Back From the Brink: Sneakersnstuff CEO Erik Manzano Fagerlind on Making a Return and Brand Reinvention
It’s a testament to enduring grit that the retail legend very nearly disappeared, only to show up with a stronger and sharper vision. We all know how the story began: founded in 1998 in Stockholm by Erik Manzano Fagerlind and Peter Jansson, SNS arose from a common love of sneakers. That connection grew into a mission to import hard‑to‑find sneakers and in the process, build a united community. Fast forward over 25 years, and the brand had grown into a global icon.
We’ve said it before and we’ll say it again: when it comes to retailers, Sneakersnstuff are and have continually shown the industry what they’re capable of. But in early 2025, SNS took with bankruptcy, closed stores, layoffs and a future that was suddenly uncertain. Now, with Fagerlind back at the helm as CEO and a laser focus on community and curation, SNS are rewriting their future.
In the middle of the insanity that is a jam-packed schedule, we sat down with Fagerlind to hear the answer to everyone's question – ‘What happened?’ – and dug deep to dissect the future of SNS and sneaker retail. Read below and watch the full interview above.
The Roots: Stockholm to the World
'Sweden didn’t have anything like what we saw in New York or Tokyo,' Erik Manzano Fagerlind tells us, reflecting on SNS’s humble beginnings and motivations as we sit down to speak inside SNS's Paris retail space. Back in ’99, Erik and co-founder Peter Jansson were flying to grail-heavy cities, stuffing rare kicks into their suitcases, and bringing them home.
That mission resonated with their community; by the late 2010s, SNS had flagship locations all over the world – including and even , and LA – anchored by , and The brand was riding high, reaching revenue numbers in the hundred-plus millions by 2021/2022.
Then, everything changed.
Bankruptcy and the Salvation: Reziprok Ventures Step In
In January 2025, SNS filed for bankruptcy in Sweden. Their stock had plummeted: losses hit nearly US$14.5 million, and while the SNS online channels and stores in London, Berlin and Paris stayed open, US and Tokyo spaces were shut down. The shockwaves were real.
In answer to the multi-million-dollar ‘What happened?’ question, Erik is thoughtful. 'There’s not one straight answer – there’s not one thing,' he says.
What is clear is that behind the scenes, SNS realised they’d over-expanded alongside heavy effects of shifting consumer behaviour, high inflation, and shrinking demand for limited-edition sneakers. The pandemic’s boom had gone bust, and fast. 'Too optimistic, too emotional – and there was nothing coming behind it,' Erik says of the post-COVID release bottleneck which created a misleading peak of activity for the business. He also points to management's focus on digital and data-driven measures, without giving due regard to SNS’s role within culture and community. 'It was not a lack of vision,' he says. '[Perhaps] a lack of ambition, to be higher up [in community standing], maybe.'
But the turnaround wasn’t long coming. Just a month later, German investment outfit Reziprok Ventures acquired SNS and brought Erik back in as CEO after his departure from the business in 2022. 'At that point, I had never talked to them before – completely new people,' Erik explains. They installed a new ownership structure, forging the path for long-term stability while supporting SNS’s guiding principles. 'We bonded over the importance of culture, and the importance of community,' as well as curation and 'a distinction in our offering,' Erik says. European locations would stay, Stockholm would be reborn, and New York would soon return.
The Rebirth: A Return to Community
Now, SNS is undergoing a soulful overhaul. 'If we started SNS today, what would we do differently?' Erik muses. He’s begun answering that question with a more intentional retail model.
The flagship Stockholm store has reopened with a stripped-down footprint, focused on storytelling across sneakers and a curated approach. 'Retail isn’t dead – but boring retail is,' Erik says. 'You can’t out-hype the algorithm. But you can build a place that makes people feel something.'
Events, editorial collaborations, and artist showcases are all part of the new playbook. 'In the past couple of months we’ve held – but very local,' says Erik, touching on activations and parties 'We zoom in on the local community.'
The Look Ahead: Slow and Steady Wins the Race
So, what’s next?
Expect SNS to deepen their editorial content and host more in-person community activations. They’ll keep the focus lean but purposeful, with all intent on the very things that first made SNS a name to know all those years ago.
'We want people to say, "I didn’t just buy something, I felt something",' says Erik. The next wave of drops will be smaller, curated, and meaningful – SNS aims to be 'authentically rooted,' not trend-chasing. And as for Erik’s place in the adventure, he’s very clear. 'I want to be the facilitator of this – but you need to empower the people [who are driving trends]... Personally, I thrive off the energy I see in the next wave of people building things,' he smiles.
'Sneaker culture got monetised to death,' Erik concludes, in a refrain whose truth we’ve all seen in myriad examples. 'But if you strip it back, that love’s still there.' And SNS are betting smartly that passion will pay off.
SNS was built on scarcity and authenticity, and those core values nearly got lost in the swamp of expansion and pandemic-era disruption. Now, with bankruptcy behind them and Erik steering a smaller, smarter ship, SNS are coming back as the culture-first pioneers they once were. There are no wild expansion pledges – only the promise of real places, real connections, and real stories.
In Erik’s words: 'Sometimes you have to break everything to know what matters.'
For a historical breakdown of all SNS's essential colabs,