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Kyrie Irving’s Anta shoes see surge in demand after Nike split

Published

3 weeks ago

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By

Bloomberg

Published



January 13, 2025

Getting mired in a scandal and dumped by Nike Inc. hasn’t stood in the way of NBA star Kyrie Irving remaining a presence in the shoe market.

Anta Kai 1 worn by Kyrie Irving – Photographer: Elsa/Getty Images

China’s biggest sportswear maker Anta Sports Products Ltd., which signed the Dallas Mavericks guard to a five-year deal after Nike severed ties with him, was the fastest-growing sneaker brand on resale marketplace StockX in 2024, with year-over-year growth of over 1,900%, according to new data from the platform. 

That spike was driven by the debut of Irving’s shoe in March, the Kai 1, a performance basketball sneaker that retails for $125. It accounts for three out of every four Anta sales on StockX and resells for a 20% premium on average, at $150 a pair. It’s by far the best-selling Anta product on the platform, with an all-black version as its most popular.

Though Anta isn’t widely distributed in North America through domestic retailers, its products are available in the US through its online shop.

Nike, with its robust lineup of basketball superstars that includes LeBron James, Kevin Durant and Giannis Antetokounmpo, ended its relationship with Irving and scrapped plans for new shoe designs in late 2022 amid an antisemitism controversy. 

In addition to having his name on a signature line of shoes at Anta, Irving is also chief creative officer.

Anta has been pushing further into basketball in an effort to steal market share from Western incumbents such as Nike and Adidas AG through deals with stars like Irving and his Mavericks teammate Klay Thompson. Anta’s 2023 revenue of CHY62.36 billion (about $8.5 billion) was nearly the size of Puma SE.

Earlier this month, Anta signed three more NBA athletes to shoe deals, adding Mavericks center Daniel Gafford, Los Angeles Clippers forward Derrick Jones Jr. and Caris LeVert of the Cleveland Cavaliers.
 



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Fashion

Bubu Ogisi’s Iamisigo is winner of Zalando Visionary Award 2025

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19 minutes ago

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January 31, 2025

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Published



January 31, 2025

Zalando has announced Iamisigo, a Nigerian-founded brand, as winner of its Visionary Award 2025 “for its boundary-pushing exploration of artisanal craftsmanship and pioneering textile innovation”.

As well as the €50,000 prize, the label will present its collection on the runway at Copenhagen Fashion Week SS26 in August “with Zalando’s continued support through financial assistance for the show production, facilitating mentorship opportunities and tailored industry connections”.

The company said the award reflects its “commitment to supporting emerging designers who challenge conventions and inspire progress in the fashion industry”.

The brand blends heritage textiles with traditional craft techniques drawn from across Africa. It was founded by Bubu Ogisi and offers “contemporary designs with a bold, fresh perspective”.

At an exhibition at Copenhagen Fashion Week AW25 this week, the award finalists introduced their brands, presented their visions and ethos through a showcase of their hero pieces and a panel talk, hosted by Zalando. 

We’re told the jury chose Iamisigo “for its dedication to blending ethical sourcing with a commitment to empowering local communities. The brand’s distinct voice, visionary and magical aesthetic challenge conventions, offering a new perspective on what it means to drive positive change in fashion; transcending gender norms, designing for spirits and energies”.

The jury also said that Bubu Ogisi “embodies the essence of a visionary in many ways, and that she is a rare creative talent working in this space today, with a brand whose output is both beautiful and miraculous”.

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Hoka-parent Deckers Outdoor’s forecast disappoints despite solid holiday quarter

Published

6 hours ago

on

January 30, 2025

By


By

Reuters

Published



January 31, 2025

Deckers Outdoor on Thursday beat third-quarter sales estimates on robust holiday demand for its Hoka running shoes, but an in-line annual forecast caused the footwear maker’s shares to tumble 17% in extended trading.

Ugg

Hoka shoes with their oversized soles have been gaining market share from brands such as Nike in the sportswear category. The brand, which retails for up to $300 in the United States, have also enjoyed full-price sales.

This drove up the company’s third-quarter revenue by 17% to $1.83 billion, beating analysts’ average estimate of $1.73 billion, according to data compiled by LSEG. Deckers also raised its annual net sales forecast for a second time this year.

“The guidance looks pretty conservative and considering the beat, it’s bit of a negative read into the out quarter,” said Drake MacFarlane, analyst at MScience.

The popularity of the Hoka shoes and the success of the company’s Ugg boots and sandals has helped it post double-digit revenue growth for nearly seven quarters.

The company now expects annual net sales to increase about 15% to $4.9 billion, compared with its prior expectation of about 12% growth to $4.8 billion. Analysts estimated an increase of 14.9% to $4.93 billion.

Deckers expects annual earnings per share of $5.75 to $5.80, compared with its prior forecast of $5.15 to $5.25.

© Thomson Reuters 2025 All rights reserved.



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Amazon ramps up ad spending on Elon Musk’s X, WSJ reports

Published

6 hours ago

on

January 30, 2025

By


By

Reuters

Published



January 31, 2025

Amazon.com is increasing its advertising on billionaire Elon Musk’s social media platform X, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Reuters

The major shift comes after the e-commerce giant withdrew much of its advertising from the platform more than a year ago due to concerns over hate speech.

In 2023, Apple also pulled all of its advertising from X and has recently been in discussions about testing ads on the platform, the report said.

Several ad agencies, tech and media companies had also suspended advertising on X following Musk’s endorsement of an antisemitic post that falsely accused members of the Jewish community of inciting hatred against white people.

Monthly U.S. ad revenue at social media platform X has declined by at least 55% year-over-year each month since Musk bought the company, formerly known as Twitter, in October 2022. He had acknowledged that an extended boycott by advertisers could bankrupt X.

Musk has become one of the most influential figures following President Donald Trump‘s re-election. He now leads the Department of Government Efficiency, which aims to cut $2 trillion in government spending.

© Thomson Reuters 2025 All rights reserved.



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