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Tag: StreetTrend

  • StreetTrend buys majority interest in Italian footwear retailer P448

    StreetTrend buys majority interest in Italian footwear retailer P448

    US-based footwear holding company StreetTrend has signed a joint venture agreement with Italy-based investment firm Panda to purchase a majority interest in luxury sneaker and footwear retail brand P448.

    The deal covers all creative design, manufacturing operations and brand assets of the footwear brand in Forli.

    Following the acquisition, P448 founders Marco Simone and Andrea Curtis will maintain an equity stake and continue to operate the business.

    StreetTrend chairman Kulkin said: “When we launched StreetTrend last year it was very clear that we had to include P448 in our portfolio of luxury sneakers.

    “The feedback about the product design and quality coming out of Europe was amazing and I was thrilled to sign an exclusive distribution agreement to market the brand in North America, the UK, Hong Kong, and China.”

    Following the transaction, Panda CEO Paolo Griffo will serve as the CEO of P448 and lead the new management team of the brand. He will also continue to run Panda.

    Kulkin will serve as non-executive chairman of P448, while Simone and Curtis will serve as co-creative and design directors.

    As part of the deal, StreetTrend will assist the P448 brand to expand its current global distribution footprint.

    The company is also planning to open a new P448 store at the Palazzo Serbelloni in Milan, Italy, in October.

    Griffo said: “The company will continue to grow by being innovative and executing on our vision of offering a unique Italian spin on shoes that reflect streetwear, including looks that capture the surf, skate and music culture.”

  • Ex Stuart Weitzman CEO launches new line of luxury sneaker

    Ex Stuart Weitzman CEO launches new line of luxury sneaker

    Former Stuart Weitzman CEO Wayne Kulkin has launched a new brand to take advantage of the fast-growing luxury sneaker category.

    StreetTrend is a partnership between Kulkin and Hilco Global, which is better known in retail circles for managing the liquidation of failed retail businesses, including HMV, Blockbuster and Linens N Things.

    Kulkin says he is confident that luxury sneakers is a trend with staying power. “Consumers are passionate about the growing trend of wearing sneakers in all settings – from the gym to the office, from the park to the bar,” he says.

    “The demand for multiple pairs of shoes is a natural extension of the shift to casual dress at the workplace. People want to make a statement about their personal style from head to toe.”

    Kulkin founded the company early this year, working at first on developing product designs

    “I’ve been a sneakerhead since I was a teenager. Anyone who’s ever met me will tell you that I am always in sneakers, whether it’s with a suit, jeans, or sweatpants.”

    The first products are expected to ship to luxury retail stores in North America and Europe, including Neiman Marcus, Nordstrom, Shopbop and The Shoebox NYC, in Spring/Summer 2018.

    StreetTrend will manufacture its shoes in Italy and retail them under three brands: p448, Meline, and P.S.821.

    “StreetTrend LLC will design and market Italian-made luxury sneakers that are fresh and innovative,” says Kulkin. “The entire collection is made with the finest materials and handcrafted in Italy. Our goal is to completely exceed consumer expectations on style, comfort, and fit, all at a democratic price point.”

    Kulkin will leverage his deep industry experience in marketing, supply chain and global consumer trends as CEO of the new venture.

    “I’m excited to build something from the ground up. I love the power of ideas and the creative process, and I’m certain we’re tapping into a very exciting consumer need for sneakers that look and feel fantastic.”

    Kulkin spent more than 20 years at Stuart Weitzman and served as its CEO both before and after the company’s acquisition by Coach, (now Tapestry). He started his shoe career as a buyer at Nordstrom, and has been involved with every aspect of the footwear industry over his career.

    Hilco Global’s activities are not restricted to dissolving businesses. The company has invested in many fashion and consumer brands in the past, including Polaroid, Halston, Haute Hippie, Madaluxe Eyewear, Le Tigre, Caribbean Joe, Ellen Tracy and Altec Lansing.