Sneaker Market Cools as 'Sneakerina' Trend Emerges
The mass-market sneaker category is in a "cool-off period" as ubiquity has reduced the scarcity and cachet of popular models, according to the 'Nothing To Wear' podcast. A new hybrid ballet sneaker trend, dubbed the "Sneakerina," is gaining traction, with major brands offering feminine styles alongside the continued popularity of technical trail sneakers.
- The "Sneakerina" trend was pioneered as early as 2020 by Irish designer Simone Rocha with her "ballet tracker" shoes. More recently, a 2023 collaboration on a similar style between Danish designer Cecilie Bahnsen and Asics sold out within 10 minutes. - Major luxury and sportswear brands are embracing the hybrid style, including Louis Vuitton with its "LV Sneakerina," Miu Miu with its "Gymnasium ballerinas," and Puma with a ballet-inspired take on its popular Speedcat model. - The cooling of the mass-market sneaker category is evident in Nike's performance; the company's digital sales have declined for eight consecutive quarters, with a significant 21% drop in the second quarter of fiscal year 2025. This has been attributed to a strategy that over-relied on direct-to-consumer channels and led to excess inventory. - Adidas has also faced headwinds, reporting its first annual loss in over 30 years and forecasting a sales decline of around 5% in North America due to high inventory levels at retailers. - While some mainstream sneaker sales are slowing, Adidas's low-profile retro "terrace" sneakers like the Samba and Gazelle have surged in popularity, helping footwear sales grow 8% in the fourth quarter of 2023 while apparel sales fell 13%. - In contrast to the broader cool-down, the market for technical trail sneakers continues to expand, with brands like Salomon, Hoka, and On Running gaining popularity among fashion tastemakers. - Hoka is driving innovation in the trail category by incorporating elite racing-style super-critical foam into its trail-ready Speedgoat 7 model, aiming for a lighter, bouncier feel without sacrificing control. - The global sneaker market, valued at $94.1 billion in 2024, is still projected to grow, with forecasts estimating it will reach nearly $158 billion by 2033.
