REI Doubles Down on Running Shoes
Footwear News
Keeping you up to date on top news in the footwear industry, groundbreaking fashion trends and the who's who in shoes.
Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.
Wolverine's work division promoted Scott Schoessel to chief marketing officer of its work group division, REI leans into running shoes and Dr. Martens' chief product officer discusses balancing a rich brand identity with innovation.
Here's what you need to know.
Wolverine’s Work Division Promotes Scott Schoessel to Top Marketing Role
Wolverine Worldwide has promoted Scott Schoessel to chief marketing officer of its Work Group division.
The executive joined the Rockford, Mich.-based footwear company in 2020 as director of digital and retail marketing for Wolverine Worldwide. In 2022, Schoessel was promoted to his most recent role as vice president of global marketing for the Wolverine, Bates and Hytest brands. Prior to joining Wolverine, Schoessel held roles at Limited Brands, Bluedog Design, Gigunda Group, Gatorade and Kellogg’s.
Schoessel told FN in an interview that his promotion is in line with the footwear company’s efforts to leverage the scale of the Work Group – which includes the Wolverine, Cat, Harley-Davidson, Bates and Hytest brands – and bring the labels closer together across functions.
“We’ve begun to pull the brands, at least, functionally closer together to operate with some synergy versus operating as completely distinct brands,” Schoessel said. “And where this has the most impact is with the Wolverine and Cat brands. Because for years, those two brands have been set up as competitors under the same roof, versus taking the opportunity to be able to create a portfolio strategy. So, now as one team we have the opportunity to share ideas, to grow in conjunction or parallel to each other.”
Why REI Co-op Is Doubling Down on Running Shoes and Exiting Its Branded Footwear Business
REI Co-op confirmed with FN that it is exiting its REI-branded footwear business after 2024, four years after the company revealed to FN that it would begin producing its own shoes. In the time since its initial launch, REI has delivered eco-friendly hiking boots, trail runners and more.
REI confirmed that its Flash TT hiking boots and Swiftland MT BlueSky trail running shoes, which are in stores now, are the last of its branded footwear that will release.
However, as the retailer exits one business, REI is doubling down on another: running.
In April 2022, with consumer demand for running and fitness products doubling at REI since COVID-19, the retailer announced a multiyear strategy created to build upon its growth in the category. That included a new in-store experience that it tested in three of its California doors: Tustin, Burbank and Manhattan Beach. The following year, REI debuted three more of these shop-in-shops in Washington, D.C. locations.
For 2024, Zhou said REI will increase the count by nine, and the new in-store running destinations will be located in Denver, Chicago and L.A.
Dr. Martens Chief Product Officer on How Balancing Brand Heritage with Innovation Can Reignite Demand
As chief product officer of Dr. Martens, Adam Meek is charged with balancing a rich brand identity with the need to innovate.
“Our starting point is always the DNA of the brand,” Meek told FN in an interview. “[But] innovating is also always something we really focus on — how do we continue to create products that are true to the Dr. Martens brand and relevant for consumers?”
In some cases, Dr. Martens will refresh an existing product with new colors or materials or opt to build a totally new, yet familiar product based off an existing core model. The most extreme version of innovation, which Meek described as “revolution,” involves using brand codes to create something almost entirely new. He gave the example of the brand’s 14XX collection that launched last year and recreated new designs based on classic silhouettes like the 1460, 1461 and 2976.
Big picture: Getting the product mix right is crucial as the brand looks to reignite demand in North America. After several quarters of declining revenues, Dr. Martens last week said it expects weakness to persist in the U.S. wholesale market throughout fiscal year 2025. And earlier this month, an activist investor sent a letter to Dr. Martens chairman Paul Mason and the board of directors urging the company to begin evaluating “alternatives for the business with the goal of maximizing shareholder value,” which includes a potential sale of the business. The letter stated that Dr. Martens’ heritage and relevance would make it an attractive target for interested parties.
Need more shoe news?
Got a tip? Send us a confidential note here.
Want more? Sign up here to receive FN's daily newsletter directly in your inbox.
good article ??
Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer
11 个月Thanks for the updates on, The FN Daily.