Deckers' New ‘Super Sneaker Brand’

Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.

Today we're diving into Deckers' new 'Super Sneaker' brand and Foot Locker's latest earnings report. Plus, outerwear brand Avec Les Filles expands into footwear.

Here's what you need to know.

After Months of Anticipation, Deckers CEO Dave Powers Reveals New ‘Super Sneaker Brand’

Since last fall, Deckers Brands has teased a new “super sneaker brand.” Now, the scope of the project is in full view.

Called Ahnu , many market watchers following the Goleta, Calif.-based footwear company for a while might recognize the name. In fact, in 2009, Deckers acquired the Ahnu label for an undisclosed sum and ran the then outdoor focused shoe brand until the company shuttered its operations in 2018. But Tuesday’s announcement is not considered a relaunch of the Anhu of the past. Deckers Brands president and chief executive officer Dave Powers told FN in an exclusive interview ahead of the launch that the company picked Ahnu because they already had the IP (intellectual property), which made it easier.

Powers described Ahnu as a “true sneaker brand” that incorporates “timeless and modern style with innovative materials” meant for all-day wear and comfort. ?

Ahnu’s debut shoe is called the Sequence 1 sneaker. Inspired by a running shoe but meant to be worn throughout the day for most occasions, the Sequence 1 is crafted with a high rebound, durable PEBA foam and a responsive carbon-fiber plate for all-day comfort.

The new Sequence 1 sneaker is now available in low, mid, and high variations, each priced at $225, $240, and $255, respectively. According to Powers, the debut shoe is available in-store at two NYC retailers, ONS and Westerlind. Online purchases on Ahnu’s e-commerce site will start on March 14.

Foot Locker Delays Long-Term Revenue Targets, Offers 2024 Guidance

Foot Locker?Inc. said it will take longer than expected to achieve long-term financial targets it outlined last year.

The company on Wednesday updated its timelines for its Lace-Up plan , revealed in March 2023.

The strategy included a plan to grow Foot Locker’s business to more than $9.5 billion in annual revenue by 2026 by diversifying its brand portfolio , relaunching the Foot Locker brand with new store formats focused on an off-mall presence, maximizing its loyalty program and investing in technology to enhance the customer journey. Now, Foot Locker expects these results to come to fruition two years later — in 2028.

“We believe that it will take us a little bit longer, but we’re going to invest in the strategies that are working for us. [Those] will continue to drive our top line and long-term profitable growth,” Foot Locker president and chief executive officer Mary Dillon told FN in an interview, explaining how the company exited 2023 at a weaker point than expected, which in part prompted the delayed timeline.

Foot Locker also announced results for the fourth quarter, which beat analysts’ expectations.

Avec Les Filles Is Launching Footwear for Fall ’24

Outerwear brand Avec Les Filles is expanding into footwear for the first time.

Meaning “with the girls” in French, Avec Les Filles was founded in 2017 by Joyce Azria, daughter of the late Max Azria. In 2019, the company was acquired by Bagatelle International Inc., and has become known for its statement outerwear, as well as ready-to-wear, including dresses and denim.

“We have been growing by classification,” said Jamie Litvack, president of Bagatelle International Inc . And after continued requests for more categories from retail partners, including Nordstrom, Macy’s, ShopBop and Bloomingdale’s, “it was time to expand [into footwear] keeping it close and family driven,” he added.

To do that, Bagatelle has entered a licensing agreement with Kaanas Shoes to design and produce Avec Les Filles footwear. It was a partnership led by Azria, who first met the Kaanas sister duo a decade ago while she ran BCBG Generation.

For fall ’24, the Avec Les Filles shoe collection is comprised of a range of styles, from leather boots, ballet flats, heels and sneakers. The footwear is made in Brazil and ranges in price from $195 to $295.

Need more shoe news?

• Nike Co-founder Phil Knight and Wife Penny Among Top U.S. Philanthropists in 2023
• Nordstrom Posts Q4 Gains, but 2024 Outlook Is Soft
• Lululemon Releases Beyondfeel Running Shoes to Celebrate Its First Women’s Ultramarathon
• Balenciaga Has a New Viral Shoe Style: Meet the Reptile Sneaker

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