year. He will be replaced by Greg Schwartz, the co-founder, president and chief operating officer of StockX.

During Cutler’s time at StockX, the marketplace experienced rapid growth and it focused on category expansion, the entry into new markets and growing its ever-expanding consumer base into the millions. Cutler also managed the company through the pandemic, and amid several macroeconomic challenges over the past five years, oversaw several restructurings. At the start of 2024, StockX underwent a round of layoffs that impacted dozens of employees.

Boot Barn

Boot Barn president and chief executive officer Jim Conroy stepped down in late November to become CEO of Ross Stores, effective Feb. 2, 2025. He served as president and CEO of Boot Barn since 2012.

In his place, John Hazen, the company’s chief digital officer, assumed the role of interim CEO.

Despite the change in leadership, Wall Street was still optimistic about the chain’s long term trajectory. William Blair analyst Dylan Carden said in an October note to investors that “the company is in a good position here following a decisive inflection and proven traction in new markets for a successor to execute against the remaining 500-store opportunity.”

Dr. Martens

Following a turbulent tenure packed with profit warnings, and a decline in sales in the U.S., its largest market, Kenny Wilson stepped down as chief executive officer of Dr. Martens plc. The footwear company said it named Ije Nwokorie, currently chief brand officer, to succeed Wilson. Both executives will work together until Wilson steps down at the end of the financial year.

Rothy’s

Rothy’s in January tapped retail veteran Jenny Ming as chief executive officer. With this change, Rothy’s cofounder Stephen Hawthornthwaite stepped down from his role as CEO but remained on as a chairman of the board, advising on key strategies.

Ming, who has been on the Rothy’s board since 2022, built her reputation at Gap Inc., which she joined in 1986 and where she held various executive roles, most notably as cofounder (along with Mickey Drexler) and president of Old Navy from 1993 through 2006. She was instrumental in the impressive national rollout of Old Navy in the U.S. and Canada. Ming later served as president and CEO of Charlotte Russe from 2010 to 2019. She currently serves on the boards of Levi Strauss & Co., Kendra Scott, and Kaiser Foundation Health Plan & Hospitals.

Clarks

Clarks chief executive officer Jonathan Ram left the company in April after two years at the helm. When contacted by FN, a Clarks spokesperson said that Ram made the decision to leave the company to “pursue other opportunities.”

Ram joined Clarks in April 2022 after serving as the group president for global activewear at Hanesbrands Inc. Prior to that, he spent 16 years in various roles at New Balance, culminating in serving as executive vice president of North America.

At the time of his appointment, Ram was the fourth person to take on the top executive role at Clarks in the last four years, excluding interim leaders in the position.

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Inside A Ma Maniére’s ‘While You Were Sleeping’ Premiere [PHOTOS] https://footwearnews.com/gallery/a-ma-manieres-while-you-were-sleeping-premiere-photos/ Fri, 20 Dec 2024 22:34:04 +0000 https://footwearnews.com/?post_type=pmc-gallery&p=1234745120 A Ma Maniére’s new film “While You Were Sleeping” premiered in New York City at the Apollo Theater on Dec. 18, following its debut in London at The Ritzy in Brixton on Dec. 12.

The film was directed by Julien and Justen Turner, aka the Turner Brothers, who have collaborated in the past with A Ma Maniére’s parent company The Whitaker Group. A myriad of prominent figures from the fashion industry are featured in the film, including Angelo Baque, Hebru Brantley and Nina Chanel Abney, to name a few.

Part of the celebrations honoring 10 years of A Ma Maniére, a description of the film reads, “At the heart of the story is the Creative Resource Agency (CRA), an entity that plays a central role in the plot tying all the characters together: the CRA is the agency that was created to actualize the concept of a ‘Black Tax’ on minority creatives around the world, targeting those who are leading the creation of culture that influences society, including the movie’s characters.”

After its stop at the historic Apollo, “While You Were Sleeping” is heading to The Gathering Spot in Atlanta, Vintage Park in Houston and the Eaton Hotel in Washington, D.C. Additionally, screenings will be held at Cinelounge in Los Angeles from Dec. 18-25.

Ahead of the film’s release, A Ma Maniére also collaborated with Nike, Jordan Brand and Converse on a special collection commemorating its 10-year milestone.

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Salomon and Ultramarathon Legend Courtney Dauwalter Renew Relationship Until 2029 https://footwearnews.com/business/business-news/salomon-courtney-dauwalter-renew-relationship-2029-1234745290/ Fri, 20 Dec 2024 15:26:22 +0000 https://footwearnews.com/?p=1234745290 Salomon and ultramarathon legend Courtney Dauwalter have renewed their relationship.

The brand announced that the relationship with Dauwalter, who has been sponsored by Salomon since 2017, has been renewed for an additional 5 years, until 2029.

What’s more, Salomon stated Dauwalter will continue racing “until she feels that she has reached the end of her competitive career” and will then transition to a new role as a full-time employee “focused on athlete mentoring, product development and marketing.”

“In 2017, the Salomon U.S. team took a chance on me and added me as an ambassador. They sent a box with some pairs of shoes and a few running outfits. They told me they believed in me and had no problem when I asked for my shorts to come from the men’s line. I was over the moon,” Dauwalter said in a statement. “Walking down memory lane, that same year I ran the Moab 240. Who knew it would be the start of such a special relationship.”

She continued, “I’m so thankful that what we started seven years ago is still rolling and growing. Excited to continue this party, stay tuned for some cool stuff we’re working on together.”

Dauwalter is quite accomplished in her legendary career, including becoming the first runner ever, male or female, to win the Western States, Hardrock and UTMB in a single season in 2023. She also holds the women’s course records for the Hardrock 100, Mount Fuji 100 and the Western States 100.

Salomon confirmed Dauwalter in 2025 will compete in three races: Cocodona 250 (May), Lavaredo 120K (June) and UTMB (August).

Also in 2025, Salomon confirmed it will release a new “Shortney” collection, which the brand and Dauwalter began in 2022, which will include a limited-edition S/Lab Genesis shoe.

“She is a constant source of inspiration to our product and marketing teams, contributing to unique apparel and footwear collaborations. She is also a role model to our running athletes who look up to her for her achievements, amazing mindset of perseverance and her kindness,” Salomon global chief brand officer Scott Mellin said in a statement. “We are delighted to continue working with her in the future and thrilled to see what more she can bring to Salomon, and in turn how she develops in the next phase of life as a professional within Salomon.”

About the Author

Peter Verry is the Senior News and Features Editor for Athletic and Outdoor at Footwear News. He oversees coverage of the two fast-paced and ultracompetitive markets, which includes conducting in-depth interviews with industry leaders and writing stories on sneakers and outdoor shoes. He is a lifelong sneaker addict (and shares his newest purchases via @peterverry on Instagram) and spends most of his free time on a trail. He holds an M.A. in journalism from Hofstra University and can be reached at peter.verry@footwearnews.com.

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Nike’s New CEO Admits the Brand Has Been Competing With Its Partners, Pledges to Fix Relationships With Foot Locker, JD Sports and More https://footwearnews.com/business/retail/nikes-new-ceo-wholesale-commitment-foot-locker-jd-sports-1234745261/ Thu, 19 Dec 2024 22:56:03 +0000 https://footwearnews.com/?p=1234745261 In his first earnings call as Nike’s chief executive officer Elliott Hill pledged his “unwavering commitment” to the company’s retail partners.

Hill, who replaced John Donahoe as CEO in October, said in a call with analysts on Thursday that re-earning the trust of the company’s wholesale partners is a top priority to help realign business as a whole. Nike’s decision to exit several wholesale doors in 2021 has kept the company behind competitors that have achieved controlled distribution in crucial channels like run specialty. Now, Hill must build on recent efforts to bolster wholesale sales and reengage key partners.

Hill acknowledged that this strong focus on Nike’s digital sales over the last few years has led the brand to compete with its own retail partners for consumer demand.

“Some partners and channels feel we’ve turned our back on them and we’ve stopped engaging consistently,” Hill said, adding that he has met with many of these key retailers directly in recent weeks. He called executives by name from Dick’s Sporting Goods, Foot Locker, JD Sports, Sports Direct and more chains, many of whom have offered positive commentary about Nike’s turnaround in recent weeks.

“They’re all encouraged by our commitment to delivering new, innovative product, telling emotional and inspiring stories and elevating Nike Direct,” Hill said. “We know our sales teams will have to earn every open to buy dollar, but we’re investing to make sure our partners feel supported. We’ll give them access to our best products and the breadth and depth they need, educate their teams on the latest Nike innovation and provide them with the marketing support both in store and out of home.”

“We will win when our partners win,” Hill added.

In line with this goal, Nike recently rehired and elevated Tom Peddie to the role of vice president, general manager of North America to oversee wholesale.

In addition to fixing wholesale, Hill’s turnaround strategy hinges on a renewed “obsession with sport,” which includes a focus on product innovation, demand creation and less centralization of teams. While he noted some changes might impact financial results in the short term, Hill said he is “making the decisions that are best for the health of our brand and business.”

In the second quarter, Nike reported top and bottom line results that beat the expectations of analysts. Shares of Nike were up more than 10 percent in the initial moments in after hours trading on Thursday.

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Nike Stock Jumps After Better-Than-Expected Results Under Elliott Hill’s Turnaround Plan https://footwearnews.com/business/earnings/nike-q2-earnings-sales-elliott-hill-1234745181/ Thu, 19 Dec 2024 21:37:22 +0000 https://footwearnews.com/?p=1234745181 Nike‘s stock got a welcome lift on Thursday after it reported earnings results led by its new chief executive officer Elliott Hill.

The sportswear giant reported top and bottom line results for the quarter that beat the expectations of analysts. Hill, who replaced John Donahoe as CEO in October, said in a statement that his top priority is to “return sport to the center of everything we do.”

“We’re taking immediate action to reposition our business, so we can get back to driving long-term shareholder value,” Hill said. “Our team is ready to go, and I’m confident you will see more moments of Nike being Nike again.”

Shares of Nike were up more than 10 percent in the initial moments in after hours trading on Thursday.

For the second quarter, Nike reported that revenues were down 8 percent to $12.4 billion over the same quarter last year, ahead of the $12.11 billion expected by analysts surveyed by Yahoo Finance. Net income was down 26 percent to $1.2 billion and diluted earnings per share was 78 cents, which represented a 24 percent decline. This was ahead of the 63 cents expected by analysts.

Nike chief financial officer Matthew Friend said in a statement that Nike’s Q2 results “largely met” expectations as the company continues to realign demand for its key products. Nike recently implemented a promotional strategy to manage higher levels of inventory that have accumulated as a result of slower than expected retail sales. Nike has also reduced the presence of its popular franchises, such as the Air Force 1, Air Jordan 1 and Dunk, to reset demand for these key franchises.

“Under Elliott’s leadership, we are accelerating our pace and reigniting brand momentum through sport,” Friend said.

By brand, Nike brand revenues were down 7 percent to $12 billion in Q2, driven by declines across all geographies. Converse brand sales declined 17 percent to $429 million. By channel, Nike direct revenues were down 13 percent to $5 billion. Wholesale was down 3 percent to $6.9 billion. Inventories were flat compared to the prior year.

Given the CEO shift, Nike withdrew its guidance for the year last quarter and said will provide quarterly guidance throughout 2025.

Hill’s turnaround hinges on several key elements including a reinvigorated innovation pipeline, an improved company culture and, perhaps most notably, a new wholesale strategy. After exiting several retail partners in 2021, Nike has started to lean back into these relationships and recently elevated Tom Peddie to the role of vice president, general manager of North America to oversee this business unit

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Skechers Opens New Concept Store in Prague https://footwearnews.com/business/retail/skechers-opens-new-store-prague-1234745129/ Thu, 19 Dec 2024 20:48:46 +0000 https://footwearnews.com/?p=1234745129 Skechers has expanded its retail footprint with a new flagship store in Prague.

The footwear brand’s newest store is located on High Street Na Příkopě, the city’s main shopping area, which Skechers said in a statement is a boulevard that is visited by 120,000 people daily. With this new addition, Skechers now has eight retail locations in the Czech Republic.

Skechers has universally become the brand that consumers look to for style, comfort and value, everywhere they live or travel,” Skechers president Michael Greenberg said in a statement. “We have had great success expanding our business across Europe, most recently increasing our third quarter 2024 EMEA sales by 30 percent over last year — and see our growing consumer presence in the Czech Republic as an opportunity to build on our strong momentum in the region.”

The store spans 596 meters (approximately 1,955 square feet), and inside, Skechers added both natural and LED lights that it explained were designed with renewable EU-manufactured biopolymer materials. The company described the store as a “mid-century modern space” that includes a large video wall and wraparound lightbox column above a custom feature table, with a modern light fixture integrated above.

In terms of products, the store prominently features the brand’s lifestyle footwear collections for men, women and kids, as well as dedicated walls for Skechers Performance shoes. There are also sections for apparel and accessories.

“Skechers retail destinations are paramount to connecting our signature styles and comfort technologies with millions of consumers. They offer living galleries of our diverse product offering, and it’s a visceral experience to walk in, hold and try on styles for every age,” Skechers CEE general manager Petar Dulić said in a statement. “With this central retail store between Old Town and New Town Prague, we offer more accessibility and convenience than ever to locals and tourists.”

About the Author

Peter Verry is the Senior News and Features Editor for Athletic and Outdoor at Footwear News. He oversees coverage of the two fast-paced and ultracompetitive markets, which includes conducting in-depth interviews with industry leaders and writing stories on sneakers and outdoor shoes. He is a lifelong sneaker addict (and shares his newest purchases via @peterverry on Instagram) and spends most of his free time on a trail. He holds an M.A. in journalism from Hofstra University and can be reached at peter.verry@footwearnews.com.

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Shoes For Crews Names New CEO to Lead the Company’s Next Steps https://footwearnews.com/business/executive-moves/shoes-for-crews-ceo-chris-quinn-exec-1234745105/ Thu, 19 Dec 2024 20:33:36 +0000 https://footwearnews.com/?p=1234745105 After emerging from Chapter 11 bankruptcy earlier this year, Shoes For Crews has appointed Chris Quinn to serve as its new CEO.

The slip resistant footwear company said Thursday that Quinn would take over the top role in January as Donald Watros retires, but remains with the company in an advisory role. Quinn has served as a board member of the company since October, and previously held roles at New Balance, Mars and Folgers, according to his LinkedIn. Most recently, he served as CEO of iDesign, a global houseware company.

“Entering the new year with our talented new board, we’ll continue to innovate in the slip-resistant and safety footwear space,” Quinn said in a statement. “Over the company’s first 40 years we’ve really fine-tuned our purposeful design and proprietary technology and I’m looking forward to continue to lead the industry in groundbreaking solutions for a wide range of use cases, from inside the kitchen to out in the field”.

The leadership transition comes just months after Shoes For Crews underwent a sale of its assets to first lien secured lenders via a stalking horse credit bid, thus emerging from Chapter 11 bankruptcy and eliminating more than $300 million of debt. Under the deal, a group of top-tier global investment firms — who had previously invested in the company — became the owners of Shoes For Crews and its international entities.

Shoes for Crews, which owns proprietary brands like Shoes For Crews, Ace Work Boots, Mozo and Lila, faced challenges during the Covid-19 pandemic when demand for safety footwear declined during lockdowns. As such, the company took on debt and then struggled when interest rates soared.

Watros told FN in a July interview that the transaction would put the company in a better position to expand into new product categories and markets as well as explore potential acquisition targets in the long term. Looking ahead, Watros said Shoes for Crews would invest in business development opportunities by identifying and onboarding new customers and would aim to carry out an expansion in the European market and in the industrial footwear category.

“During my tenure we have accomplished incredible things at Shoes For Crews,” Watros said in a statement. “From a long list of technology innovations to completely restructuring the business, we have logged a great number of successes. I’m looking forward to handing the baton onto my trusted successor, Chris, who will no doubt stack on more wins onto our growing list.”

In addition to its own brands, Shoes For Crews also partners with footwear brands that employ its slip-resistant outsole technology, such as New Balance, Dockers, Dansko, DeWalt, Cole Haan, Puma and Carolina Boots. Recently, the Shoes for Crews has launched new outsole technology that works in year-round environments such as oil, water and ice.

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Reebok Is the Latest Brand to Partner With the WNBA, Signing Multiyear Deal To Be an Authorized Footwear Supplier https://footwearnews.com/business/business-news/reebok-wnba-sign-multiyear-sneaker-deal-1234744827/ Thu, 19 Dec 2024 18:51:57 +0000 https://footwearnews.com/?p=1234744827 The WNBA has never been hotter and Reebok wants in.

On Thursday, Reebok and the WNBA announced a multiyear partnership, with the athletic brand becoming an authorized footwear supplier for the league.

“It’s an exciting time for Reebok, the WNBA and the game of basketball overall,” Reebok Basketball president Shaquille O’Neal said in a statement. “Reebok has always been committed to supporting the growth of the sport, and now with a strong plan, the right resources and the welcoming arms of the WNBA, we’re ready to dive in headfirst with everything from product to players and more.”

In an email to FN, Reebok confirmed that this is kicking off a strategic partnership with the WNBA for future activation and marketing opportunities, in addition to now being able to outfit its athletes in Reebok footwear on court without restrictions.

Reebok has increased its efforts in basketball as of late, starting with naming O’Neal president of Reebok Basketball and Allen Iverson as vice president in October 2023. However, its most notable move in the sport was the signing of Angel Reese — the 2024 FNAA Style Influencer of the Year — in October 2023.

Reebok has empowered Reese to explore her more fashionable side, most notably with her Reebok by Angel collection in August, and tapped her to reveal a new performance shoe, the Engine A, also in August. What’s more, Reebok will release Reese’s first-ever signature shoe in 2026.

Aside from Reese, Lexie Brown of the Los Angeles Sparks has also been a longtime ambassador of the brand.

“Reebok has been such an amazing partner and advocate for women in sport,” Reese said in a statement. “As strong female athletes, we can use our platform to set an example for young players coming up in the sport. I’m happy to see the WNBA and Reebok supporting one another because I know that together we’re so much stronger and our reach is so much further.”

Though Reebok is the latest brand to do a deal with the WNBA, it’s not the only athletic powerhouse aligned with the league.

For instance, Nike announced a contract extension in October with the WNBA, as well as the NBA and the NBA G League, to become the official apparel and uniform provider through 2037. The 12-year extension, Nike confirmed in a statement, includes merchandising, outfitting, marketing and content partnerships. It also includes a new joint membership program for fans across the leagues and an investment in programs to make basketball and athletics more accessible to youth of all backgrounds.

And in July, New Balance and the WNBA announced a multiyear agreement aimed “at elevating women’s sports and inspiring the next generation of fans and athletes alike.” Not only did New Balance become an official partner of the WNBA, but New Balance confirmed it will create broadcast, digital and retail content as part of the deal that features Cameron Brink, one of the stars of the 2024 WNBA draft class. The statement further explained that the partnership will allow for Brink to “continue empowering young athletes to fearlessly overcome obstacles and pursue their dreams, both in basketball and in life.”

About the Author

Peter Verry is the Senior News and Features Editor for Athletic and Outdoor at Footwear News. He oversees coverage of the two fast-paced and ultracompetitive markets, which includes conducting in-depth interviews with industry leaders and writing stories on sneakers and outdoor shoes. He is a lifelong sneaker addict (and shares his newest purchases via @peterverry on Instagram) and spends most of his free time on a trail. He holds an M.A. in journalism from Hofstra University and can be reached at peter.verry@footwearnews.com.

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Thursday Boots Is the Latest Digitally Native Brand to Enter Physical Retail With Three New Stores https://footwearnews.com/business/retail/thursday-boots-open-nyc-chicago-new-jersey-stores-1234744825/ Thu, 19 Dec 2024 13:00:00 +0000 https://footwearnews.com/?p=1234744825 Thursday Boots is going analog.

On Dec. 19, the NYC-based digitally native footwear brand is marking its 10th year in business by opening three brick-and-mortar stores all on the same day. According to co-founder Connor Wilson, the openings come at “just the right time” after focusing on other key projects that are now coming to fruition.

“[Since 2019], we’ve used our Flatiron [NYC] office showroom as a testing ground for in-person retail, learning how to operate a single store while refining the customer experience,” Wilson told FN in an interview. “This process also underscored the importance of building a strong internal team to deliver exceptional service. At the same time, we’ve been deeply focused on product development—expanding our selection, doubling down on quality, and vertically integrating with our first fully owned and operated factory.”

Now that Wilson is ready for Thursday Boots’ next chapter, the executive is set to open the doors to new stores at 45 Crosby St. in the SoHo neighborhood of NYC, at 1525 N. Milwaukee Ave. in the Wicker Park area of Chicago and a mall-based location inside Garden State Plaza in Paramus, N.J.

Each store comes in around 1,500 to 2,000-sq.-ft. and offers the brand’s full range of footwear, apparel and accessories. The design of each of the spaces are inspired by the unique hotel lobbies and bars that give New York, the birthplace of the brand, so much of its energy, Wilson added.

Thursday Boots, store, shoe store, boots, NYC, SoHo, retail
Inside Thursday Boots’ new SoHo store. Courtesy of Thursday Boots

“Our stores are designed to feel elevated, but also warm and welcoming – like you’re meeting up with good friends at a nice hotel bar,” the executive said. “Everything is elegant and approachable – similar to our customer experience and product design – but in a way that feels approachable and organic. When people join us, we want them to feel like they are at an exclusive club where they’re already a member.”

As for what’s selling now, Wilson noted that boots are still the foundation of the business, but the company has seen some early success in recent releases of women’s shoes, men’s apparel, jackets, bags and more. “We’ve found that if you can really get the product right, your customers won’t just give you permission to try new things, they’ll insist upon it,” he said. “That has us particularly excited about future collections and developments in the making.”

Overall, though, the move to physical retail is an exciting step for Wilson. “On a personal level, having stores makes doing business so much more exciting,” he said. “It gives us the chance to travel, to share our passion for our products across the country, and to reconnect with what drew us to this industry in the first place — helping customers try on shoes and building meaningful connections, one person at a time.”

Looking ahead, more locations are planned to open in 2025, but Wilson is keeping the details close to his chest. “While we’re proud to be a DTC brand, our focus has always been on putting our customers first—and this is just the beginning,” Wilson added. “With many more locations planned for the new year, we’re excited to bring our brand closer to our customers than ever before.”

Thursday Boots, store, shoe store, boots, NYC, SoHo, retail
Inside Thursday Boots’ new SoHo store. Courtesy of Thursday Boots
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1234744825 Thursday Boots Thursday Boots, store, shoe store, boots, NYC, SoHo, retail Thursday Boots, store, shoe store, boots, NYC, SoHo, retail