There is a lot happening on the business side of things in the sneaker industry. Today two announcements hit. SoleSavy a sneaker startup dedicated to finding sneaker fans kicks at retail instead of resale via a membership, announced that their new private label sneaker is on the way. The shoe is designed by Gemo Wong and Justin Taylor:
https://solesavy.com/introducing-the-ss4-solesavys-first-original-physical-and-digital-sneaker/
Hypebeast announced that they are acquiring SPAC Iron Spark I to IPO on Nasdaq.
I attempt to tie these two stories together and show that the sneaker industry is adjusting to brands’ direct to consumer strategies in very interesting ways. As resale slows down for third party companies and ad revenue diminishes for sneaker media brands, revenue will have to be generated because memberships aren’t capable of providing enough of a return to continue to garner investments for Sole Savy, and Hypebeast needs an infusion of cash after a not-so-great performance on the Hong Kong Stock Exchange:
https://www.investing.com/news/stock-market-news/hypebeast-to-go-public-via-merger-with-iron-spark-i-432SI-2797359
