Good morning, friends! Welcome back to the Kicks You Wear. Thanks so much for reading today. Appreciate you giving me a bit of your time.
Cheers to a great weekend ahead. I hope you’ve got some fun stuff planned. I’m locked in on the WNBA Finals tonight. A’ja Wilson and the Las Vegas Aces are up 3-0 on the Phoenix Mercury. What a year for Wilson. She won her fourth MVP, might win her third championship and launched a signature shoe. It’s her time, folks.
Anyway, enough rambling. Let’s jump in.
Spunge Is Here
Salehe Bembury has worked everywhere in the footwear industry. From Payless to Versace, he’s designed footwear at several different spots with a distinct vision in mind. That vision is what has made him one of the business’s premier collaborators. We’ve seen that vision executed at places like Puma, New Balance and Crocs.
Now, Salehe is bringing that vision back in-house and using it for himself. This week, Bembury announced that he’s launching his own footwear brand, Spunge. He said the brand exists to “create the kind of freedom I was always searching for,” in an announcement post via Instagram. He’s starting things off with the “Osmosis” sneaker — a low-cut model that includes what Bembury says is a proprietary foam called “squish tech” sealed within a caged midsole.
We got a chance to chat with Bembury about the new brand, it’s first launch and his history as one of the most prominent contemporary collaborators in the footwear space.
Here’s that conversation.
This conversation has been lightly edited for clarity and brevity.
Sykes: You said, in your Instagram post announcing Spunge, that this brand exists to create the freedom you were looking for. What does that freedom look like?
Salehe Bembury: Up until this point, my professional experience has either been working for someone else or within collaboration. And within working for someone else you, your sole job is to bring someone else’s ideas to fruition, and it’s also a way larger machine than just you as a designer, so you’re really contributing to a greater good. And then transitioning to the space of collaboration, the collaboration wouldn’t be a collaboration if both parties weren’t getting some of what they wanted.
To articulate it with the word freedom, I would say true freedom or true, totally selfish self-expression is not possible without, I guess, having that entity come from you. I wouldn’t want to get across the idea that collaborations deny me of freedom, because I think within the last six years, you’ve seen a large amount of creative freedom being explored and presented to a consumer. But at the same time, within creating my own brand now, I get to do it to the fullest, and there’s really no one to tell me no.
Sykes: How difficult is it to get to that space right now where you are as a creative?
Bembury: It’s a combination of proof of concept and then trust from both the consumer and then potentially peers. I think that I’ve existed in this space long enough now, within the corporate structure, independently, telling a lot of stories, executing marketing that is making people feel and so now, having checked all those boxes over a decade and a half, not only do I have a community, but I have the trust of an audience.
I think that a lot of people kind of expect what’s coming from me, and not from a negative perspective, but from a perspective of, I’m a creative that likes to push boundaries, and I like to challenge, and I like to disrupt. So I think those expectations attract a lot of people. I really don’t have to give any lip service, you know? An Instagram caption is there because that’s what’s needed to launch a brand on social media. But at the end of the day, I really believe that it’s my body of work that does the talking.
Sykes: You’ve got a lot of creative friends in the industry. Was there anyone that you leaned on in this process?
Bembury: One of the people I spoke to is Jerry Lorenzo, because he’s kind of been steering his ownership for probably close to a decade now. There’s a lot of obstacles that come with that. And him just, even just being a young Black designer, I thought that was an angle that needed acknowledgement and curiosity. And so, yeah, he gave me some perspective on what I was about to encounter and some tips on how to go about it.
Sykes: You’re launching with the Osmosis as your first shoe. I know you like to see people outside, hiking and wearing your collabs. How are you hoping people will use the shoe?
Bembury: The Osmosis is a very capable, hikeable shoe. But we’re calling it a shoe to do stuff in, because we now live at a time where people are just frozen. And I would like to encourage people to “do.” To create. To explore their creativity. To get outside. To move. And so I think the foundational idea behind the Osmosis and behind Spunge is going to be about inclusion, community building, and everyone’s welcome.
Sykes: Most people know you from the collaborations that you’ve done with other brands. How did that work help you prepare yourself for this moment?
Bembury: I have gotten to work in every corner of the footwear industry. Again, not planned, but just somewhat how it happened, and from startup to larger corporation that makes formal shoes to high-fashion company to Yeezy, to Crocs, even. In those periods of time, I’ve learned a lot about what it’s like to be a brand with your own proprietary material that you make everything with, or what it’s like to be the most famous person in the world and disrupt with everything you do, or what it’s like to be established fashion house in Milan, and, you know, ways in which to use those signature details and brand heritage. While I’ve been getting to release cool designs and make campaigns and travel and all that stuff, this entire time I’ve been studying, and Spunge is going to be a result of that master’s degree.
Sykes: Speaking of those collaborations, are you going to remain in that collaborative space while you’re doing this or are you going to take a step back?
Bembury: The idea is for the Salehe Bembury collaborative brand to continue on. And then Spunge is also — they’re going to exist synonymously, if you will. Spunge will be having different conversations than the ones I’ll be having with Salehe. Spunge is my priority. I would say Salehe is more, kind of just, no rules. Do whatever I want. Ironically, similar to what Spunge was prior to this launch. It was more a platform for me to just make some clothing and some streetwear. I was moreso regurgitating what I was trained to do from growing up in downtown New York City, you know? Now Spunge is the very pragmatic execution of the brand, whereas Salehe will just kind of be more so an execution of doing fun things that make me happy.
Sykes: So it’s a bit of a role reversal in a sense?
Bembury: If anything, it’s more of a shift in focus. Prior to this, the focus was Salehe, and now the focus is Spunge. Can I focus on both at once? Absolutely. But I don’t think they can be equal. So right now, Spunge is on the pedestal. I’ve given more than enough attention to the Salehe brand that it’s now established and has a portfolio product that people are familiar with. And I would definitely argue that that portfolio is what will fuel the Spunge initiative.
Sykes: Any final thoughts on your launch here?
Bembury: The footwear industry, for as long as I can remember, has existed with only the footwear giants. We’ve seen some people try this forward venture unsuccessfully. I believe that with the experience that I have, the passion through nostalgia, and just being a fucking New Yorker, I believe that I have the tools to get this shit done successfully, and the last 15 years of my career are is proof of that.
Good Signs For Nike
If you’re someone looking for more positive indicators for Nike after its earnings call last week, this is your week.
What’s new: UBS filed a new report on secondary sneaker market sales in September and while Nike’s numbers aren’t necessarily blowing anyone’s minds, they’re certainly doing a bit better than their competitors are right now.
By the numbers: UBS data shows that Nike’s secondary market prices increased by 1.5 percent year over year in September, with an average sale price of $151. That’s up from -3.5 percent in August.
But that’s not the part the brand should be happy about. Rather, it’s that its competitors seem to be slowing down. Adidas and New Balance both saw a bit of slippage in September.
- Adidas sneakers declined by 9 percent in September to an average price of $121.
- New Balance sneakers declined by 6 percent year over year in September, with an average sale price of $124.
One caveat: Jordan Brand sneakers only saw a 0.3 percent increase in September, with an average sale price of $195. That’s flat year over year, but down from August when prices were up by 5.1 percent on average.
- That makes sense, considering the extremely coveted Undefeated Air Jordan 4 released in August.
- While this isn’t necessarily something Nike should be worried about, it’s definitely something to keep an eye on.
Be smart: The secondary marketplace isn’t the end-all, be-all for any brand. It can be tricky to read and has nothing to do with a company’s bottom line. These numbers aren’t something a brand might bring up in an earnings report.
The other side: However, secondary market sales prices can provide a brand with a good reading on how the public feels about a brand. The higher the price, the more coveted a brand seems to be.
The bottom line: What these numbers seem to indicate is that, while Nike is tepidly rising, its biggest competitors finally seem to be coming back down to earth.
That will make the path for a brand comeback much easier.
Angel Reese Gets Her Wings
Every week it feels like there’s a new sports collaboration that makes me go, “Hm. Didn’t have that on the bingo card.” This week, it’s Angel Reese and Victoria’s Secret. But, I have to admit, I think this one makes a lot of sense.
What’s new: Angel Reese is the newest Victoria’s Secret angel.
- Reese announced that she’ll be walking the runway in the Victoria’s Secret Fashion Show on Oct. 15.
- When Reese finally graces the stage for the brand, she’ll be the first pro-athlete model to ever do so.
Be smart: While this might feel like it’s a bit out of nowhere, it shouldn’t be surprising at all. Reese has been one of the WNBA’s more fashion-forward faces.
- Reese has been on the cover of Vogue and has become a regular at the Met Gala. This is right up her alley.
- She’s also never been afraid to sell sex, either. She was a Sports Illustrated swimsuit model before this.
Plus, her name is Angel. It’s right there, isn’t it?
The big picture: What’s interesting to me, though, is the timing. The boost that this could provide to Victoria’s Secret comes at a time when the company is attempting to rebound after a downturn.
- The brand’s stock is up 70 percent in the last six months and it reported net sales of $1.459 billion for its second quarter on an earnings call in August. That’s a 3 percent raise year over year.
- Yes, but: Six months ago the company was trading very close to its lowest point since separating from L Brands in 2021.
Whether there will be a legitimate bump from Reese’s inclusion on the runway remains to be seen but, at the very least, this is a good opportunity for the brand to tap into a new audience in the sports sphere.
#TheKicksWeWear
This is the community section of the newsletter where you (Yes, you!!!!) send me your best fits and kicks from the week. Feel free to send submissions to michael.sykes@businessoffashion.com or shoot me a message via social channels @MikeDSykes
LET’S GET IT.
First, the homie Guru came through with a pair of Air Max DN8s that you really have to see to believe. Wow.
The homie D Hudson pulled up with the “Conversations Amongst Us” 550s. What a shoe. Shouts to Joe FreshGoods.
The homie Saoirse came through with the Ferrari 14s and I will never ever get tired of this pair. Classic look.
Then the homie Wattz came through with the Jjjjound 990v3s to take us home. This is really the best pair. That green is perfect.
Good stuff, friends!
Thanks for reading, gang! Hope you enjoyed the newsletter.
If you have any questions, comments or concerns, reach out to me via email at michael.sykes@businessoffashion.com or shoot me a message @MikeDSykes via socials.
Peace and love. Be safe, be easy, be kind. We out.
-Sykes 💯
