The convergence of casualization, consolation, and personalization has grow to be a potent power, reshaping the best way folks understand and work together with manufacturers.
The trendy shopper is looking for extra than simply clothes and accessories — they search a mirrored image of their values, wants and identification. The intersection of casualization, consolation and personalization has given rise to a brand new paradigm within the vogue trade. Brands that perceive and embrace these values will not be solely gaining buyer loyalty but additionally paving the best way for a extra customer-centric future.
In an interview with PYMNTS, Mike Maloney, VP/GM – Lucky Brand, Hush Puppies, Crown Vintage, Le Tigre at Designer Brands discusses the corporate’s latest acquisition of Le Tigre, Keds and Topo Athletic, leaning into the development of casualization but additionally leaning into insights, heritage and storytelling to realize shopper loyalty.
“Part of the brand journey for us is anticipating where we need to be able to take our brands to solve those needs for customers,” Maloney mentioned.
Maloney mentioned Designer Brands has recognized that its optimum positioning lies within the realm of sportswear. “No spoiler alert, no secret. One of the big things is athletics and athleisure. It’s one of the largest opportunities in the marketplace,” Maloney mentioned.
“When you look at that market, athletic and athleisure is the lion’s share of the addressable market. And when you looked at our portfolio, that was an area of opportunity to grow,” he mentioned.
Athleisure Gains Traction
Since the pandemic, consolation has grow to be greater than only a choice; it has grow to be a necessity. Prolonged durations of distant work and restricted social interactions underscored the necessity for clothes that was not solely trendy but additionally conducive to the brand new realities of life. Restrictive clothes was not simply an inconvenience — it was an pointless burden.
Footwear, an integral a part of private fashion and luxury, naturally underwent a metamorphosis. Brands that acknowledged this shift and tailored their choices accordingly skilled a surge in demand. The market noticed an inflow of sneakers, slip-on footwear, and hybrid designs that merged the very best of each worlds: fashion and luxury.
These footwear choices integrated ergonomic options, cushioning applied sciences, and breathable supplies to make sure a pleasing walking expertise. From informal outings to working from home, these footwear grew to become versatile companions.
Evolution of Sportswear and Athleisure
A associated development to sportswear and athleisure is casualization, an area by which informal footwear firm Crocs has efficiently captured a bigger market presence.
Maloney identified, “If you went to a wedding five years ago and you went to a wedding now probably half of the people that are attending are wearing sneakers.”
Solidifying this notion of casualization is Crocs. In the early months of the yr, PYMNTS reported that Crocs grew 53%.
Read extra: Crocs Sees 53% Growth by Meeting Consumer Demand for Casualization
As customers have sought out informal clothes, Crocs has responded by enhancing its visibility by way of collaborations. This technique has performed a pivotal function within the firm’s journey to their latest earnings report. In July, PYMNTS wrote the corporate’s income surged to $1.07 billion.
Read extra: Post-Barbie Collab, Crocs Reports $1.07 Billion in Revenue
Another footwear model to learn from casualization is Birkenstock. Last yr, Birkenstock income surged 29%, to €1.2 billion, with its earnings reaching €394 million.
The success of Birkenstock’s gross sales has additionally been propelled by the “Barbie” film, the place Barbie faces a alternative symbolized by two footwear: the stiletto heel of Barbieland and the Birkenstock of the actual world.
Read extra: Barbie Mention Bumps Birkenstock Ahead of Anticipated IPO
Additionally, the sandal producer has launched into collaborative initiatives with luxurious manufacturers equivalent to Dior, Manolo Blahnik, and Valentino. These endeavors have reportedly positioned the corporate for a possible itemizing within the U.S. as early as September.
Where Le Tigre Fits In
Maloney mentioned Le Tigre’s enlargement into footwear encompasses not solely affordably priced choices starting from courtroom footwear to trainers to platforms, but additionally a story that resonates with a shopper section valuing model legacy and nostalgia.
Designer Brands determined to affix forces with a digital company in Brooklyn to reinforce Le Tigre’s mission of providing a “preppy style” with a particular aptitude. Designer Brands and Le Tigre purpose to draw an viewers that aligns with vintage-inspired and American heritage aesthetics, coupled with a up to date view on design.
Le Tigre footwear is out there by way of DSW and The Shoe Company’s direct-to-consumer (D2C) shops and on-line platforms, alongside particular wholesale companions and the letigreglobal.com web site.
