adidas CEO Says High-End Sneakers Are ‘Irrelevant’ to the Market
Galvanised by the arrival of Balenciaga’s Triple S, the luxury sneaker market has seen a multitude of interesting builds from the likes of Prada, Gucci and Maison Margiela. But what kind of percentage do these four-figure, three-storey sneakers represent to the wider sneaker market? According to adidas CEO Kasper Rørsted, not much.
‘The high-end and luxury brands are a minuscule part of the market. Take Gucci or Versace or something like that, their market share — and I mean this respectfully — is so small it’s irrelevant.’
So, what separates the two markets? The ability to match comfort and aesthetic.
‘People want to have a cool running shoe that has functionality, but looks like a cool shoe. [They] want to have [a shoe] where functionality has a higher rate than design, but that doesn’t mean you can compromise on design ... a lot of people will wear an athletic shoe when they go out, but it has to be good looking.’
Sure, that and a wad of cash.
Don’t worry, the Triple S aren't going to stomp on your UltraBOOSTs anytime soon.