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‘Big clunky shoes’ are making a comeback

Category: Finance,Retail

Millennials are the driving force behind a resurgence in popularity for heritage sneakers, according to the chief executive of the world's second-largest sportswear brand.

"The newest trend you are seeing in the high street is the mock-ups or the new models from what we had in the '90s, so the big clunky shoes are now coming in — which aren't for everybody's taste, but that's the new taste," Adidas CEO Kasper Rorsted told CNBC's "Squawk Box Europe" on Thursday.

"You are seeing shorter product lifecycles now so the consumer is becoming more fickle. He or she will look upon a product or cycle for six or nine months and they will change," he said, before adding: "That's on one side an opportunity, but also a threat because you can be in one day and you can be out on the next and that's why our relationship with a creator farm in Brooklyn or Kanye West or Stella McCartney is so fundamental to ensure that we are right in front all the time."

The German sportswear giant reported stronger-than-anticipated second-quarter net profit Thursday, underpinned by robust revenue growth in key markets such as North America and China.

Adidas shares, already up more than 14 percent so far this year, surged nearly 8 percent on the news during Thursday morning deals.

Earlier in the year, the German sportswear giant said it had sold more than 1 million shoes made entirely out of ocean plastic. The 2017 launch of Adidas' Ultraboost Uncaged Parley sneakers comes amid a broader industry effort to embrace recycled materials.


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